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Builder's Risk... Are You at Risk?

Builder’s Risk Insurance, sometimes called Course of Construction is a form of insurance which protects a building where the building or insured area is being constructed. It can solely provide coverage for the structure or coverage for the structure and the materials on site waiting to be installed or even transported to the job site. Typically, it is an insurance coverage most owners will expect every contractor to carry.

A builder's risk insurance policy will cover damages up to the specified coverage limit, determined by the total completed value of the structure (materials and labor costs, excluding land value). Builder’s Risk insurance policies can be termed at three, six, or twelve months, depending on the length of the project.

Understanding Builder's Risk Coverage

SIS's Builder's Risk policy is one of the many coverages offered in our SIS Business+ Program. It will provide coverage for damage done to the insured structure from an array of causes. Damage from the following events will be covered:

  • Fire

  • Wind (may be limited in coastal areas)

  • Theft

  • Lightning

  • Hail

  • Explosion

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