Private Client Solutions

Builders Risk Protection

While under the course of construction or renovation, homes, condos or co-ops may require either a separate policy called Builder’s Risk, or that that a current policy be modified to address the unique perils associated with construction.

Builder’s Risk insurance, commonly referred to as Course of Construction coverage, can cover just the structure, or also the materials on site waiting to be installed or transported to the job site, and can be written for a time period of three months, six months or 12 months.

Important information:

• The insurance will not cover the property of others.
• Sub-contractors are required to have their own insurance.
• There is no coverage for tools or equipment.
• No coverage is provided for liability.
• It does not cover accidents on the job site.
• Usually coverage ends when the building is completed, or occupied.
• The premium for the annual policy is fully earned, meaning there will be no return premium if canceled