Builder’s Risk Insurance is project-specific coverage. It is specifically for buildings under construction. This could be a ground-up building project, a renovation, or a remodelling job.
The policy only lasts for the duration of the project. So, this is why it is also known as Course of Construction Insurance.
Whereas General Liability coverage is for a third-party claim filed against your construction business, Builder’s Risk is for damage to your own property or project. So, your Liability policy will give you protection from property damage and bodily injury claims filed by your client or any third-party.
However, it will not protect your own assets or the building you are constructing. This policy offers coverage for things like:
Cheap insurance is not necessarily bad. But, look around before you buy. Be sure to check that the policy covers all your risks at the best price.
We can help. Call Farmer Brown Insurance at 888 973 0016
