Builder’s Risk Insurance is a type of property insurance that covers buildings and structures while they are under construction or renovation.

You typically need to purchase a builder’s risk policy before construction begins, and it usually ends when the work is completed or the property is occupied.

Who Needs It:

• Property owners

• General contractors

• Developers

• Subcontractors (sometimes)

• House flippers or real estate investors doing major remodels

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What It Doesn’t Cover:

• Employee injuries (you’d need workers’ compensation for that)

• Tools and equipment owned by contractors

• Faulty workmanship or design

• Floods or earthquakes (unless added by endorsement)

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