Builders Risk Insurance Coverage

What does builders risk insurance cover?

Fire, wind and theft can be devastating, but not adequately insuring a construction project can be even more severe when you consider the potential loss involved for all parties associated with the project.

During the course of construction, a structure is exposed to many perils. The insurance coverage form for the Builders Risk Plan insured by Zurich is a very broad policy. Unless a peril or risk is excluded, it’s considered covered. Coverage forms are not standard in the marketplace and vary by the insurance provider. It’s important insurance agents have an understanding of any exclusions when advising a construction client on the policy type and coverage offering. When you are a registered insurance producer with US Assure, builders risk coverage forms are available to you for reference during the client consulting process.

Builders risk insurance can cover a variety of projects, and between standard coverages and endorsements, policies can be tailored to almost any client’s needs. Let’s take a closer look at which coverages are available from the Builders Risk Plan.

Standard Coverages

The US Assure Builders Risk Plan insured by Zurich offers protection for a wide range of named perils including but not limited to:

  • Theft
  • Vandalism and arson
  • Collapse
  • Fire or lightning
  • Property damage
  • Materials in transit and at temporary locations
  • Debris removal
  • Ordinance or Law
  • And more!

In most cases, your client has the option to purchase increased limits where appropriate and depending on the project type.

Optional Coverage Endorsements

The US Assure Builders Risk Plan insured by Zurich offers comprehensive coverage that is designed to be customizable. Each policy can be tailored to meet the specific needs of your client and most coverage limits can be adjusted to meet the needs of your client. Some optional coverage endorsements include but are not limited to:

  • Soft Costs
  • Backup of Sewers, Drains or Sumps
  • Better Green
  • Business Income and Extra Expense*
  • Contract Change Order
  • Earthquake or earth movement (where available)
  • Flood (Where Available)
  • Rain, Snow, Sleet and Ice (Water Intrusion) Coverage Extension*

*For commercial projects only

How can you identify what optional builders risk coverages are needed?

Read the construction agreement between the owner and builder or developer. These agreements dictate requirements for builders risk insurance. You can also view all specialized coverage options in our Coverage Summary by Policy Type resource.

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