Builders Risk Insurance
Builders risk insurance is property coverage for a building under construction or renovation and covered materials used in the project. All Assured Solutions helps contractors and project owners review the construction exposure, policy conditions and protection needed before work begins.
What a project policy may address
Review the building value, materials, fixtures and equipment intended to become part of the finished structure. Depending on the policy and endorsements, protection may extend to materials in transit or temporary storage. Theft, fire and certain weather losses may be covered; flood, earthquake and other causes of loss require a separate review.
Questions to settle before construction starts
Who buys the policy: the owner, contractor or another party? Which parties need to be insured? Does the insured value include labor, materials and change orders? We also review the project address, start and completion dates, construction type, site security and any renovation of an existing structure.
Gaps that can delay recovery
Coverage for an existing building, testing, occupancy, soft costs and delayed completion is not automatic. Identify when coverage begins and ends, how extensions work, and whether deductibles or sublimits apply to specific losses. Builders risk does not replace general liability or workers’ compensation.
Prepare for your risk assessment
Bring the construction contract, budget, schedule, plans, lender requirements, current policies and information about off-site storage. Tell us about phased work, occupied premises and changes in scope so the review reflects the actual project.
A clearer plan for the job site
We compare available options against the project’s responsibilities and explain the terms that matter. The goal is to close gaps between the construction contract, property protection and the rest of your business insurance.
Related business protection
Start with a risk assessment
All Assured Solutions is a veteran-owned independent insurance and risk management agency serving Virginia, Maryland and Washington DC. We put your needs first and review how separate coverages work together.
Coverage, eligibility, availability and terms vary by carrier, policy and circumstances. This educational information is not a binder or guarantee of coverage. Review the policy and endorsements for exact terms.