Our builder’s risk insurance covers your property in the course of construction and is tailor-made to meet the toughest challenges of the commercial real estate market. Builder’s risk insurance provides the control of the insurance benefit to the owner of multifamily, hotel, office, retail, industrial, mixed-use or other type of commercial property in case something happens to the under-construction project due to the damage done to the insured structure from a wide variety of events. It can cover just the structure, or also the materials on site waiting to be installed or transported to the job site.

Most policies cover the damage from such events as fire, wind (may be limited in coastal areas), theft, lightning, hail, explosion, vandalism and vehicles/aircraft. It usually does not cover the damage from such events such as earthquake, flood, water damage, employee theft, mechanical breakdown and other events.

Your builder’s coverage should be effective prior to when the materials are delivered to the jobsite and end upon the earlier of closing of the sale, occupancy or the policy expiration date .