HD Insurance
Helping those who help others

Builder's Risk

Builder's Risk Insurance

Protect your projects

Builder's risk insurance is coverage for buildings that are under construction. There are several options for coverage like whether just the building is covered or the materials that will be used as well. The coverage must be for the completed value of the building and is typically written for three, six or twelve months, it can often be extended if the project is not completed but usually only one time. 

There can be some confusion as to who is responsible for purchasing a builder's risk policy, the building owner or the contractor(s) that will be doing the building. This can vary, sometimes the owner of the building will purchase the policy, sometimes contractors buy a policy for each project they take on, these builders typically work on large projects and only a few a year, or sometimes the contractors will have what's called a blanket builders risk policy that covers all projects for that year. 

Some common conditions and exclusions are

  • Subcontractors are required to carry their own insurance for their completed work

  • The insurance does not cover the property of others

  • There is no coverage for equipment or tools

  • Workers compensation insurance is not included

  • Coverage typically ends when the building is either completed or occupied

  • Breaches of contracts are not covered

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Boise is currently experiencing a construction boom, new buildings, houses and apartment complexes seem to be going up left and right so builder's risk is an essential coverage for many people in our area right now. If you are a builder, contractor, property developer or are planning on having something built for you and would like more information about builder's risk, please let us know!