What is Builders Risk Insurance?
Builder’s Risk Insurance, also known as Course of Construction Insurance, is a specialized type of property insurance designed to indemnify against damage to buildings while they are under construction. Course of Construction Insurance provides coverage while the building is under construction. A Builder’s Risk Insurance policy can cover the structure, fixtures, equipment, and building materials on site waiting to be installed or transported to the job site from covered losses under the insurance policy.
Common causes of loss that are typically covered in a Builder’s Risk Insurance policy are:
Course of Construction Insurance Policies also have fairly standard exclusions that an insured should be aware of such as:
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