Builder’s Risk Insurance is a specialized insurance cover that protects buildings that are either being built or under renovation. Also called Course of Construction Insurance, it is ideal for protecting owners and general contractors for on site dangers.
Builder’s Risk coverage provides a buffer against damage – be it natural factors or construction errors. Under Builder’s Risk Insurance, materials in transit or on site, equipment and temporary scaffolding are covered. As a matter of fact, with the contractor coverage, labor costs are also included in the cover.