Course of Construction insurance is another name for Builder’s Risk Insurance. Why? Because this policy only provides coverage for the duration of the construction project. In other words, the policy is project specific.
But, what financial risks does Builder’s Risk cover? This coverage is not third-party liability coverage. It will not give you protection from liability claims. So, if you are sued for damage to your client’s property, you will rely on your General Liability Insurance not your Builder’s Risk.
Builder’s Risk protects building owners, property developers and contractors are protected from the devastating impact of fires, floods, vandalism, theft.
Your coverage can cost as little as 1% of the construction cost.
Read the Builder’s Risk blog for more about Course of Construction insurance.