Of course contractors must ask, How Much Does Builder’s Risk Cost? The short answer is: If you’re paying more than 5% of construction price, you are paying too much.

On average, the cost of Builder’s Risk Insurance ranges anywhere from 1% to 5% of the total construction costs. The exact cost depends on the following 6 factors:

  1. Cost of the Project. This will be the single most important item in determining your cost.
  2. Length of Project. It stands to reason that a project that will be completed in 90 days has less chance of being damaged by fire other other natural disaster than a project lasting a year.
  3. Exclusions in Policy. Some contractors just want the basic and cheapest policy. This can be expensive in the long run.
  4. Optional Coverage may include soft costs, earthquake coverage, flood coverage, legal fees, license fees and/or additional expenses that cover business income.
  5. Geographical Location of Project. Projects on the coast are subject
    to greater risk of loss from hurricanes, wind and flooding than inland
    locations.
  6. Type of Construction. Frame structures are more susceptible to fire
    and wind damage than masonry construction and are therefore more expensive to insure.

Because we specialize in Builder’s Risk coverage, we will get you the best rate. Call (877) 960 0221

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