Builders risk, also known as course of construction or inland marine coverage, is defined as insurance that protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment awaiting installation (or after installation) during the construction or renovation of a building or structure, should those items sustain physical loss or damage from a covered loss.

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What Exposures are Covered?

While exact coverages and limitations vary between providers, comprehensive builders risk policies may offer coverage for theft and vandalism, as well as additional coverages including (but not limited to) soft costs, flood, windstorm, earthquake, ordinance and law, and business income and extra expense. Policies may also cover damage to construction material, temporary structures, fencing, scaffolding, subdivision signs and landscaping. Builders risk policies (and the projects they cover) are typically available for ground-up new construction, remodeling (including or excluding the existing structure) and installation.