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Builders risk insurance helps protect properties under construction.

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Safeguard your property as the project is being built with builders risk insurance.

Whether you’re building a new residential or commercial property, construction is a costly undertaking. Without the right insurance policy in place, you risk losing it all if disaster strikes. Builder’s risk insurance protects your construction project from beginning to end. Request a quote online, or speak with an NSI Insurance agent today to learn more about builder’s risk insurance in Florida.

What is Builder’s Risk Insurance? 

Builders Risk Insurance (sometimes called Course of Construction Insurance) is a specialized insurance policy designed to provide coverage for residential and commercial construction projects. This includes both ground-up and renovation projects. 

From vandalism to fire damage, there are a variety of events that can cause costly damage during the construction process. With a builder’s risk policy in place, you can ensure you are financially protected in the event that the unexpected strikes. 

  What Does Builder’s Risk Insurance Cover? 

Builder’s risk insurance policies can be customized to suit your project’s specific needs. A typical policy will cover: 

  • Vandalism 
  • Fire damage 
  • Natural disasters 
  • Buildings and structures 
  • Labor costs 
  • Falsework 
  • Plants and trees 
  • And more 

A comprehensive builder’s risk policy will also typically include general liability coverage, offering protection in the event of personal injuries, bodily injuries, or property damage. 

  Optional Insurance Endorsements 

If you find yourself in need of additional coverage not included in your base policy, you can customize your builder’s risk insurance policy with various optional endorsements. These endorsements may include:  

  • Business income 
  • Fraud and deceit 
  • Debris removal 
  • Earthquakes and floods 
  • Equipment breakdown 
  • Personal property 
  • Sewer backup 
  • And others 

These endorsements can be added to ensure your policy is tailored to meet the specific needs of your project. 

Builder’s Risk Insurance FAQs 

Still have questions? Here are answers to some of the more common questions we get about builder’s risk insurance across Florida:

How much does builder’s risk insurance cost?

Builder’s risk insurance typically costs anywhere from 1% to 5% of the total construction project. However, these rates can vary depending on several factors, such as: 

  • Location 
  • Construction type 
  • Construction timeline 
  • Project type (residential or commercial) 
  • Policy term 
  • Claims history 

An NSI Insurance agent can help you find a policy that meets your needs and budgetary requirements. 

Is builder’s risk insurance required?

Builder’s risk insurance is not legally required. If the project requires borrowing money, however, lenders may require you to have an insurance policy. Moreover, builder’s risk insurance is an inexpensive investment that can protect you from significant financial damages, so it is always strongly recommended when taking on a new construction project. 

How long does the policy last?

Generally, these policies are available in 3, 6, 9, and 12-month terms. However, if your project is expected to take longer than a year, you can renew your policy until the project is complete. 

Get a Builder’s Risk Insurance Quote 

Construction projects face a variety of risks that can lead to serious financial damages. With a builder’s risk insurance policy, builders can protect their property from these risks and ensure they are financially protected throughout the construction process.

Let’s Get Started

  1. Step 1Fill out the form.
  2. Step 2Review your options with us.
  3. Step 3Get the coverage you need.

Builders Risk Insurance Quote Request

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