Builder’s risk insurance is a specialized type of property insurance that helps protect buildings under construction. It covers property and construction materials during a construction or renovation project. It is also called “course of construction insurance”.
This type of insurance is essential in helping protect construction projects, but can be complex and often misunderstood. It can cover the cost of repairing or replacing the building or materials if they are damaged or destroyed by a covered event such as fire, theft, vandalism, or weather-related events.