Shield Your New Construction With Builders Risk Secrets

Why You Need Builders Risk Insurance

The primary benefit of builders risk insurance is its ability to cover loss or damage to the insured structure and materials on-site, in transit, or at temporary storage locations. This insurance is typically purchased by the owner of the building, the general contractor, or a subcontractor, depending on the contractual obligations. By securing this insurance, you ensure that your financial interests are protected throughout the construction process.

In addition to protecting the physical structure, builders risk insurance can also cover soft costs, which are expenses indirectly related to construction, such as architectural fees, legal expenses, and loan interest. This comprehensive coverage ensures that you can continue your project without financial setbacks caused by unforeseen events.