Builder’s Risk Insurance for Contractors

Protect your construction project from damage and loss.

Get Affordable Builder’s Risk Insurance

Whenever a builder starts a construction or renovation project, he knows that it carries some risk. For even the most seasoned contractors, finding affordable builder’s risk insurance can be intimidating. With good builder’s risk insurance coverage, you can have peace of mind that even if something goes wrong you have the policy to protect you.

An insurance company can help protect you in the event of:

What could be covered by builder’s risk insurance?

Many of our clients are not sure what to expect from their policies when it comes to specific covered events. Typical builder’s risk insurance policies will cover one or more of the following:

Construction materials are often expensive, and having them stolen could put a nasty kink in even the best plan. Reimbursement for the theft of your materials ensures that your project will remain profitable.

Your policy can cover new construction sites, time frames on the build itself, materials, fixtures, and other equipment being used in the construction.

Many places have severe weather, and your community is no exception. Damage from severe weather, fire, and other natural disasters costs billions of dollars annually in the United States alone.

Work With Professional Insurance Agents

Our experienced agents work closely with you to calculate your job's likely risks and help you find the right policy to match your needs. If you're starting a project soon and thinking about purchasing coverage, we can diligently help you get all the coverage you need. Don't wait until it's too late to protect your assets.

For more information, please contact our experienced team of agents for builder’s risk insurance and installation insurance.

Builder’s Risk Insurance Covers:

  • The building materials on the property
  • Your equipment from theft
  • Fire or storm damage to supplies

It Does NOT Cover:

  • Someone walks into your project area and trips on equipment, breaking a wrist
  • A 2 by 4 with nails breaks and falls onto a worker, hitting their back
  • Other accidents that someone could claim you're liable/responsible
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What should be included for the construction cost on a builder’s risk policy?

The construction cost reported on the builder’s risk insurance should include all labor, construction, and management fees. You should also include materials, equipment, machinery, and supplies that will be used in the construction and will become part of the completed project.
  • Labor
  • Construction
  • Management fees
  • Materials
  • Equipment
  • Machinery
  • Supplies
Should demolition be included in construction cost original

Should demolition be included in construction costs?

No. Since the property you are demolishing is not going to be repaired or replaced, it should not be included in a builder’s risk policy. Insurance is used to cover the cost to replace something that could accidentally be damaged. If there is no intention to use that property, and it's going to be destroyed, it's a waste of money to ensure a building you're going to intentionally destroy.
What does a business owners policy cover

When does builder's risk insurance begin?

Coverage begins on the estimated start date for the construction work that is specified on the application and designated by the insured or project manager. This should be the same date that work is scheduled to begin on the site and doesn’t need to be during the demolition phase.

What if a construction project goes past the estimated date of completion of work?

Just make sure to keep your insurance agent informed of the expected completion date. They can ask for an extension on the policy or they can re-write another policy that will extend the date out for you. Either way, with proper communication, our agents can work with you to get exactly what you need.

Do you have a question about builder’s risk insurance?

Our agents are ready to answer any of your questions.
Guardian Insurance Group is an independent insurance agency that serves customers in Tennessee, Arkansas, and Mississippi. They offer a wide range of personal and commercial insurance products, including auto, home, and business insurance.

Guardian Insurance Group is committed to providing clients with the best possible service. They have a team of experienced and knowledgeable agents who are dedicated to helping their customers find the right insurance coverage for their needs. Guardian Insurance Group also offers a variety of online resources to help their customers manage their insurance policies.

In 2022, Guardian Insurance Group was voted in the top three for Best Insurance Agency by the DeSoto Times-Tribune. This award is a testament to the hard work and dedication of the agency's team. Guardian Insurance Group has locations in Memphis, TN, Southaven, MS and Byhalia, MS and is committed to providing clients with the personalized and unique service they deserve.
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