Builder's Risk Insurance for Texas Contractors
Protect your construction projects from damage during the building process.
Average Cost: 1% – 4% of total project cost for Texas contractors
What is Builder's Risk Insurance?
Builder's risk insurance (also called course of construction insurance) protects buildings and structures while they are under construction, renovation, or remodeling. It covers the structure, materials, and equipment on site against perils like fire, wind, theft, and vandalism. For Texas contractors working on new construction or major renovation projects, builder's risk is essential protection for your investment and your client's property.
Why Texas Contractors Need Builder's Risk Insurance
Protects the building under construction from covered perils
Covers materials and supplies stored on site or in transit
Required by most construction contracts and lenders
Covers soft costs like architect fees and permit costs after a covered loss
Protects against Texas-specific risks like hail, wind, and severe storms
Provides coverage during the most vulnerable phase of a building's life
What Does Builder's Risk Insurance Cover?
Building under construction
covers the structure itself
Materials and supplies
covers building materials on site and in transit
Temporary structures
covers scaffolding, fencing, and temporary buildings
Soft costs
covers additional expenses like architect fees after a loss
Equipment breakdown
covers mechanical and electrical equipment
Debris removal
covers cleanup costs after a covered loss