Builders risk insurance coverage is a type of property insurance which is meant to indemnify against damage to structures while they are being built. A covered building under construction would include things such as foundations, fixtures, machinery, equipment used to service the building or materials and supplies used for construction. Covered perils under builders risk insurance include losses due to fire, vandalism, lighting, wind, and similar forces. This type of policy is not meant to cover earthquake, flood, acts of war, or intentional acts of the owner. Coverage under a builders risk policy generally terminates once the work has been completed and the property is ready to be, or has been occupied. The legal responsibility of an insured for damage to the property of another while in the insured’s care can also be covered by this policy.


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