Builder’s Risk Insurance Policy
A contractor typically carries insurance covering the structure and equipment while a home is under construction.
What should be included in a builder’s risk policy?
Homeowners can check to make sure the contractor’s policy covers as much protection as they need. Coverage can be purchased to include damages from issues such as fire, wind, lightning, theft, vandalism, and explosions. It could also include parts of the structure, such as wiring and the foundation. Policy limits should be equal to the value of the completed building.