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Builders Risk Insurance Products

Compare 122 products offered for Builders Risk Insurance from 52 companies including Aon plc, Miller Insurance Services LLP, and Touchstone Underwriting Ltd.

Our Builders Risk Insurance Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. The Frequently Asked Questions can help you learn more about this coverage area.

Compare Builders Risk Insurance Policies

Products 41 to 50 of 122
Product name Max Coverage Min Premium Exclusions
Electronic Security by EC Insurance Company Ltd Max Coverage N/A Min Premium N/A

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Electrical Contractors by EC Insurance Company Ltd Max Coverage N/A Min Premium N/A

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UK Commercial Division by Allied World Managing Agency Ltd Max Coverage N/A Min Premium N/A

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Property Owners by Advantage Underwriting Ltd Max Coverage GBP8M Min Premium N/A

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Engineering and Construction by W/R/B Underwriting Max Coverage GBP50M Min Premium N/A

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Marine Trade by Thames Underwriting Ltd Max Coverage N/A Min Premium N/A

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Contractors All Risks and Plant by Thames Underwriting Ltd Max Coverage N/A Min Premium N/A

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Contractors All Risks by Thistle Underwriting Max Coverage N/A Min Premium N/A

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Construction and Engineering by Allied World Managing Agency Ltd Max Coverage US$100M Min Premium N/A

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Offshore Technical Risks by STARR Max Coverage US$125M Min Premium N/A

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Frequently Asked Questions

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What Is Builders Risk Insurance?

Builders Risk insurance covers the physical loss or damage to any property over the course of a construction project. Because there are many types of construction projects, there are many areas of risk that need to be considered.

During the construction of a new building -- or the modification of an existing one -- damage can accidentally be caused to the structure or fixtures. Building materials and tools also require coverage, not only for breaking but also for storage and their transportation to and from working sites.

Builders Risk can also be known as Course of Construction insurance, Contract Works insurance or Contractor’s All Risk insurance.

Who Is Builders Risk Insurance For?

Builders Risk doesn’t only cover the individual contractors working on a project. Construction, development, and investment companies, as well as project owners/managers, lenders, and even materials suppliers can also benefit from a Builders Risk policy.

That’s not to say contractors aren’t eligible for coverage. Anyone you might typically associate with construction sites: electricians, carpenters, roofers, framers, welders, and others can all be covered under Builders Risk insurance. One rule of thumb: as long as the work is connected to the course of construction, regardless of the trade, Builders Risk insurance will still apply.

What Types Of Project Need Builders Risk Insurance?

Whether it is a residential or commercial building, there are several types of project that need Builders Risk insurance:
  • new construction
  • remodel
  • restructure
  • installation

What Does Builders Risk Insurance Cover?

It almost goes without saying, but many different things can go wrong on a building site, and each one can have very specific risk areas related to the construction. Generally, though, most Builders Risk insurance policies cover the following main areas:
  • damage caused by fire, wind, lightning, rain or hail
  • vandalism
  • building collapse
  • subsidence
  • impact from vehicles
  • loss or damage to building tools and materials on site (and their transportation/storage)
  • renovation or improvement costs
  • pollution clean-up and removal from site
  • back-up or overflow from sewers or drains

What Is Not Covered By Builders Risk Insurance?

Because Builders Risk is primarily related to the damage caused to buildings during construction, there some risks connected to construction operations that aren’t necessarily included in standard Builders Risk policies:
  • damage caused by a natural disaster (earthquake, hurricane or flooding)
  • machinery and equipment breakdown due to negligence
  • faulty design or workmanship
  • intentional acts or deliberate vandalism
  • additional works carried out on the same site (a new policy will need to be written for each project)
  • bodily injury or general liability claims

More extensive Builders Risk insurance policies may include some of these as add-ons or extensions, however they are not normally included under standard packages. It is important, therefore, to browse and compare different types of product available to see which one mostly fits your requirements.

How Much Does Builders Risk Insurance Cost?

The price of a Builders Risk insurance policy will depend on the size of the construction project as well as any additional costs for replacing and repairing tools or machinery. The larger the project, the more coverage you will need to pay for.

As some policies are more inclusive than others it may sometimes be cheaper to buy an extensive one rather than purchasing a basic policy with several expensive add-ons.