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Builder’s Risk Insurance Policy Guide Construction Projects & Materials Coverage Houston, TX-based BuildersRisk.net has launched an online guide that’s designed to give a simple overview of Builder's Risk Insurance coverage, covering the most common questions clients may have about obtaining a policy. It aims to give prospective clients a basic understanding of the types of coverage offered, the importance of that coverage, and the different policy options. The goal is that the information will give clients the information needed to ask their agent the right questions so that they’re able to obtain a policy that will meet their needs. Builder's Risk is a specialized form of insurance specifically designed to protect buildings and structures that are being built or renovated. This includes ground-up new construction, remodelling, and installation. These projects are classified as either a residential or commercial risk. Not only does it cover the costs of construction, it also can cover the equipment and materials being used in the construction project. A contractor’s General Liability policy offers no coverage if building or materials are damaged. The coverage can include protection for materials and equipment added to the property such as elevators and HVAC systems, labor costs and expenses, as well as temporary structures such as scaffolding and even landscaping. A basic policy would start at a minimum premium of $700 for twelve months. This policy will generally cover projects up to $200,000 in value. The cost will also depend on the type of coverage and exclusions that the policy contains. BuildersRisk.net has a free quote tool available, for clients looking for the best risk insurance policy available to them. Another factor into the cost is the location of the project. In areas that are susceptible to wind, flooding, and other extreme weather the prices are often higher. Damage from the following events will be covered by most builder’s risk policies: fire, lightning, hail, theft, vandalism. If you are in an area that is subject to extreme weather, additional coverage may be required for things like flood, wind damage, and earthquakes. There are other options you can add to a basic builder's risk insurance policy. Go to buildersrisk.net for more information!