Builders Risk Insurance
Definition. Builders Risk covers buildings under construction — materials, fixtures, and equipment on a job site — until the project is completed and accepted.
Also known as: Course of Construction, COC Insurance
Required by most lenders for construction projects. Covers fire, theft, vandalism, weather, collapse during construction. Standalone policy or endorsement on a Commercial Package. Lapses when the building is occupied or accepted.
Example
Half-built house damaged by storm; $90K in framing and roofing materials lost. Builders Risk pays replacement.
Sources cited
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Reviewed by California-licensed Property & Casualty insurance agent
Jason Wootton (CA License #0I94454). Not insurance advice, an individual recommendation, or a solicitation in any state. Insurance regulations vary by state. For specific coverage decisions, consult a licensed insurance agent in your state.
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