Builder's Risk Insurance

Cover Your Unprecedented Risk Exposures with Builder's Risk Insurance

Just like finished buildings, unfinished buildings (either under construction/renovation) are also prone to damages from theft, vandalism, natural disasters, and more, leaving you liable for the losses. In this case, a builder's risk insurance policy is crucial to cover the under-construction buildings and their fixtures/materials from damage caused by these perils. At Bema Insurance, we offer a best-in-class builder's risk policy to have you covered against the loss/damage to property during construction.

Cover Your Unprecedented Risk Exposures with Builder's Risk Insurance
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Who Needs Builder's Risk Insurance?

Any person or organization with an insurable interest in the property that is being constructed or renovated must have a builder's risk policy, including:

  • General contractors
  • Subcontractors
  • Property owners
  • Lenders
  • Architects
  • Engineers
  • Development companies

Available Coverages With Builder's Risk Insurance

A basic builder's risk insurance policy covers:

  • Damage to the building materials and supplies either when stored off-site or during transit.
  • The structure being built or renovated.
  • Equipment awaiting installation or installed in the building during construction
  • Soft costs/expenses incurred from a covered loss or damage, such as rental income, real estate taxes, lost sales, and additional interest on loans.
  • Damaged or lost blueprints and data

Besides these, you can add coverage extensions to cover:

  • Temporary structures, such as signs and scaffolding units
  • Construction forms
  • Debris removal or pollutant cleanup after a covered loss
Available Coverages With Builder's Risk Insurance

Types of Builder's Risk Policies Available

At Bema Insurance, we know what it takes to protect your under-construction properties. That's why we offer various types of builder's risk policies built around three types of construction, such as new construction, installation, and renovation (including or excluding the existing structure).

Single Project/ One-Shot Policy

Covers contractors and residential/commercial property owners against one new construction, installation, or renovation project.

Blanket Deposit Premium Policy

Designed for contractors working on 25 or more commercial or residential new construction projects per year.

Reporting Form Policy

Designed for contractors with 2 or more commercial and residential new construction projects worth up to $3 million.

Blanket Installation Policy

Designed for trade contractors with commercial and residential projects.

Rest Assured Against All the Risks with Our Builder's Risk Coverage

Rest Assured Against All the Risks with Our Builder's Risk Coverage

Whether it is a high-rise commercial construction or residential renovation, a customized builder’s risk policy from Bema Insurance will help protect it against unfortunate incidents and resulting losses. With over four decades of experience in the insurance field, we bring in professionalism and extensive product knowledge while tailoring policies according to your specific needs. With us by your side, you can construct/renovate your property without worrying about potential mishaps.

Contact us today at heena@bemainsurance.com or call us at (678) 528-9576 to get started on affordable all-inclusive builder's risk insurance.