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A builders’ risk insurance policy protects a construction project and almost everything that’s part of the process as soon as it’s on location, including the actual structure and even building site necessities such as porta potties.

The biggest difference between policies is what they protect against, like fires, explosions and falling objects.

Builders’ risk insurance policies will fall into three different forms of coverage: basic, broad and special.

  • Basic: Protects against fire, lightning, wind, explosions and more.
  • Broad: Protects against everything included in basic, as well as several additions like falling objects, water damage and a few more.
  • Special: Protects against theft and everything else.
  • Exclusions and claims not covered: The three forms of coverage will not protect against accidents, injuries and liability risks, as well as certain natural disasters like floods and earthquakes. Also, any peril that is specifically excluded from the policy will not be covered.