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Builders’ Risk Insurance

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Spotlight on: Builders’ Risk

If you have a financial interest in a construction project, you would be wise to consider builders’ risk insurance.

As a general contractor, architect, engineer, property owner, subcontractor or other interested party, you want to avoid being sued for an unexpected loss of materials or tools.

Where financing is involved, a lender will typically require stakeholders to carry builders’ risk coverage, stipulating that they’re listed as named insureds on the policy.

Most builders’ risk policies also include an endorsement known as a waiver of subrogation.

A waiver of subrogation legally prohibits the insurance carrier from recovering money paid on a claim from a negligent third party. This endorsement protects a project owner from being sued by the carrier for claims occurring on the job site.

We know what environmental, occupational and financial uncertainties can threaten the construction industry through years of serving a wide range of construction professionals.

Construction professionals we serve include:

  • Commercial General Contractors
  • Commercial Subcontractors
  • Homebuilders
  • Industrial Contractors
  • Utility Contractors
  • Trade Contractors
  • Street and Road Contractors
  • Public Works Contractors
  • Materials Dealers

Why builders’ risk insurance from Higginbotham?

Employee owned and customer inspired, we have the freedom to do what’s right for our clients.

Higginbotham has placed insurance for large and small construction companies and helped control their cost of coverage by providing effective safety and risk management services.

Regardless of the construction projects you take on and the insurance coverage you need, Higginbotham is here to help. Our tailored insurance products are built for the unique needs of each construction company we serve.

No matter the protection that’s right for you and your business, we’ll proactively advocate to get you the most competitive prices today and deliver year-round value.

Firmly committed to transparency and authenticity, we use our independence to get things done that others can’t.

Because when you lead with values, value leads.

To learn more about how our values-based approach drives value for you and your business, click here.

Or visit our Insights page to learn more about your insurance options.

Need a partner in finding comprehensive insurance? We’re here to help.

Making sure you have the most effective insurance plan can be daunting. Not with us on your side. With our nationwide network of insurance carriers and builders’ risk experience, we’ll find you what you need.

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What does a builders’ risk insurance policy cover?

Also known as “course of construction” insurance, this specialized coverage starts on the effective date outlined in the policy documents and stays in place until the project is finished.

Builders’ risk insurance is designed to protect against building damage, lost or damaged materials, and fixtures and equipment used in construction or renovation. The project’s estimated completed value is typically used as the limit of coverage, and protection ends when the work is completed.

This coverage should be considered as crucial protection for any contractor, property owner or other party with a financial interest in a construction project.

It’s about the services, we love giving great services, Higginbotham loves great services, and I just see that going on for decades to come.  If its insured, it’s Higginbotham.

Vince P.
President of Sales and Marketing, Office Systems Industry

Property eligible for coverage under a builders’ risk policy includes:

Buildings and Structures Under Construction

Uninstalled Materials and Fixtures

Tools and Equipment

Other Supplies

Builders’ risk insurance can help cover the cost of:

Lost Sales Income

Lost Rental Income

Real Estate Taxes

Interest on Loans

Builders’ risk can protect against loss due to:








Windstorms and Hail

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GettyImages 129942793
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Other Common Exclusions

While builders’ risk may seem simple, this coverage is frequently misunderstood. Just like every construction project is different, each builder’s risk policy can also vary.

A standard builder’s risk policy typically excludes coverage for property damage caused by earthquakes, floods and wind in certain disaster-prone areas, but you can usually purchase coverage extensions to help bridge the gap.

Some other common exclusions include:

  • Damage Resulting from Negligent Planning, Design or Workmanship
  • Acts of Terrorism and War
  • Mechanical Breakdowns
  • Rust and Corrosion
  • Improper Bracing
  • Faulty Materials
  • Employee Theft
  • Wear and Tear

If you need additional coverage outside of your policy’s standard coverage limits or provisions, extensions and endorsements are often available to help control unique risks.

Talk to a seasoned construction insurance professional today to learn more about the coverage that makes sense for your project.

Construction Risk Management

At Higginbotham, we know builders’ risk and other construction industry coverages can make or break a project.

That’s why we take the time to understand your unique risks and tailor coverage to your specific needs.

Safety programs can help control and even lower your insurance costs. Our risk consultants offer safety training to help lower the frequency and severity of accidents, thereby reducing injury claims and improving your loss ratio to minimize hikes in your insurance premiums.

We also train in OSHA. So, when accidents do happen, you have proper recordkeeping procedures that keep you compliant to avoid fines.

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Not sure where to start? Talk to someone who wants to listen.

A great plan starts with a conversation. Let’s talk about what you need.

Talk to a Builders’ Risk Specialist

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