As a contractor, one has to be concerned about the work site, not only during the hours while your crew are present and active, but during the time when no one is around. How do you ensure that your equipment, materials, vehicles, and other infrastructure are not at risk while you are not present at the job site?

Builder’s risk insurance covers the job site and project while it is under construction, while also providing coverage for raw materials, tools, and infrastructure being used to construct the project in question. It typically will cover incidents including theft, vandalism, fire, and other environmental damage, though that might be limited, depending on the type of project and jurisdiction where the project is located.

Builder’s risk insurance is not a replacement for other types of coverage, such as liability, or for personal property in the work site. It should also be noted that there is no such thing as a “standard” builder’s risk policy, with coverages changing from provider to provider with a high degree of ability to customize coverage.

To get a builder’s risk policy tailored to your company and current projects, it’s best to find a local insurance agent who can perform a full evaluation of your needs. Make sure that your policy is designed for your specific industry and company. Koch Insurance Group can evaluate, advise, and design the right builder’s risk coverage for your contracting business.