Builders Risk Policy

A Builders Risk Policy is a type of insurance that protects buildings and structures while they are under construction or renovation. It covers damages to the property from risks like fire, theft, vandalism, and certain weather events. This policy is typically purchased by contractors, property owners, or developers to ensure that their investment is safeguarded during the construction period. However, it usually does not cover accidents or injuries on the site, which would require separate liability insurance. Overall, it's designed to provide financial protection against unexpected losses during construction projects.