Builders Risk Insurance – Course of Construction Insurance


Course of Construction Insurance & Builders Risk Insurance
By: Allen Financial Insurance Group

Contact us for a no obligation builders risk insurance – course of construction insurance quote today.

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   We’ve enhanced our Builders Risk policy issuance system to make it easier than ever to do business with us.  Our online system can now accommodate even more of your Builders Risk business.

Custom homebuilders, general contractors and even property owners often find themselves searching for insurance coverage to protect personal or business projects under construction. Course of Construction insurance protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause; it is often required to comply with government regulations or as a condition to meeting banking or other contractual arrangements. While a builders risk policy itself is relatively simple to obtain, ensuring the proper coverage, limits and policy type are in place requires a core understanding of the industry and the associated risks which occur during the course of construction.

We’ve expanded our Remodelers program to include additional classes of eligibility.  You can now turn to AFIG Builders Risk Insurance for all your remodeling needs from minor cosmetic remodeling to major renovations with structural changes.


Our Builders Risk Policy is the industry leader offering broad, flexible coverage options to meet the special insurance needs of even the largest residential or commercial construction project. Our competitive coverage includes an extremely broad policy, including:

  • Coverage for theft of materials from the moment they’re delivered to the job site.
  • Protection for materials in-transit and at temporary locations.
  • Coverage for materials that are installed or uninstalled.
  • Coverage for losses due to ordinances or laws.
  • Fire Department Service Charges
  • Errors and Omissions coverage.
  • Flood & Earthquake coverage optional.
  • 24 hour Claims Service.
  • Immediate telephone quotes and same day coverage!

An added benefit of the Builders Risk Plan is the Reward Program that offers up to $10,000 in reward money to help deter arson, vandalism and theft at the job site

Our Course of Construction Insurance team is pleased to introduce a new Contractors Equipment policy to complement our course of construction products. Scheduled or blanket coverage is available for scheduled values up to $10 million, and this coverage is available on a mono-line basis or in conjunction with Builders Risk Insurance or other package policies

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Policy Description : Builders Risk Insurance

Builder’s Risk Insurance, also known in some areas as Course of Construction Insurance, is a unique kind of property insurance. It’s a form of insurance, which covers a building where the building or insured area is presently being constructed. It can cover just the structure, or also the materials on site waiting to be installed or transported to the job site and is an insurance that most owners will ask every contractor to carry.

This is a policy is designed to provide coverage for buildings while under construction.  It covers the contractor’s interest in materials at the job site before they are installed, materials in transit intended for the job and the value of the property being constructed until it is completed and accepted by the owner.  The policy may be written to cover the whole structure for New construction or the cost of Remodeling  and Renovation projects.  It can also be used to cover specific projects such as a new room addition, a deck or a remodeled kitchen.

The named insured of a Builder’s Risk policy is usually the contractor or developer of the property.  However, it may be the building owner or homeowner if they are responsible for insuring the property while under construction.  A mortgagee or lien holder may be added as an additional insured at no additional charge.

The standard deductible is $500.  However, other deductible amounts are available and the deductible applies only once per loss.  Higher deductibles will help to significantly lower your premium.

Basic Eligibility
  • The Builders Risk Coverage Form (40471) provides coverage for residential and commercial structures with values up to $3 million, subject to certain underwriting guidelines and restrictions. The Builders Risk Plan is flexible — Service Representatives and Underwriters are available to assist with coverage for structures that fall outside of these general guidelines. Call (800) 874-9191 for assistance.
  • Builders must have two years experience unless otherwise qualified. Three years experience is required when requesting coverage for commercial structures with total estimated completed values greater than $3,000,000.
  • Catastrophic Limit is $5 million per policy.
  • Policy can be issued in the name of the homeowner/mortgage if the builder qualifies
Underwriting Guidelines
  • Structures with total estimated completed values greater than $1,500,000 located in protection classes 9 and 10 and all structures with values over $3,000,000 require prior approval. Submit Increased Limits Questionnaire or Commercial Builders Risk Application.
  • Construction cannot be more than 30% complete at time of the policy’s effective date. Special coverage is available for structures that are more than 30% complete. Call 800.874-9191 for assistance.
  • Existing structures over 75 years old require prior approval and a photo may be necessary.
  • Property located on barrier islands may be referred for coverage if wind and hail is placed in a wind pool. The states that provide wind and hail pools are Florida, Georgia, Mississippi, North Carolina, South Carolina and Texas.
  • Coverage on property located within 1,000 feet of tidal water or on a barrier island cannot be written unless eligible for a wind pool.
  • Coverage will be limited to the original start period and may be renewed for up to two additional years.

Course of Construction Insurance
Information Form

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Contact us by phone (800) 874-9191, FAX (602) 992-8327
or email below for more Builders Risk information.

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