Builder's Risk Insurance

Protect your business from losses and property damage that happen while a project is underway.

Property protection for construction projects in progress

Builder’s risk insurance protects contractors against loss and damage to buildings, materials and equipment while a project is underway. It covers a wide range of common risks like theft, storms, fire, and accidents.

“My company operates 14 semi-trucks hauling ethanol in the Midwest. I invested in dashcam technology to be a more efficient and safe operation but I was not getting any benefit on my insurance program until I met the folks at Leif. Leif increased my umbrella coverage $2 million and saved us $62,000 on commercial auto spend.”
Current Leif Customer

Address the following risks with builder's risk insurance

Contractors face unique challenges that make builder’s risk coverage absolutely essential.

  • Theft and vandalism: Valuable materials and equipment on site are common targets.
  • Storm damage: Before the structure is enclosed, projects are vulnerable to damage from heavy rain or wind.
  • Faulty materials or workmanship: When these defects surface late in a project, rework and repairs can be very costly.
  • Equipment breakdowns: When essential equipment breaks, you’re on the hook for repairs, rentals, and project delays.

Our construction specialists will tailor an insurance program to your business addressing these risks and more.

Contractor with builder's risk policy

Safety-focused contractors receive more discounts.

Today, we have technology proven to reduce risk. This gives safety-focused contractors an opportunity for better coverage at lower rates. Here’s how we use innovative insurance solutions, AKA: Real-Time Risk Management, to help contractors boost productivity, protect their operations, and win more jobs.


Reduce risk and costs across all lines of insurance

Fleet management technology impacts more than your equipment insurance. Connected assets reduce risk across the board.

Objective dashcam footage of incidentsFewer paid auto claims =

Operator behavior warnings =Fewer commercial insurance claims

Location and usage data = Fewer theft and third-party liability claims

Timely maintenance =Less downtime and loss of use claims

With an improved claims experience and a proven commitment to managing risk, you’re in the best position for the best rates. We’ll help you get them.

Multi-state coverage for contractors of all trades


Builder's Risk FAQs

Builder’s risk insurance is a specialized type of property insurance, also called course of construction insurance. It protects the property on a construction site. Builder’s risk is important coverage for general contractors, subcontractors, building owners, and even architects and engineers. For construction projects, the general contractor often purchases the policy, and then adds the other parties as additional insureds.

Builder’s risk insurance typically covers property on a construction site when it’s damaged by unexpected events like fire, vandalism, and accidents. While policies vary, it usually protects the building that’s being built, on-site materials and equipment. It may also cover materials that are damaged or lost in transit to the site. Builder’s risk insurance usually covers all causes of loss that are not specifically excluded. Excluded causes of loss could include employee theft, flooding, and manufacturing defects.

The coverage limits for your Builder’s risk policy are based on your construction budget, which reflects the total completed value of the project. This value includes all materials and labor costs and excludes land value.

Yes, if the project’s total completed value becomes bigger, you can increase your coverage. And you should, to avoid coverage gaps. Changes to the completed value are common in construction. Just let us know, and we’ll add a change order endorsement to your Builder’s risk policy.

Your Builder’s risk policy lasts until the project is complete. Your policy might consider the project complete when the purchaser accepts the structure, when the building has occupants, or when the structure has been complete for more than a certain period of time (often 90 days). Your insurance agent can tell you exactly when your policy will end.

More than an insurance agent:
Our Consultative Approach

As your construction operation grows, your risks compound. Leif’s in-house experts help you create risk and bond strategies tailored to your business.

At Leif, we use a consultative approach to provide ongoing guidance. Our proven five-step process ensures your risk management plan aligns with your goals.

Consultative risk management services

Your Leif team can help with the following services, included in your partnership.

  • Contract alignment review
  • Claims consulting
  • Exposure analysis
  • Loss control techniques
  • Safety education and training
construction workers

Personalized serviceyou can count on, every time

We deliver exceptional service across all lines of insurance by promising to:

  • Identify coverage gaps and quickly secure new policies
  • Partner with strong carriers to offer the best program available
  • Respond quickly to calls, texts, and chat during business hours
  • Offer after-hours claims consultation for 24/7 emergency support
  • Deliver most COIs within 2 business hours and bonds overnight
  • Create a strategy to maximize your bond capacity for growth

Whether you’re a large multi-state firm, local trade contractor, or something in between – you can hold us to our promise.