October 2, 2022

Builder's Risk Insurance

If you are building a new home or just doing an addition to your current home, you will likely need a Builder's Risk policy.  Many people mistakenly assume that they are covered under their Homeowners policy.  Almost all Homeowners policies either drastically limit, or completely exclude coverage for an addition or a home that is vacant and under construction.

Many people also mistakenly assume their general contractor (GC) will provide the coverage.  It is possible for the GC to carry the Builder's Risk coverage, but this should always be verified in writing and should not just be assumed that they have the coverage. 

The best solution is for you to purchase your own Builder's Risk policy.  Whether you purchase the policy yourself or whether the GC's purchases the policy, you will pay for it either way (the GC will pass the cost onto you). There are several advantages to getting your own policy:

  • Maybe the most imporyant fact, you will know that you actually have coverage.
  • You will also be able to work with us to make sure you not just only have coverage, but that you have sufficient limits of coverage.
  • You don't have to worry about the GC failing to pay the policy premium and having it cancelled for non-payment.
  • If you ever have to make a claim, you get to file the claim and don't have to rely on the GC.   The claim check will also be mailed to you and not the GC.



Home - Builders Risk2
Home - Builders Risk3
Home - Builders' Risk

Our Builder's Risk Insurance Companies Include the following:

AIG Private Client Group
AIG Private Client Group

Nationwide Private Client

US Assure


Contact us today for more information about Builder's Risk coverage.

3201 New Mexico Ave NW #300
Washington, DC  20016