Builders Risk Insurance in Massachusetts

Before You Build Your Next Project, Make Sure That Your Blueprint Includes Builders Risk Insurance Coverage

No matter the size of your construction or renovation project, safety is always a top priority. That’s why your blueprint for success should include the right builder’s risk insurance program. Don’t let your exciting new project turn into a litigation nightmare. Builder’s risk insurance from LoPriore offers flexible policy options that allow you to customize your coverage for your unique project.

Builders Risk Insurance Massachusetts

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Builders risk insurance covers property owners and builders during new construction or renovation products. If damages, accidents, or losses occur during construction, builders risk insurance can help you cover the costs.


When a building is under construction, your standard property insurance won’t provide coverage for damages related to the project. Additionally, if you finance your project, your lender will require you to purchase a builder’s risk insurance policy to protect their financial interest.


Anyone looking to protect their interests during the course of a new construction or renovation project would benefit from the purchase of a builder’s risk insurance policy. This may include homeowners, property owners, builders, developers, contractors, and house-flippers.

Coverage Details

Any type of construction project poses unique risks that usually aren’t encountered on personal or commercial property. For this reason, damages and losses related to construction or renovation projects aren’t covered by standard insurance policies. A builder’s risk insurance policy provides coverage for property owners and builders during construction. It is required if the construction project is financed through a lender. The following coverage may be supplied by your policy.

  • Fire
  • Lightning
  • Hail
  • Theft
  • Explosions
  • Vandalism
  • Protection for building materials while in transit
  • Coverage for building materials after installation
  • Windstorm coverage
  • Earthquake coverage
  • Protection for losses due to laws
  • Protection for damages due to ordinances

Additional Coverage to Avoid Gaps

Your builder’s risk insurance policy provides coverage for a wide variety of perils. However, there are exclusions you should be aware of. Exclusions to your builder’s risk insurance coverage may include the following. You can typically fill the gaps with additional optional coverage.

  • Earthquake
  • Water damage
  • Employee theft
  • Mechanical breakdown
  • Government action
  • War
  • Damage to Property left out in the open
  • Lastly, damage resulting from faulty workmanship or poor design

The exclusions in your builder’s risk insurance policy are covered by your commercial liability policy or additional optional coverage. It’s important to understand all the terms and exclusions of your insurance policy so you won’t end up underinsured in the event you need to file a claim.

Terms of Coverage

Builder’s risk insurance is designed to be flexible because no two construction projects are alike. You can get the coverage you need for your individual project with your standard plan or with the addition of optional coverage to fill the gaps. The limits you choose and the amount of time you need to complete your project may vary as well. This is where flexible terms of coverage can be helpful.

  • Limits of coverage: The size and scope of your project will be a major determining factor in how much insurance coverage you need. Additionally, your limits of coverage allow you to choose protection that covers the building’s value at the time of the loss, or its full amount at the time of completion.
  • Policy timeframe: A large project often takes considerably longer to complete than a small renovation. Your policy is active for the duration of the construction period only. Our flexible options include 6 month, 9 month, and 12 month policies.

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Builder’s Risk Insurance Frequently Asked Questions

Builder’s risk insurance can seem complicated if you’ve never participated in a construction project. If you have questions about the coverage you need for your project, don’t hesitate to get in touch with one of our experienced agents. Here are a few common questions about builder’s risk insurance.

Does a Builders Risk Policy Include General Liability Coverage?

General liability coverage offers additional coverage. It provides the property owner with premises liability coverage. Also, policyholders purchase another layer of liability coverage for products completed and operations.

Does a Builder’s Risk Policy Cover Building Materials Located at the Worksite That Are Not yet Installed?

Your builder’s risk policy covers building materials.

Does a Builder’s Risk Policy Cover My Subcontractors?

No, this is an important exclusion. Your policy requires your subcontractors to provide their own proof of insurance to the property owner.

How Do I Choose the Limits of My Builder’s Risk Insurance?

Builder’s risk insurance provides coverage for covered claims up to the limits of your policy. Therefore, your construction budget is the best source of information to determine the limits of coverage.

What If Construction Isn’t Complete When the Policy Expires?

If the project isn’t complete when the policy term is up, you may be able to get an extension. However, the extension is typically only available one time. On the other hand, the policy terminates upon completion if the project is finished early.

Learn More About Builders Risk Insurance in Massachusetts

There’s no way to anticipate the potential risks that might be involved during construction. No matter the size of your construction or renovation project, a custom policy from LoPriore should be a part of your blueprint for success. Our motto is insurance that fits your lifestyle. Thus, our builder’s risk policies offer flexible policy options and prices. To learn more about the benefits of builders risk insurance, or to get a quick quote, get in touch today. Don’t forget to ask our friendly staff about our other customizable personal and commercial insurance policies as well.

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