What is Builders Risk or Course of Construction Insurance?
Builders Risk Insurance is a form of property insurance specifically designed to cover buildings under construction. The rates for builders risk insurance are discounted because there is very little property at risk when construction begins. Builders Risk Insurance is not a standardized coverage form and coverage varies from insurance company to insurance company. OMNI Builders Risk is one of the broadest policies available on the market today. In addition to the structure, OMNI Builders Risk provides coverage for property in transit to the job site and property stored at temporary locations awaiting delivery. Coverage is also provided for temporary forms and bracing used in the course of construction as well as construction trailers and scaffolding.
