Renovation / Builders’ Risk Coverage


A practice owner who is renovating office space would need renovation insurance to cover losses during the renovation process. Standard business owner’s policies do not cover such risk. Policies can be written for 3, 6, 9 or 12 months.

Builder’s Risk

A practice owner who is constructing a new building (from the ground up) would need builder’s risk coverage to protect from losses during construction. Standard business owner’s policies do not cover builder’s risk. Policies are typically written for 6, 9 or 12 months.

Most lenders will require that coverage be in place prior to your loan being disbursed.

Without coverage for either situation, a total loss will be your financial responsibility. Do not assume your contractor will cover you for losses; their coverage protects them, not you.

For more information regarding this coverage, email or call 800-944-7550.