Renovation / Builders’ Risk Coverage


A practice owner who is renovating office space may need renovation insurance to cover losses during the renovation process. Standard business owner’s policies may not cover such risk. Policies may 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 may not cover builder’s risk. Policies are typically written for 6, 9 or 12 months. Most lenders may require that coverage be in place prior to your loan being disbursed. Without coverage for either situation, a total loss may be your financial responsibility. Do not assume your contractor will cover you for losses; their coverage likely protects them, not you.

For more information regarding any coverages listed on this site, email or call 800-944-7550. This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice to your situation. Request of a quote for coverage does not guarantee that coverage can be provided. Any misstatements or omissions of relevant information from a client can result in a price variation or even declination or rescission of coverage.