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Builders' Risk Insurance

Construction projects face a wide range of risks before the first tenant ever walks through the door. From weather damage to theft, vandalism, and unexpected accidents, every new build carries exposures that can derail timelines and drive unexpected costs. A tailored builders' risk policy helps protect residential and commercial construction projects against these losses. 

Novatae partners with retail brokers to deliver builders' risk insurance programs backed by A-rated carriers. Our wholesale expertise and MGA capabilities allow us to provide flexible solutions, whether your client is a general contractor, developer, or property owner. With fast quoting and binding available online, we help brokers secure coverage designed to fit the pace and complexity of construction projects. 

All accounts are subject to underwriter review and program terms and conditions. 

PROGRAM HIGHLIGHTS
  • Annual or monthly reporting form policies available
  • $500K per structure limit; $2.5M aggregate loss per subdivision
  • Higher limits up to $1M/$5M available with carrier approval
  • No deposit or earned minimum premium required
  • One-shot policies available up to $5M per structure
  • Policies available in the name of the owner, mortgagee, or developer
  • Carrier: Cypress Property & Casualty, rated "A" (Unsurpassed) by Demotech, Inc.

Core Target Classes

Residential Single-Family Homes

Coverage for contractors and developers constructing new single-family homes, protecting projects from foundation to finish. 

High-Value Custom Homes

Specialized protection for luxury and custom home builds, addressing the higher replacement costs and complex exposures involved. 

2-4 Unit Residential Structures

Builders' risk policies tailored to smaller-scale multi-unit developments, offering coverage for common construction risks. 

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FAQs for Builders' Risk Insurance

What is builders' risk insurance?

Builders' risk insurance is a specialized property policy that covers buildings under construction, protecting against losses such as fire, theft, vandalism, or weather-related damage. 

Who needs a builders' risk policy?

General contractors, developers, property owners, and mortgagees should consider a builders' risk policy for projects ranging from single-family homes to commercial developments. 

What does a builders' risk policy cover?

Typical coverage includes structures under construction, materials on site or in transit, and temporary structures. Coverage helps protect against risks like fire, theft, wind, and vandalism. 

What types of projects are eligible?

Eligible projects include new single-family homes, custom homes, multi-unit residential builds, light commercial developments, mixed-use structures, and apartments. 

What are common exclusions?

Exclusions typically include employe theft, wear and tear, workmanship defects, and certain natural disasters (such as earthquakes or floods) unless specifically endorsed.

Is coverage available nationwide?

Yes, Novatae's builders' risk program is available is most states, with limits and terms subject to underwriting review and carrier approval. 

Why Partner with Novatae?

  • Wholesale and MGA expertise in placing specialty risks
  • Access to builders' risk policies through A-rated carriers
  • Fast quoting, binding, and issuing via online platform
  • Flexible options including annual, monthly, and one-shot policies
  • Ability to tailor coverage for both residential and light commercial projects

Novatae helps retail brokers secure builders' risk insurance programs that protect construction projects from the ground up. With flexible coverage and nationwide access, we deliver solutions that align with your clients' timelines and exposures.