Comprehensive Coverage for Construction Professionals
Essential coverage for structures, materials, and equipment during construction or renovation projects throughout New Jersey.
Builder's risk insurance (also called Course of Construction) protects buildings under construction, materials, supplies, and equipment from direct physical loss. This coverage is essential for new construction, renovations, and ground-up projects in Bergen County's active construction market.
Required for most construction projects in New Jersey
Primary responsibility for securing coverage on new builds
Owners may purchase to protect their investment
Essential for major renovations and additions
Multi-unit projects require master builder's risk policies
May need coverage when working as prime contractor
Construction loans typically require builder's risk
Damage from fire, lightning strikes, and resulting smoke
Stolen materials and malicious damage to the project
Storm damage to structure and materials
Burst pipes, rain damage through openings
Coverage while materials are being delivered
Costs to remove damaged materials
Seismic damage (available as add-on)
Rising water damage (separate policy needed)
Policies from 3 months to 2 years with extension options
Options from $1,000 to $25,000 based on project size
Soft costs, loss of rents, and ordinance/law available
Coverage continues during punch list and move-in
Cover multiple projects under one policy
Same-day coverage for qualified projects
Get an accurate quote based on your specific needs
Get Custom QuoteTheft coverage paid for replacement materials
Outcome: $35,000 claim paid quickly
Storm damage to structure and materials covered
Outcome: $75,000 restoration completed
Fire damage to building and cleanup costs
Outcome: $250,000 claim handled
Coverage should begin when materials are delivered to the job site or when construction begins, whichever comes first. Starting coverage late leaves gaps that could be costly. We can backdate coverage if work recently started.
Standard builder's risk covers materials that become part of the structure. Contractors' tools and equipment typically need separate inland marine coverage. We can bundle both coverages for complete job site protection.
Builder's risk coverage typically ends when the project is complete, occupied, or put to its intended use. You'll need to transition to a permanent property policy. We handle this transition seamlessly to avoid coverage gaps.
Yes, soft costs coverage pays for additional expenses like loan interest, real estate taxes, and professional fees if the project is delayed by a covered loss. This is especially important for larger projects with construction financing.
The policy should name all parties with an insurable interest: owner, general contractor, and lender. Additional insureds can include major subcontractors. Proper policy structure prevents disputes after a loss.
Consider these additional coverages for comprehensive protection
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