A project under construction sits in a coverage gap: it's not yet a finished, occupied building a commercial property policy would insure, but there's enormous value on site — framing, materials, fixtures, and equipment — exposed to fire, theft, wind, and vandalism. Builders risk insurance, also called course-of-construction coverage, fills that gap for the duration of the build. Maru arranges builders risk for owners, general contractors, and developers across Washington and Florida.
What builders risk covers
| Coverage | What it protects |
|---|---|
| Structure under construction | The building itself as it's being built |
| Materials & supplies | On-site, in-transit, and at temporary storage |
| Fixtures & equipment | Installed and to-be-installed components |
| Debris removal | Cost to clear a site after a covered loss |
| Soft costs | Lost income, interest, and fees from a covered delay |
| Wind, fire, theft, vandalism | Core perils during construction |
Who needs it and who buys it
Builders risk is typically purchased by whoever bears the risk of loss during construction — often the property owner or developer, sometimes the general contractor, as the contract specifies. It's used for new construction, additions, and major remodels. Lenders almost always require it before releasing construction financing. We help structure the policy term to match your build schedule, with extension options if the timeline slips, so coverage doesn't lapse mid-project.
Washington and Florida exposures
Florida projects carry hurricane and windstorm exposure that must be addressed in the builders risk terms, and coastal builds may need specific wind provisions. Washington projects face windstorm, heavy rain, and theft of copper and materials from open sites. In both states, we coordinate builders risk with the contractor's general liability and the owner's coverage so responsibilities are clear and there are no gaps between policies.
Frequently asked questions
Why won't a commercial property policy cover my project?
Who should buy the builders risk policy?
What happens when construction is finished?
Can the policy be extended if my project runs long?
Licensed independent insurance agent · WA & FL
Written and reviewed by a licensed Maru advisor. Maru Insurance is an independent agency (License #22261820) representing multiple A-rated carriers across Washington and Florida.
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