Builder’s Risk Insurance
Protection built for residential homebuilders.
What is Builder’s Risk?
Builder’s Risk insurance helps builders or homeowners protect their new builds or remodeling projects from risks like fire, theft, vandalism, or severe weather during construction. Having a policy in place before work begins is a standard part of protecting a project from day one.
- Buildings under construction: direct physical loss or damage to structures while they are being built.
- Materials and supplies: materials that will become a permanent part of the project, whether on site or in temporary storage.
- Temporary structures and scaffolding: protection for scaffolding, construction forms, and temporary fencing at the jobsite.
- Fire, theft, and vandalism: protection against common causes of jobsite loss.
- Windstorms, hail, and lightning: damage caused by windstorms, hail or lightning.
- Debris removal: costs to remove debris from covered property following a covered loss, subject to policy limits.
Why ViCoverage?
Compared to many traditional Builder’s Risk policies, ViCoverage includes higher limits for materials in transit and temporary storage, expanded coverage for scaffolding and debris removal, and stronger protection for expediting expenses that help keep projects on schedule.
Competitive pricing for residential construction projects
Coverage limits up to $2.5M per project
Higher limits for materials in transit and temporary storage
Expanded coverage for scaffolding, debris removal, and project acceleration costs
Flexible deductibles ranging from $1,000-$5,000
Frequently Asked Questions
What is covered by Builder’s Risk?
Builder’s Risk covers sudden, accidental physical damage to a building under construction, the materials that will become part of it, certain temporary jobsite structures, and limited materials in transit or storage.
What’s not covered?
Builder’s Risk does not cover floods or earthquakes, faulty workmanship or design errors, normal wear and tear, mechanical breakdowns, or financial losses like delays, lost income, soft costs, or contract penalties.
What happens if the project value increases during construction?
The policy limit should match the full completed value. If the project is underinsured, claim payments may be reduced due to coinsurance. To update your policy limits, contact us at support@vicoverage.com.
Is there a deductible?
Yes, each claim is subject to the deductible shown on your policy, which is the amount you are responsible for before insurance responds.
How do I file a claim?
After purchase, you can create a free account in our Customer Portal. The portal will display a full list of your active policies and links to begin the claims process. Click here for instructions on how to create an account.
Can I cancel my policy?
If you are not satisfied with the product for any reason, you have the option to cancel your policy within ten (10) days of the initial purchase date – as long as you have not filed a claim. To cancel your policy, please contact us at support@vicoverage.com.