Builders Risk Insurance in Texas

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Builders Risk Insurance in Texas

Also providing insurance to residents in Colorado, Kansas, New Mexico, and Oklahoma

What is builders risk insurance?

Construction projects are major undertakings, and there are many risks that can delay or outright prevent completion. When something happens to a construction project in Texas, builders risk insurance might provide financial help.

Builders risk insurance provides special coverage for construction projects while they’re underway. If a covered incident causes delay or cancelation, the insurance might compensate affected parties.

Who in Texas can benefit from having builders risk coverage?

Any stakeholder involved in a major construction project might want builders risk coverage in place. Texas general contractors, subcontractors, lenders and property owners may benefit from coverage. 

Contractors are usually the ones to purchase the policy, as they’re usually the ones held responsible if a project fails. Lenders and owners might require contractors to carry coverage when working on a larger project, and contractors should consider coverage even if it’s not required. Less often, lenders or property owners themselves might purchase coverage

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Builders Risk Insurance Texas

What do builders risk policies extend coverage to?

Builders risk policies may provide coverage for equipment, supplies and completed work that’s damaged by a covered peril. Equipment and supplies are normally covered when they’re on the job site.

A policy’s particular terms and conditions dictate exactly what can be covered, but coverage is usually available for equipment and work such as the following:


Large equipment, heavy equipment and specialized equipment


Common tools, specialized tools and safety gear


Materials and supplies


Structures under construction

Exactly what equipment and structures are covered depends on the terms of a policy. Some policies only cover equipment on site, while others cover equipment at different locations. Some policies only cover certain types of structures, but others have more encompassing protections for structures.

An insurance agent who specializes in builders risk policies can help stakeholders make sure their chosen policy covers all necessary equipment and structures.

Builders Risk Insurance Texas

What types of construction projects are builders risk policies available for?

Builders risk policies are readily available for larger construction projects. They might be purchased for new residential developments, new multifamily residential buildings, new commercial or industrial buildings, and major additions or remodels of these. Policies are often also available for public works projects, and sometimes major hardscaping or landscaping.

Policies are less often purchased for the construction, remodel or addition of a single house. If coverage is really wanted in this situation, however, a knowledgeable insurance agent may be able to find a policy.

What kinds of perils do builders risk policies protect against?

Builders risk policies might cover a variety of perils, possibly including weather, water damage, theft, vandalism and other risks. Named perils policies usually list the perils they cover, while open perils policies usually cover perils except those that are listed as exclusions. In general, open perils policies provide more extensive coverage.

To review exactly what a specific policy covers, contractors should review the specific policy with a knowledgeable insurance agent. 

Builders Risk Insurance Texas

How can builders risk coverage be purchased?

Builders risk coverage can be acquired several different ways, depending on other insurance needs and the specifics of a project. The coverage is available through standalone policies, but purchasing the coverage by itself frequently isn’t the best option. 

The coverage is more often combined with other coverages in a commercial package policy. Commercial package policies provide many and highly customizable coverage options. These policies typically offer the most flexible coverage options at the lowest rates.

Occasionally, builders risk may instead be added onto a single coverage through an endorsement. An endorsement adds a specific protection onto a policy for a nominal increase in premium.

How can contractors in Texas get builders risk insurance?

For help covering a Texas construction project with builders risk insurance, contact the independent insurance agents at Kirk Insurance Agency. Our agents have helped get insurance for many construction projects in the state, and we have the expertise to help you find builders risk coverage for your project.

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