Best Builders Risk Insurance for Contractors (2026)
For contractors, builders risk starts with the contract: it decides whether the owner or you buy the policy and who pays the deductible. Then check when coverage ends if the job runs long, how subcontractors are covered, and what the standard form leaves out, including your own tools and equipment.1,2,6
8 providers document Builders Risk Insurance for contractors. Chubb, Aon and Coverdash rank highest on Spot’s evidence ranking.
Updated
Which Providers Document Builders Risk Insurance for Contractors?
- Rank 1
Named for Contractors
- Carrier & MGA Spot Score · Assessed 2026-09-23 · Chubb Limited as group parent and the exact US insurer entities in the cited materials. Current authority is independently verified for…
Chubb targets contractors, developers, owners or homebuilders with an active construction program and a strong property-preservation management approach. 8
Company-reportedTarget clients section.
- Rank 2
Named for Contractors
- Broker Spot Score · Assessed 2026-09-29 · Aon group commercial insurance brokerage, assessed at brand level from Aon's published terms, its 2025 SEC filing, and U.S., U.K. and Irish…
Aon describes its global construction and infrastructure practice as serving contractors, owners, developers, engineers, architects, designers, financiers and investors, and says it works with organizations of varied sizes and complexity. 10
Company-reportedAudience described for Aon’s global construction and infrastructure practice. It does not establish U.S. state availability or underwriting eligibility for a placement.
- Rank 3
Named for Contractors
- Broker Spot Score · Assessed 2026-09-22 · Coverdash Insurance Services, LLC as the licensed broker/agent and Coverdash, Inc. as the technology/brand entity. The cited materials do…
Coverdash markets builder's risk coverage to property owners, general contractors and developers, saying it's usually required by lenders and project agreements for a project from the ground up until it's complete. 11
Company-reportedWho it's for section and FAQ; illustrative audience, not an exhaustive eligibility list.
- Rank 4
Named for Contractors
- Broker Spot Score · Assessed 2026-09-22 · HUB International Limited and relevant U.S. subsidiaries as a commercial insurance broker and consulting group for U.S. technology and…
HUB markets this solution to project owners, general contractors and developers of both frame and non-frame construction projects. 12
Company-reportedLaunch press release target-market description.
Read the Full HUB International Builders Risk Insurance Page
- Rank 5
Named for Contractors
- Broker Spot Score · Assessed 2026-09-22 · Heffernan Insurance Brokers retail brokerage and Heffernan Network Insurance Brokers subsidiary/service activity. Neither is treated as a…
Heffernan says its construction insurance brokers serve general contractors, subcontractors, specialty and trade contractors, developers and design/build firms across sectors including alternative energy, concrete construction management and engineering, and lists a network of more than 1,000 contractor and developer clients nationwide. 13
Company-reportedConstruction page sector list and client-count claim; client count is company-reported and not independently verified.
Read the Full Heffernan Insurance Brokers Builders Risk Insurance Page
- Rank 6
Named for Contractors
Not ratedSpot Score
The page addresses contractors and property owners with single projects or portfolios and describes construction projects ranging from buildings to infrastructure; its published project thresholds apply only to the named program option. 14,15
Company-reportedLiberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.
- Rank 7
Named for Contractors
No review scoreReview Score
- Broker Spot Score · Assessed 2026-09-29 · Limited to the licensed agency Harper Global Enterprises Inc., doing business as Harper Global Insurance Agency, acting as a commercial…
Harper says Construction & Contractors coverage, including builders risk, is for general contractors managing subs, specialty trades such as roofing, framing, electrical, plumbing and HVAC, remodelers and handymen, residential and commercial builders, and construction managers. 16
Company-reportedConstruction & Contractors industry page 'Who this is for' section; not builders-risk-specific eligibility criteria such as project value or completion timeline.
- Rank 8
Named for Contractors
No review scoreReview Score
- Broker Spot Score · Assessed 2026-09-22 · Alliance Risk Insurance Services LLC, the subsidiary agency named in Alliance's terms and the single licensee of record under National…
Alliance Risk lists property owners, real estate investors, developers, general contractors, construction managers, and architecture and engineering firms as common builders risk buyers. 17
Company-reportedBuilders risk product page, Who Needs Builders Risk Insurance? section.
How Did Spot Rank Builders Risk Insurance Providers for Contractors?
Spot lists a provider only when its published Builders Risk Insurance information includes a documented claim (verified or company-reported) about eligibility, role, coverage or application that mentions contractors. “Named for Contractors” marks a provider’s own statement of who it serves; “Related mention” marks a role, coverage or application claim.
Providers with both a Spot Score and a Review Score rank first, then providers with one of the two, then providers with neither. Within each group the order is the equal-weight average of the scores the provider has, as in the industry guides; ties break on fit, then the number of documented claims, then name.
The Spot Score comes from Spot’s reliability assessments and the Review Score from the provider’s rated review sources. Neither measures whether a policy fits your business or what it costs. How Spot Scores work.
Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. Editorial policy.
What Do Contractors Need From Builders Risk Insurance?
The contract decides who buys it. AIA Contract Documents says usually, but not always, the owner buys the builders risk policy, and that the owner and contractor may decide the contractor is better placed to buy it, in which case the owner typically reimburses the premium. Public contracts go both ways: Washington's state facility general conditions and Texas's uniform general conditions, where builders risk applies, have the contractor buy the policy, while New York's general conditions have the State provide it.1,2,3,4
Your subcontractors should be on the policy. Texas's uniform general conditions require the policy to be written jointly in the names of the owner and contractor with subcontractors named as additional insureds. Washington's contract covers the interests of owner, contractor and subcontractors, and the owner and contractor waive subrogation rights against each other and the subcontractors for damage covered by the property insurance. Sonoma County's risk guide says most experts recommend a single builders policy cover the owner, general contractor and all subcontractors.2,3,9
Which Builders Risk Exposures Do Contractors Face?
A late job can outrun the policy. In ISO's specimen builders risk form, coverage ends on triggers that include policy expiry, acceptance by the purchaser and, unless the insurer specifies otherwise, 90 days after construction is complete or 60 days after a building is occupied or put to its intended use. One program's tip sheet says renewals are not automatic and that an unfinished project may be renewed after more underwriting review. New York's contract requires policies expiring before physical completion to be renewed and re-filed at least thirty days before expiry.4,6,7
In ISO's specimen, your tools and the existing building are not covered property. Its list of property not covered includes existing buildings or structures to which improvements, alterations, repairs or additions are being made, and contractor's equipment and tools. Ask who insures the existing structure on a remodel and what covers your equipment.6
The cost of fixing your own work and some weather and theft losses are outside the form. The specimen excludes faulty or defective workmanship, design and materials but pays for loss that a covered cause of loss then produces. It also excludes rain that enters before the exterior is complete, delay and consequential loss, and theft from an unattended vehicle unless it was locked and there are visible signs of forced entry. Sonoma County's guide describes the same split: the cost of making good defective work is excluded, damage resulting from it is covered.6,9
You may carry the deductible. Virginia's general conditions let the owner include a deductible in the supplemental conditions, in which case the contractor is liable for it whenever a claim arises, and New York's contract makes the contractor liable for the applicable deductible on losses covered by the State's policy. Read the deductible clause before you bid.4,5
What Should Contractors Check Before Buying Builders Risk Insurance?
Get the deductible and its basis in writing. One program's tip sheet says a percent deductible is calculated on total completed value under one of its coverage forms and on the values at risk at the time of the loss under another, so the same percentage produces different amounts. Ask which basis applies and compare it with what the contract makes you pay.7
Describe the project as it stands. One insurer's submission list asks for a project description, statement of values, locations and limits. One program says projects over 30 percent complete at submission need more underwriting review, and that modifying an existing structure, including adding to it, counts as remodeling. Tell the broker what is already built.7,8
Ask what pays if the job is late. The specimen excludes delay, and its contractual penalties cover applies only if the first named insured is the general contractor, only for penalties resulting from physical loss that delays completion, up to a default limit of $10,000 unless the declarations show another. One insurer says its form offers delay in opening cover, with soft costs in the submission, and contract penalty cover after a covered physical loss.6,8
Ask for the actual form. Sonoma County's guide says ISO publishes a builders risk form but its coverage is limited and seldom used, that most insurers write their own forms, and that coverage differs between insurers. A specimen tells you what to ask, not what your policy says.9
What Do Contractors Ask About Builders Risk Insurance?
Who Buys Builders Risk Insurance: Contractors or Owners?
It depends on the contract. AIA says usually the owner, but the parties may agree the contractor buys it; Washington's and Texas's state contracts require the contractor to buy, and New York's provides the policy. Read the insurance article of each contract.1,2,3,4
Does Builders Risk Cover Contractors' Tools and Equipment?
Not in ISO's specimen form, which lists contractor's equipment and tools among property not covered. Ask about a contractors equipment policy, a type of inland marine cover.6
Does Builders Risk Cover Contractors for Faulty Workmanship?
Partly. The specimen excludes faulty or defective workmanship itself but pays for loss that a covered cause of loss then produces. Ask how your quote treats rework and resulting damage.6,9
What Happens When Contractors' Projects Run Past the Builders Risk Term?
Coverage can lapse unless the policy is renewed or extended. The specimen ends coverage when the policy expires, and one program's tip sheet says renewals are not automatic and may need more underwriting review. Ask your broker about extensions well before expiry.6,7
Sources for Builders Risk Insurance for Contractors
Sources for the Segment Guidance
- Builder's Risk Insurance in Construction: What You Need to Know. AIA Contract Documents; Builder's Risk Insurance (article dated 2022-11-03). Accessed 2026-10-01.
- General Conditions for Washington State Facility Construction (Section 00 72 00, effective June 11, 2020). State of Washington, hosted by Central Washington University; Insurance and Bonds: Builder's Risk, A and C. Accessed 2026-10-01.
- 2015 Uniform General Conditions (file dated 03.07.2017). Texas Facilities Commission; Section 5.2.6.1.5. Accessed 2026-10-01.
- General Conditions (Section 007213). New York State Office of General Services; Article 19, paragraphs 19.2.4, 19.2.4.1 and 19.2.4.2. Accessed 2026-10-01.
- General Conditions of the Construction Contract (DGS-30-054 CO-7, 02/22). Virginia Department of General Services; Section 12 All-Risk Builder's Risk Insurance to Include an Installation Floater. Accessed 2026-10-01.
- Builders Risk Coverage Form IH 00 70 05 17 (specimen). ISO, specimen hosted by a broker; A.1.c Coverage ends; A.2 Property Not Covered; A.5.c Contractual Penalties; B.2.a, B.2.b, B.2.k; B.3.c. Accessed 2026-10-01.
- Builders Risk Application Tip Sheet (policies insured by Zurich American Insurance Company). US Assure; General policy application tips 3, 4 and 8; Remodeling policy application tips. Accessed 2026-10-01.
- Builders' Risk Insurance. Chubb; Coverage; Submission requirements (insurer's statements about its own program). Accessed 2026-10-01.
- Builders Risk (Contract Insurance Requirements Reference Guide). County of Sonoma, Liability & Insurance Division; Commercial Builders Risk Coverage Available to Contractors; County's coverage exclusions. Accessed 2026-10-01.
Sources for the Ranked Providers
- Construction and Infrastructure Insurance and Risk Management. Aon. Accessed 2026-09-30.
- Builder's Risk Insurance. Coverdash. Accessed 2026-09-23.
- HUB International Launches Builder's Risk Insurance Solutions. HUB International. Accessed 2026-09-23.
- Construction & Contractor Liability Insurance. Heffernan Insurance Brokers. Accessed 2026-09-23.
- Property. Liberty Mutual Business Insurance. Accessed 2026-09-29.
- Builder’s risk. Liberty Mutual Business Insurance. Accessed 2026-09-30.
- Construction & Contractors Insurance. Harper. Accessed 2026-09-23.
- Builders Risk Insurance. Alliance Risk. Accessed 2026-09-23.