Commercial Insurance
Builder's Risk Insurance in Colorado Springs, CO
Builder's risk is course-of-construction property insurance. It covers the structure while it is being built, along with materials on site, in transit, and in temporary storage — the window when a project carries real value but no permanent property policy.
Across El Paso County, the two losses that show up most on active jobs are theft of materials and weather damage before the building is dried in. Both are why lenders and owners require this policy in writing before the first draw.
What it covers
- The structure under construction, up to the completed value
- Materials on site, in transit, and at temporary storage locations
- Fire, wind, hail, theft, and vandalism during construction
- Optional soft costs and delay in completion after a covered loss
- Debris removal and, on some forms, ordinance or law exposures
What it typically doesn't
- Faulty workmanship or design in the work itself on most forms
- Liability for injury to others — that stays with general liability
- Tools and contractor equipment, which belong on inland marine
- Earthquake and flood unless specifically endorsed
- Losses after the project is completed and occupied
Who in Colorado Springs usually needs it
General contractors, builders, remodelers, and property owners undertaking ground-up construction, additions, or tenant improvements in Colorado Springs.
Structure
How limits and deductibles get set
Nothing here is a quote or a promise of coverage — every program depends on the carrier, the form issued, and your operation. These are the decisions that usually matter most.
Insure to completed value
The limit should equal the total completed value of the project, including materials and labor, not just the current stage of construction.
Match the term to the schedule
Policies are written for a fixed term. Front Range projects slip; extensions need to be requested before expiration, not after.
Decide who buys it
The contract normally states whether the owner or the contractor carries builder's risk, and who is named. Duplicate or missing coverage both come from skipping that clause.
Common questions
- Who should be named on the policy?
- Typically the owner, the general contractor, and the lender, with subcontractors' interests addressed as the contract requires. Follow the construction agreement's insurance section.
- Does it cover materials stolen from the site?
- Theft of materials is commonly covered on builder's risk forms, subject to the deductible and any protective safeguards the policy requires. Confirm the specific form before relying on it.
- When does coverage end?
- Usually at the earliest of project completion, occupancy, or policy expiration. A permanent property policy needs to be in place at that handoff.
This page is general information only and is not legal, tax, or coverage advice. Actual coverage is governed by the terms, conditions, limits, and exclusions of the policy as issued.
Next step
Get a builder's risk quote in Colorado Springs
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