Builders risk insurance is always a good idea when having any building or other project built, renovated, or repaired. This helps to recoup losses that might be incurred, including theft, fire, and damage. The choices are nearly endless when it comes to optional coverage’s, and includes such things as earthquakes and floods. Other forms of optional, or “soft coverages” include legal and marketing expenses, expenses related to delays, and additional interests expenses.
When purchasing builders risk insurance coverage the first place you should check is with your local insurance agent. Often times builders risk insurance will be discounted if you have other policies, such as home or auto, with the insurance company.