Builders Risk Insurance and Commercial Insurance in Oklahoma City, Midwest City, Moore, Norman, Shawnee, OK and Surrounding Areas

Protect What You’re Building

Builder’s Risk Insurance from Ford Insurance Agency

Everyone understands the need to insure their homes and businesses against unforeseen occurrences. But what happens when the house or business that’s under construction is damaged? Builder’s Risk Insurance (a.k.a. construction insurance) protects buildings during the construction process. BRI can cover just the structure and can also include coverage for materials as yet to be installed or that are in transit to the construction site.

Builder’s Risk Insurance pays for damages up to the policy coverage limit. This limit reflects the value of the completed structure based on all materials and labor costs, minus the value of the land. Construction budgets are the most accurate source for garnering appropriate insurance limits. Builder’s Risk Insurance policies are usually written in 3, 6, or 12-month terms. In the event that the project isn’t completed during the originally established policy term, it can often be extended, but generally only once.

In addition to protecting buildings and structures under construction, Builder’s Risk Insurance also offers coverage for:

  • Materials
  • Supplies
  • Tools, Machine and Equipment
  • Equipment on-site, in transit, or at other locations

Who Needs Builder’s Risk Insurance?

If you have a financial interest in the building being constructed, you need Builder’s Risk Insurance. Individuals most often included on a builder’s risk policy as insureds include:

  • Property Owners
  • General Contractors
  • Subcontractors
  • Lenders
  • Architects
  • Contractors and Builders

In addition to builder’s risk insurance, we offer a range of other commercial insurance services as well.

Additional Builders Risk Insurance Coverage

Builder’s Risk Insurance protects construction projects from a wide variety of property damage, but it also offers additional coverage for what is commonly known as soft costs. Soft costs are expenses that aren’t directly construction-related. They are incurred when property damage causes a delay. This can include:

  • Lost sales
  • Rental income
  • Additional interest on loans
  • Real estate taxes

Because construction projects can vary greatly, Builder’s Risk Insurance policies are also individually unique. These policies can be customized for your specific project through coverage extensions, which can provide protection for:

  • Scaffolding
  • Construction forms
  • Temporary structures
  • Debris removal and disposal should a loss occur
  • Contaminant/pollution cleanup

As an Independent Insurance Agency, Ford Insurance Agency can work with our network of providers to find the most appropriate coverage for your particular needs…at a premium that you’ll appreciate.

Your Ford Insurance Agency representative can help design a Builder’s Risk Insurance policy to meet your specific needs


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