AIG vs Heffernan Insurance Brokers: How Do They Compare for Builders Risk Insurance?

AIG markets Builders Risk as a construction property insurance solution for single projects and master programs. AIG is the marketing name; the page says products are written or provided by AIG subsidiaries or affiliates and does not identify the issuing company for a particular policy. ³Company-reported. AIG’s U.S. Builders Risk product page and its general legal footer. This establishes AIG’s marketed product and issuer structure, not the insurer on an individual quote, binder or policy.

Heffernan's construction insurance brokers arrange builders risk insurance for contractors, developers and other construction-industry clients. As a broker, Heffernan places the coverage with insurance carriers rather than underwriting it itself. ⁷Company-reported. Construction page description of the builders risk offering. Does not establish a specific carrier relationship.

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The construction page does not name the insurer that would issue a builders risk policy arranged through Heffernan; the FAQ refers only to gathering quotes from 'various carriers.' ⁷Not publicly disclosed. Checked the construction page on 2026-09-23. The issuing insurer would appear on the quote and declarations.

The page describes solutions for a range of construction projects, including small, mid-sized and complex projects, and says AIG develops domestic, multinational and multi-year arrangements. It also describes customized options for wood-frame structures. These are marketed capabilities, not eligibility guarantees. ³Company-reported. Project types and program configurations stated on AIG’s U.S. Builders Risk page. The page does not provide a complete underwriting appetite or state-by-state availability schedule.

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. ⁷Company-reported. Construction page sector list and client-count claim; client count is company-reported and not independently verified.

AIG describes tailoring project coverage to construction risks and gives an example of arranging coverage for a project standstill and an extension for the expected remaining project term. These examples do not establish that any buyer is entitled to a standstill extension or that it is included in a policy. ³Company-reported. AIG’s illustrative Builders Risk marketing examples. The page directs interested buyers to the actual policy for coverage scope, limitations, terms, conditions and exclusions.

Heffernan describes builders risk insurance as coverage that protects a construction project against physical damage during the build, such as fire, theft and weather-related events, and says it customizes the coverage to the specific project. ⁷Company-reported. Construction page product description; specific insuring agreements, exclusions and endorsements are not detailed on the page.

The reviewed product page does not state a standard policy limit, deductible or retention. AIG says coverage depends on the actual policy language; confirm the applicable amounts and conditions in the quote and issued policy. ³Not publicly disclosed. AIG’s U.S. Builders Risk marketing page as reviewed on 2026-09-30. No buyer-specific quote, declarations or policy form was reviewed; this is not a finding that such terms are unavailable from AIG.

The construction page's builders risk FAQ gives only a generic industry cost range, roughly 1% to 4% of the construction budget, as educational content. It does not publish a Heffernan-specific limit, retention or premium for a builders risk policy. ⁷Not publicly disclosed. Checked the construction page's Builders Risk FAQ section on 2026-09-23. This is general market information, not a Heffernan-issued quote.

AIG says its risk engineers can work with clients on loss-prevention improvements and customized service plans, including loss-control reports. The page describes these as risk services and does not make them policy coverage or a guaranteed loss outcome. ³Company-reported. Company-described services on the U.S. Builders Risk page; availability for a particular account is not specified.

Heffernan lists a dedicated Wrap Up Solutions team alongside its construction practice leader as contacts for builders risk and related project-specific insurance programs. ⁷Company-reported. Construction page practice-leader contact block.

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Heffernan's construction page directs buyers to contact its construction insurance specialists directly, and its builders risk FAQ describes providing project details such as budget, timeline and construction type so Heffernan can gather quotes from multiple carriers. ⁷Company-reported. Construction page contact route and FAQ process description.

AIG states that, after property-damage coverage is confirmed, it promises working funds equal to 50% of its share of the agreed property-damage estimate within seven days. This is AIG’s stated claim-funding service condition; the page does not make it a general claim-payment deadline or establish policy entitlement for every loss. ³Company-reported. Conditional company statement on the Builders Risk page. It applies only as described there and remains subject to the actual policy and claim circumstances.

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