Can You Get Builders Risk for an Existing Building or Renovation?
Find out whether your renovation quote covers the structure you already own as well as the work in progress.
Sometimes. Builders risk can cover renovation work, but existing-building protection depends on the policy: the cited specimen excludes the structure being improved, while the California guide describes coverage for some existing structures under renovation. Tell the broker what will be altered and ask the quote to list separate limits for the building and the new work.
US Assure’s tip sheet distinguishes new construction from remodeling and says its reporting form does not cover the existing structure; it directs applicants needing that protection to a different policy option. This is guidance for that program, so do not apply its eligibility rules to every market.
Tell the broker whether the project changes structural components, whether occupants remain, what part of the existing building is exposed, and whether demolition or additions are involved. Ask the quote to state limits for the existing structure and new work separately, plus any vacancy, inactivity, security, or protection conditions.
Related Coverage
Sources
- Commercial Insurance Guide. California Department of Insurance; Form 700, revised June 14, 2024: Commercial Property > Coverage Forms and Endorsements > Builder’s Risk; Inland Marine; How Can I Purchase Commercial Insurance?; What Should I Expect from a Broker-Agent? Accessed 2026-09-25.
- Builders Risk Coverage Form. Insurance Services Office, Inc.; hosted by Touchpoint Markets; IH 00 70 05 17, copyright 2017 (illustrative specimen): A.1–3, printed pp. 1–2; B, printed pp. 9–11; C–E, printed p. 12. Accessed 2026-09-25.
- Builders Risk Application Tip Sheet. US Assure; General policy application tips, p. 1; Remodeling policy application tips, p. 2. Accessed 2026-09-25.
