Does Builders Risk Cover Renovations?

California DOI identifies additions, alterations, and repairs to an existing structure as uses for builders risk. Oregon’s model clauses also refer to substantial alterations and remodeling. These are general descriptions; they do not override the specific policy schedule or exclusions. Describe the work, total value, existing structure, occupancy, and portions left in use. Check whether demolition, temporary relocation of property, phased work, and completed areas are covered, and whether the existing building needs its own limit. Review exclusions for faulty construction and damage to the part being worked on. The current owner’s property policy and the builders risk policy may address different interests or parts of the building during renovation. Notify the incumbent insurer and coordinate written terms before demolition or alteration starts. Ask whether the old structure is scheduled at full value, whether new work is insured as it accumulates, how occupied areas are treated, and how coverage transfers after completion.