Does Builders Risk Cover Subcontractors?

Oregon’s state guidance says builders risk installation floaters can cover property installed by a contractor or subcontractor, and describes loss-payee interests. The NAIC definition focuses on the building and incidental construction property rather than every party’s business property. Make sure the declarations identify the required insureds and describe the project. Ask whether subcontractors are insureds, additional insureds, or loss payees, and for which interests. Their liability, workers compensation, and tools or equipment may need separate policies; verify contract requirements and endorsements. A subcontractor’s own general liability and workers compensation policies address different exposures from physical damage to the project, and its tools may need inland marine coverage. Compare the prime contract’s insurance clause with the builders risk declarations: confirm who is a named insured, whose property interest is insured, how loss-payee status works, and whether subcontractor work is subject to a special exclusion.