Who Buys Builders Risk Insurance?
The owner or general contractor usually buys builders risk, depending on the construction contract; the policy determines who is insured and bears the deductible.
The owner or general contractor usually buys builders risk, depending on the construction contract. Paying for the policy, owning part of the project, or performing work does not by itself make a party insured.
Compare the contract with the declarations and endorsements. Confirm the buyer, named insureds, lender interests, project value, coverage dates, and who bears deductibles; obtain any required additional-insured or loss-payee endorsement instead of relying only on a certificate.
