Inland Marine vs. Builders Risk: What’s the Difference?

The California Department of Insurance describes builders risk as coverage added for a new building under construction or an existing structure undergoing alterations or repairs. It separately lists installation floaters among inland-marine forms. These can address related project exposures, but they insure different interests or property depending on the wording.

For a project, check whether the concern is the structure under construction, materials in transit, contractors’ equipment, or property during installation. Compare the named insureds, project address, covered property, transit and storage extensions, start and completion triggers, and limits. Review the construction contract and both policies for the handoff between materials delivery, installation, and completed work.