Describe the project
Tell us what you’re building, whether it’s new construction or a renovation, and who owns it. Your Spot team asks who is buying the policy under the contract.
Alder BuildersOrganized by Spot
Builders Risk Insurance Quotes
Get builders risk insurance quotes with Spot
Walk your Spot team through the project, its materials and who is responsible for it, and we prepare the submission brokers use to quote builders risk.
Get quotes from 20+ builders risk insurance providers
- Project, materials and schedule described once
- New work and existing structure kept apart in the quote
- Keep your broker or switch, with no commissions on premiums
How it works
Add values and materials
We list the completed project value, where materials are stored and shipped from and which items are your contractor’s tools.
Builders risk insurance
Alder Builders · Policy review
- Policy wording
- Coverage limits
- Compare with
- Contract requirements
Confirm with your broker
Limits, exclusions, and endorsements
Brokers take it to market
We work with brokers to request builders risk proposals, and follow up on underwriters’ questions about the build.
# spot-support
MorganAlder Builders
What do we need to request builders risk insurance quotes?
RileySpot
Let’s prepare the information for your broker and compare the terms, not just the price.
Compare what is protected
See whether each quote includes storage and transit, the existing building in a renovation and early occupancy.
Insurance documents
Quote requestBuilders risk insurance
Coverage limits · Policy terms
Alder Builders
What you’ll need
- 01
Project description
New construction or added work, and the phases and project areas to include.
- 02
Completed value and changes
What the project will be worth when finished, and how changes will be reported.
- 03
Existing structure in a renovation
The older building, described separately from the new work.
- 04
Materials and fixtures
Items intended for the building, with where they are stored and how they are shipped.
- 05
Contractor tools
Whether they’re included or need separate coverage.
- 06
Who buys the policy
Who the contract makes responsible, agreed with the owner and contractor so the project isn’t insured twice or not at all.
- 07
Schedule and occupancy plans
Expected completion and any phased opening, since occupancy can affect when builders risk ends.
What affects your price
- 01
Project value
A larger or more costly build means more to insure.
- 02
Type of construction
New construction and renovation are rated differently.
- 03
Length of the build
A longer schedule means a longer exposure period.
- 04
Materials in storage and transit
Items stored off site or moved to the site add exposure.
- 05
Deductibles and limits
A higher deductible lowers the premium and higher limits raise it.
Providers your broker can approach
Get quotes from 20+ builders risk insurance providers.
- AIG
- Alliance Risk
- Aon
- Berkshire Hathaway Specialty Insurance
- Chubb
- CNA
- Coverdash
- And many more
Common questions
Does builders risk cover the existing building in a renovation?
Not always. A sample form we reviewed excludes it, so we keep new work and the existing structure separate when we compare quotes.
Are materials stored off site covered?
Only if storage and transport are included. We check that on each proposal.
What if we open before construction ends?
Occupancy can end builders risk. Tell your Spot team about the phased opening so construction and finished-building coverage can be coordinated.
Who buys the policy, the owner or the contractor?
Your contract decides, so agree it first. Spot works with the broker on the project and takes no commissions on premiums.
Related
Get insurance off your to-do list.
Walk your Spot team through the project, its materials and who is responsible for it, and we prepare the submission brokers use to quote builders risk.
Get StartedLearn more before you get quotes
Read these before you choose a policy or an insurer.
