Builder's risk insurance
The cost of builder’s risk insurance is based on the total completed value of your structure, including the cost of all materials and labor, but excluding land value.
Builder’s risk insurance covers the costs of repairing an unfinished structure or replacing building materials when weather, fire, vandalism, or theft hits a construction site.
Builder’s risk insurance can pay for damage done to a structure still under construction. It can cover costs resulting from fire, vandalism, weather, or on-site tool or equipment theft.