Builders Risk Insurance From a Massachusetts Based Insurance Specialist

Coonan Insurance Agency, Inc. can help you find affordable, quality Builders Risk Insurance with ease!

We offer Builders Risk Insurance coverage in Massachusetts, Maine, New Hampshire, Rhode Island, Maine, New York and Florida.

Please ask one of our agents how we can provide you with insurance across multiple states.

What is builders risk insurance?

Working in construction comes with all manner of challenges, and even the best contractors can’t foretell the worst disasters. Massachusetts contractors might be held financially liable if a disaster causes major delay in work, which is why those working on large projects should consider builders risk insurance.

Builders risk insurance gives specialized protections for construction projects in progress. Policies may provide compensation if a project is delayed or canceled due to a covered event.

Which Massachusetts contractors need to have builders risk coverage?

Builders risk coverage is broadly recommended for large-scale construction projects. Most Massachusetts contractors working on commercial or government projects ought to have this insurance. 

The liability costs that follow a major delay on these projects can be expensive, and many larger projects require that the hired contractors get a builders risk policy.

Quotes Available in MA, RI, CT, NH, ME, NY and FL

Builders Risk Insurance Massachusetts

What does builder risk coverage protect on a construction site?

The protections that builders risk coverage provides are usually restricted to a construction site. At a site, coverage might extend to a variety of items:

  • Large equipment, small equipment, and specialized equipment
  • Specialized tools and common tools
  • Building supplies and materials
  • Completed structures and in-progress structures


Exactly what’s protected can vary, and it’s fairly common for policies to provide different protections for structures at the site. Some policies may only cover completed structures, some may only cover in-progress structures, and some may cover both. Additionally, policies might require that structures be specifically listed to be covered.
An insurance agent who specializes in builders risk can help make sure all of the structures at a construction site are properly protected by the chosen policy.

Builders Risk Insurance Massachusetts

Which perils does builders risk coverage protect against?

Builders risk policies normally cover perils like fire, smoke, theft, vandalism, and certain weather events. They may also include certain types of water damage, and other specified perils. 

A knowledgeable agent can review the specific protections that a chosen policy has.


What projects can builders risk be purchased for?

Builders risk is primarily purchased for larger construction projects. 

Policies might cover the construction of office buildings, retail shopping centers, industrial complexes, government buildings, public infrastructure, specific-use buildings, residential developments, and apartment buildings, for example. Occasionally a policy may be purchased for a major landscaping project.

Builders Risk Insurance Massachusetts

Is builders risk purchased when building single-family homes?

Contractors working on residential developments certainly may want a builders risk policy. These are major projects that can result in major costs if there’s a long delay.

Can contractors extend a builders risk policy in the event of a construction delay?

Many builders risk policies can be extended once if there’s a delay that extends work beyond the expected timeframe. Fewer policies offer multiple extensions, so contractors should be prepared to get a new policy if work goes beyond a one-time extension. Select policies might not have an option for even one extension.

Contractors should discuss their possible need for an extension with an experienced insurance agent, who can then see which policies would best suit a contractor’s situation.

How much do contractors pay for builders risk policies?

How much contractors pay for their builders risk policy depends on many factors. The scope of a project, type of construction, expected timeline, equipment used, and contractor’s track record all can impact premiums.

To get accurate quotes for a particular project, contractors can work with an independent agent. Independent insurance agents are able to request custom quotes from several insurance companies, and can do so quickly.

Coonan Insurance Agency

Where can contractors working in Massachusetts find builders risk insurance?

For help insuring a construction project that’s in Massachusetts, contact the independent insurance agents at Coonan Insurance Agency. Our agents will help you find builders risk insurance that’ll provide the protections your construction project needs. Of course, we can help with any other contractors insurance coverages you might need as well.

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