A project under construction is its own risk profile. The right builder’s risk policy reflects that.

Builders risk insurance covers structures, materials, and equipment during the construction phase — before a permanent property policy takes over. The exposure changes daily as the project progresses, and the right policy needs to anticipate the construction sequence, the value at stake, and the contract requirements between owner, GC, and subs.

Most builders risk programs aren’t underpriced. They’re under-built. Inadequate soft costs coverage, missing delay-in-completion (loss of income), too-tight reporting requirements, missing testing and operational coverage near completion, and no clarity on who is named on the policy — these are the gaps that produce uncovered losses on otherwise straightforward projects.

At Avanti Group, we run a Business Risk Diagnostic™ before we build any builders risk submission. We map your project, your contract structure, your construction schedule, and your stakeholders — and make sure the policy is built for the project, not pulled from a template.

Who We Work With

We place builders risk programs for projects across Iowa and the Midwest, including:

• Commercial new construction (office, retail, industrial)
• Multifamily and apartment construction
• Hotel and hospitality construction
• Healthcare facilities and senior living developments
• Manufacturing and warehouse construction
• Renovation and remodeling projects
• Owner-builder and contractor-controlled programs
• Owner-controlled programs (OCIPs) and contractor-controlled programs (CCIPs)

The Coverage Lines That Matter Most

A complete builders risk program covers more than the structure. The components we evaluate and place include:

• Hard Costs — the structure, materials, fixtures, and supplies on site or in transit
• Soft Costs — architect fees, financing costs, permits, and other costs that escalate during a construction delay
• Delay in Completion / Loss of Income — lost rents and continuing expenses arising from a covered delay
• Materials in Transit and Off-Site Storage — coverage for materials before they reach the job site
• Testing & Commissioning — coverage during the operational testing phase before owner occupancy
• Resulting Damage — coverage for damage caused by a defect during construction (the defect itself is excluded; the resulting damage often is not)
• Ordinance & Law — the cost of complying with current building codes after a partial loss
• Pollution & Mold — specifically scheduled given the construction-phase exposure

The Risks Most Builders Risk Programs Miss

Soft costs are routinely underestimated or excluded. A serious construction delay can produce six- and seven-figure soft cost losses — financing, design, permitting, and other carrying costs — that are often missing from a basic builders risk policy. We make sure the soft cost limit reflects realistic delay scenarios.

Delay in completion coverage is frequently missing. If a covered loss extends the construction schedule, the owner may face months of lost rents or revenue from a building that should have been generating income. This is one of the most overlooked exposures in builders risk.

Testing and operational coverage near project completion creates a gap. Most builders risk policies end at substantial completion or owner occupancy, but the testing phase — HVAC, life safety, equipment commissioning — can produce losses that fall between builders risk and the permanent property policy.

Named insured and additional insured structure is rarely scrutinized. A poorly structured policy can leave the owner, GC, or specific subs uncovered for losses they have a contractual interest in. The named insured and AI structure should match the contract documents exactly.

How to Get Started

Builders risk insurance isn’t a commodity product. The right program depends on your project, your contract structure, your construction schedule, and your contractual requirements. We need to understand your project before we can build the right program for it.

Call our office or use the button below to start a conversation. We’ll review your project, your contract documents, and your stakeholders — and let you know exactly where you stand before we ever go to market.