Builders Risk and Course of Construction Insurance

Novatae Risk Group offers a robust Builders Risk and Course of Construction Insurance program tailored to contractors, developers, and owner/builders on residential and commercial projects. Supported by top-rated markets including Zurich, Beazley, and Certain Underwriters at Lloyd’s of London, the program delivers flexible policy structures and high per-risk capacity for technically complex and large-scale builds.

Program Highlights:

• Backed by carriers rated “A” (X or higher) by A.M. Best
• Capacity up to $100MM+ per risk
• Available in most U.S. states
• Admitted and non-admitted options
• One-shot coverage and policy extensions available

Ideal Accounts and Appetite:

This program suits ground-up construction and major renovations across a broad range of classes. Appetite varies by carrier and state but commonly includes:

• Residential — single-family through multi-unit dwellings
• Commercial buildings
• Educational facilities
• Retail and office developments
• Lodging and hospitality projects
• Healthcare and recreational facilities
• Infrastructure and road construction
• Military-related projects

Example fits: you might place a client building a new healthcare clinic, or insuring a major renovation of a retail strip center where values and project complexity exceed standard carrier appetite.

Coverage Advantages:

• Optional extensions for existing buildings undergoing renovation or additions
• All protection classes (1–10) considered for dwellings (1–4 family units)
• Superior construction capacity up to $100M+
• Wood-frame capacity up to $50M+
• Optional coastal, flood, and earthquake capacity where carriers allow

Underwriting Guidelines:

Novatae’s underwriting team handles a wide range of construction types and timelines. Coverage is available for new construction, remodeling, and renovations. Standard policy terms are up to 12 months; extensions can be reviewed and endorsed as needed. Minimum premium begins at $350 plus applicable taxes and fees. Final terms depend on project size, location, construction type, and carrier appetite.

Ineligible Risks Include:

• Projects using unique or non-standard materials (e.g., large fabric or earthen structures)
• Construction started more than 60 days before policy inception
• Renovations where the existing structure’s value exceeds twice the value of the new work
• Mobile home construction
• Projects with expected terms longer than 12 months
• Buildings currently under repair for prior damage at the same location
• Insureds with recent bankruptcies or prior cancellations for underwriting/payment issues

Submission Requirements:

• Completed 125 Commercial Insurance Application
• Completed Builders Risk Application

Territories and Availability:

The program is available in most U.S. states, including: AL, AK, AZ, AR, CA, CO, CT, FL, GA, IL, KY, LA, MS, MO, NV, NJ, NM, NY, NC, PA, SC, TN, TX, UT, VA, and WV. Admitted and non-admitted placements are available depending on the state and chosen carrier.

Why Work With Novatae Risk Group?

As a Managing General Underwriter and Excess & Surplus Lines broker, Novatae Risk Group combines deep construction underwriting expertise with broad market access. We provide tailored solutions for challenging construction exposures, responsive underwriting, and placement options with financially strong carriers. That makes us a practical partner when you need flexible terms, high capacity, or coverage for technically complex builds.

Do you need a Builders Risk / Course of Construction Insurance Quote?

Send an email to [email protected] with your coverage needs or call 800-758-8113 to speak to an underwriter immediately.