Virtus helps owners, developers, and contractors evaluate Builder's Risk coverage against the scope of work, contractual responsibilities, and financial exposure if a covered loss occurs.
We review the scope of work, construction budget, schedule, and contractual insurance requirements to help establish who arranges coverage, whose interests need to be included, and how the policy should be structured.
Builder's Risk generally addresses physical loss or damage to covered property during construction. We help evaluate the property and activities involved, including materials and equipment intended for the project, off-site storage, and transit. Coverage depends on the policy's terms, limits, and exclusions.
Repairing damaged property may be only part of the financial impact. A covered loss can also push back completion. We help evaluate soft costs and delay-related coverage, including potential rental or business income exposures where appropriate. These protections are not automatic; the covered triggers, waiting periods, limits, and definitions need to fit the project.
Changes in scope, values, or timing can create new insurance decisions. We help review those changes and plan for completion and occupancy, including when Builder's Risk coverage ends and permanent property coverage should begin. We also help coordinate the response if a claim needs attention.
What we recommend
We explain the proposed coverage structure, contractual requirements, and tradeoffs, including questions to resolve before work starts or the project changes.
Explore examples of how this coverage supports different industries. These links are not a complete list of the businesses we serve.
Related capabilities
Share the project scope, budget, schedule, and contractual insurance requirements with our Construction team.
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