In the often volatile world of construction risk, one program category continues to generate high search interest on ProgramBusiness — and for good reason. Among insurance professionals, the phrase “top-rated builders risk insurance coverage” is becoming almost shorthand for “where the demand is.” This article kicks off a five-part series exploring October’s most-searched program categories on ProgramBusiness, starting with builders risk insurance — the foundation of many successful commercial projects.
Anchored by ProgramBusiness’s robust marketplace, we’re seeing brokers, managing general agents (MGAs), and carriers increasingly seeking builders risk solutions to fuel growth and differentiate offerings. For those exploring the leading programs, here’s why builders risk is trending now — and which programs deserve a closer look.
What Is Builders Risk Insurance? An Overview
Builders risk insurance — also known as “course of construction” coverage — is a specialized form of property insurance that protects a building (and related materials) during construction or renovation. Unlike traditional property policies that assume a “finished state,” a builders risk insurance policy is inherently temporary and tailored to the evolving nature of a project.
Those most likely to need this coverage include contractors, developers, project owners, and sometimes lenders. A typical commercial builders risk insurance plan covers onsite materials, temporary structures, scaffolding, and potentially materials in transit. The dynamic nature of construction means exposures shift daily. Good builders risk insurance programs account for that, with flexible limits and extension options.
Where builders risk differs from standard property insurance is in underwriting discipline and timing. Carriers are underwriting a “moving target,” often breaking down exposures by phase, jobsite location, project type (ground-up, renovation, retrofit), and exclusion sensitivities.
What To Look For in Builders Risk Insurance Companies
Finding the right partner is more than picking a name off a list. When evaluating builders risk insurance companies, keep in mind:
- Underwriting flexibility: Can the program tailor coverage to unusual designs or hybrid structures?
- Eligibility scope: Do they accept ground-up, renovation, vertical expansion, or interim repair projects?
- Duration and extension options: Construction delays are the rule, not the exception; policy end-dates and extensions matter.
- Value-added features: Some programs offer built-in business interruption coverage, supply chain protection, or soft-cost extensions.
- Regional or coastal appetite: Projects in high-risk zones (e.g., hurricane or wind areas) often need specialized approaches.
- Program administration strength: A well-run builders risk insurance program should streamline quoting, endorsements, and claims processing for busy brokers.
ProgramBusiness is a discovery hub for various programs, helping agents and MGAs compare builders risk insurance carriers based on appetite, terms, and service reputation.
4 Top Builders Risk Insurance Companies To Consider
Below are standout builders risk programs currently listed on ProgramBusiness, in alphabetical order. (All links below are to ProgramBusiness listings for your convenience.) These four are not exhaustive, but they reflect the diversity of approaches in the builders’ risk marketplace today. Watch for more listings on our platform as more companies add storefronts to ProgramBusiness.
1. Amwins Underwriting
Amwins Special Risk Underwriters (SRU), part of Amwins Underwriting, offers CAT-exposed property capacity available exclusively through Amwins brokers, along with supplemental products such as builder’s risk, earthquake, wind, and AOP deductible buybacks. In today’s selective property market, SRU has secured additional capacity with A- or better carrier partners as its exclusive wholesale MGU for national property programs — delivering valuable options for agents and insureds in a tightening market.
Program listing: Amwins Underwriting — Property
2. IGP Specialty
Builders face significant risks from fire, weather damage, theft, and equipment breakdown throughout construction. The Safehold Builder’s Risk Program, available through IGP Specialty, helps protect builders and developers from financial losses on residential, commercial, hospitality, and institutional projects — from groundbreaking through certificate of occupancy.
In coastal regions, IGP also offers a Wind Deductible Buy-Back program that provides an extra layer of protection where high deductibles have become common. The coverage can apply to both commercial and residential projects under construction, typically for 12-month terms (up to 18 months for builders risk). Soft costs are excluded from this coverage, which can be written with or without an annual aggregate limit for general or named windstorm events.
Program listings:
3. RPS Signature Programs: AU Gold
The AU Gold program from RPS Signature Programs focuses on insurance for vacant and unoccupied builders renovation and course-of-construction projects. It’s designed for agents seeking flexible solutions and straightforward underwriting. RPS emphasizes common-sense underwriting and a user-friendly experience, helping agents place challenging renovation and builders risk accounts efficiently.
Program listing: RPS Signature Programs – AU Gold
4. Victor Insurance Managers Inc.
Victor’s builders risk solution, offered through its V² platform, allows agents and brokers to quote, bind, and issue policies in minutes. The program is available nationwide (excluding Alaska and Hawaii) and is backed by an A++-rated admitted carrier. Minimum premiums start at $400, with limits up to $8 million for frame and joisted masonry construction and $15 million for non-combustible, masonry non-combustible, and fire-resistive construction.
Target markets include residential and commercial construction, remodeling, and installation floaters. Coverage highlights include protection for collapse, scaffolding and temporary structures, debris removal, pollutant cleanup, ordinance or law (direct damage), valuable papers and records, expediting expense, and limited coverage for fungi, wet rot, and dry rot. Green building recertification, contract penalties, and claim preparation expenses are also available.
Program listing: Victor Insurance Managers Builders Risk
Market Trends Driving Demand in 2025
What’s contributing to growing interest in builders risk programs? Here are a few factors.
- Rate softening and capacity growth: The first half of 2025 saw rate moderation as underwriters compete for quality risk.
- Selective appetite among carriers: Even as rates soften, carriers are becoming more discerning, increasingly focusing on Class A risks and avoiding marginal exposures.
- Expanding market size: The U.S. builders risk market is growing rapidly, valued at roughly USD $5.36 billion in 2024 and projected to reach USD $8.75 billion by 2033.
- Tech, data, and analytics: To manage exposures and improve underwriting, programs are integrating tools like drone-based inspections and risk scoring driven by artificial intelligence (AI).
- Market pressure from construction trends: Supply-chain disruptions, labor shortages, and rising costs can mean increased premiums; however, insurers are also focusing on risk management and customized insurance solutions to address specific risks across commercial, residential, and infrastructure projects.
Given these dynamics, we can expect continued interest in builders risk insurance quotes and programs that offer flexibility, value-adds, and speed.
Searching for Builders Risk Solutions?
Builders risk remains one of the most searched and actively purchased program types in 2025. Agents, MGAs, and carriers are all seeking access to top-rated builders risk insurance coverage that combines appetite flexibility, value-added innovation, and underwriting speed. The four programs listed above illustrate different strategies — some niche, some broad — but each worthy of closer review through the lens of your client base.
To boost the discoverability of your particular program, consider listing it on ProgramBusiness. In the next installment, we’ll turn our attention to auto dealer programs, another high-traffic segment seeing renewed momentum in 2025 — followed by habitational, transportation, and product recall.
FAQ About Builders Risk Insurance Programs
What is a builders risk insurance program?
A builders risk insurance program is a packaged, often niche, underwriting platform built by MGAs or carriers to serve contractors and developers. It encompasses quoting, underwriting, claims, and often marketing support aimed specifically at builders risk exposures.
What is the average cost of builders risk insurance?
Across the industry, premiums often fall between 1% and 5% of the total construction cost. Factors such as location, timeline, construction site size, materials, and more can impact the cost of a builders risk insurance policy.
When to buy builder risk insurance?
Coverage should begin before the first material is delivered or the first structural work is started, ideally tied to the contract start date. The policy typically terminates when building occupancy or stabilization is achieved.
Who usually pays for builders risk insurance?
It depends on contract terms. Sometimes the project owner purchases the policy, and other times, the general contractor does. All major stakeholders (owner, contractor, lender) can be listed as insureds.
What does builders risk insurance not cover?
Common exclusions include floods (unless endorsed), earthquakes, wear-and-tear, faulty workmanship, and design defects. Always review the policy form — some carriers offer enhancements for these gaps.
About ProgramBusiness
ProgramBusiness is a leading insuretech marketplace connecting agents, brokers, MGAs, and carriers. We enable insurance professionals to list their programs, receive verified feedback from users, and be discovered by buyers across the industry.
Larry Neilson
With 35 years in the Property/Casualty insurance industry under his belt, Larry has helped insurance agents, carriers, MGAs/MGUs, wholesalers, program administrators, and vendors capitalize on the latest in sales and marketing, data development, Internet marketing, SEO, email marketing, and social media distribution.