Builders Risk Policy Feature Checklist
What to confirm in a builders risk policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current builders risk policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Completed Value (Hard Costs) | Confirm the limit reflects the full completed value, including labor and materials. | Standard | |
| Water Damage | The most frequent builders risk loss — often subject to a higher deductible or sublimit. | Often limited | |
| Theft of Unattached Materials | Covers materials stolen before installation — confirm it isn't excluded. | Often limited | |
| Soft Costs & Delay in Completion | Covers added interest, fees, and lost rents when a loss delays the project. | Often limited | |
| Existing Structure | For renovations — confirm the existing building is covered, not just the new work. | If needed | |
| Flood, Earthquake & Named Storm | Often excluded or subject to large deductibles — add if the site is exposed. | If needed | |
| Transit & Off-Site Storage | Covers materials on the way to the site or stored elsewhere. | If needed | |
| Permission to Occupy | Confirms coverage continues if part of the building is occupied before completion. | If needed |
The gap most often missed in this coverage
The most commonly missed gap in this coverage is water damage. It is the most frequent builders risk loss, and many policies now carry a higher water deductible or sublimit — while fire in wood-frame projects produces the largest claims. Owners and contractors should confirm the water deductible, keep a written water and fire plan, and verify theft of unattached materials is covered.
Send us the checklist and we'll review your builders risk coverage line by line, then market it across multiple carriers that compete for your account.
Related: Builders Risk Insurance · Builders Risk Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a builders risk policy include?
Standard features to confirm in a builders risk policy include Completed Value (Hard Costs). This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my builders risk coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.