Builders Risk Insurance costs, by state and province

Typical costs for builders risk insurance per project. Project value and duration influence premium. Open a market below for a local estimate.

Builders risk insurance covers property under construction, with premiums typically ranging from 1% to 4% of the total construction value. For a $200,000 project, that means $2,000 to $8,000 per year. Policies are short-term, usually 6 to 12 months, and can be extended at an additional cost.

How Construction Value Affects Premium

The premium is calculated as a percentage of the completed construction value, with rates of 1% to 4% common. A $500,000 home addition might cost $5,000 to $20,000 for a one-year policy. Higher-risk projects, such as those with wood framing or in wildfire zones, may see rates at the upper end.

Policy Duration and Extensions

Most policies are written for 6 to 12 months, with a typical cost of $1,000 to $5,000 for a mid-sized project. Extensions for delays cost an additional 10% to 25% of the original premium per month. Some insurers offer a flat monthly rate of $200 to $500 for extensions.

Deductibles and Coverage Limits

Deductibles for builders risk insurance usually range from $500 to $5,000, with higher deductibles lowering the premium. Coverage limits should equal the full replacement cost of the structure, and undervaluing can lead to coinsurance penalties. Additional coverage for theft or vandalism may add $100 to $300.

Typical Builders Risk Insurance prices
ItemTypical range
Premium as % of construction value1% - 4%
Typical annual premium for $200k project$2,000 - $8,000
Policy deductible$500 - $5,000
Monthly extension cost$200 - $500

Every market for builders risk insurance costs

383 markets have a page, each with a typical range where we have one and plain guidance on what moves the price.

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