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What does Builder’s Risk cover that Inland Marine Insurance doesn’t? This is a common question for many businesses. Especially due to the cost of premiums. As a contractor you take adequate measures to protect your business from loss. Some policies provide overlapping covers. However, opting for one may expose you to unforeseen risks.

In this article let’s look at the benefits of both policies and why you need them.

Inland Marine Insurance

Inland Marine covers loss, damage or theft of tools, technical equipment and electronics transported overland.  The policy pays for the repair or replacement of any business property lost due to any perils listed in your policy. The perils can include.

  • Theft
  • Fire
  • Hail
  • Water damage
  • Wind

Additional policies also cover mysterious disappearance and accidental drop and damage. Inland Marine Insurance offers cover for:


  • Construction equipment 


Moving materials and equipment to and from different sites can cause anxiety. Any loss or damage will have a negative impact on your expenses.

For example, if a truck ferrying your cement mixer is involved in an accident and the mixer is destroyed. Further, you are covered by your Inland Marine Insurance.


  • Business property


This could include pre-built structures, installation materials, electronic devices and event structures

For instance, your company makes and transports pre-built sheds to customers. During transit a shed falls down a bridge and gets destroyed. The loss will be covered by your Inland Marine Insurance.


  • Technology equipment


This covers businesses that deal with installations, research and development and renewable energy equipment.

For example, if Solar panels fall off a truck into a river and are destroyed. Replacement is covered for by your policy.


  • Personal and individual property


This includes valuable personal items such as jewelry, art pieces, money or home electronics.

For instance, you need to transport art exhibits all over the state and constantly need to move valuable pieces by vehicle. Insuring art will prevent any financial loss if they are stolen during transit.

What does Builder’s Risk cover?

Builder’s Risk covers risks associated with new building structures, including the tools and products necessary for work. A basic policy will cover loss or damage resulting from:

  • Fire
  • Vandalism
  • Hail
  • Hurricanes
  • Lightning
  • Theft

Additional cover includes:


  • Debris removal and contamination clean up


Construction accidents are messy. Additional equipment and labor is needed to clear debris and any resulting contamination.

For example, a roof may cave in overnight. As a result, your Builder’s Risk will cover the cost of cleaning up.


  • Changes in building ordinance or Law


If building codes change in the middle of a long-term construction project, your Builder’s Risk will reimburse part of the profits lost.

For instance, a law is passed stating that building projects in your area should have only three stories. Sadly, your project has surpassed this limit.


  • Offsite storage and transportation


A contractor may need to transport equipment and materials from storage to the construction site. Furthermore, insurance will cover loss or damage during transit.

For example, a truck ferrying building material such as tiles and cement are stolen. Consequently, your Builder’s Risk has you covered.


  • Property replacement 


What does Builder’s Risk cover that Inland Marine Insurance doesn’t? It provides replacement of damaged property or equipment stored on site.

In this situation, your Builder’s Risk Insurance will replace any lost tools following a successful claim.


Call today for your quick quote

If you still have questions or want to get that quick quote, call our expert team now. To get in touch with Contractors Liability call 888-676-0923.

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