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What is Builders Risk Insurance Policy?

 


Builders Risk Insurance is a specialized property insurance policy designed to protect buildings, structures, materials, and equipment during construction or renovation phases. It safeguards against unexpected events like fire, theft, storms, or vandalism that could otherwise lead to major financial setbacks for project stakeholders.​

Why It's Essential

Construction projects face unique vulnerabilities, from natural disasters to on-site accidents, making this coverage a critical safety net for owners, contractors, and developers. In regions like Sydney, where unpredictable weather and rapid development amplify risks, policies like this ensure projects stay on track and within budget.



Key Coverages

Typical Builders Risk policies protect against:

  • Damage to the structure from fire, floods, earthquakes, or windstorms.

  • Theft or loss of materials, machinery, and temporary fixtures.

  • Third-party liability for property damage or injuries tied to construction activities.

At Auswide Insurance Brokers, we tailor these policies to fit your project's scale, offering comprehensive options that include add-ons like debris removal or income loss from delays.

Common Exclusions

Policies often exclude workers' compensation (covered separately), faulty workmanship, wear and tear, or damages from war/terrorism unless added. Reviewing terms with an expert ensures no gaps in protection.



How to Get Covered with FLI Group

Start by assessing your project's risks, value, and timeline, then contact Auswide Insurance Brokers for a customized quote. Our experienced team handles everything from policy selection to claims, keeping your build secure from groundbreaking to completion.

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