Builders Risk Insurance
CONSTRUCTION COVERAGE — GREENVILLE & UPSTATE, SC
Builders Risk Insurance for
South Carolina Construction Projects
A construction site is one of the most exposed locations in business — open to weather, theft, fire, vandalism, and accidents every day until the project is complete. Builders risk insurance in South Carolina protects the structure, materials, and equipment on your job site from the first day of ground-breaking to the day the certificate of occupancy is issued.
✔ New Construction
✔ Renovations & Additions
✔ Residential & Commercial
✔ Materials & Equipment
1 in 5
Construction projects experience a significant loss before completion
$4B+
Annual commercial construction losses across the U.S.
✔ New Construction
✔ Renovations & Additions
✔ Residential & Commercial
✔ Materials & Equipment
Builders risk insurance — also called course of construction insurance — is a specialized property insurance policy that covers a building or structure while it is under construction, renovation, or repair. It protects the insured value of the project at each stage of completion against covered perils including fire, wind, hail, lightning, theft, vandalism, and certain accidental damage. Coverage is typically structured to match the project's completed value and expires when the structure is complete and ready for occupancy.
WHEN COVERAGE APPLIES
The Builders Risk Policy Lifecycle
One of the most misunderstood aspects of builders risk insurance is exactly when coverage begins and ends. Understanding the lifecycle helps South Carolina contractors, developers, and property owners avoid dangerous coverage gaps.
Pre-Construction
Before construction begins, materials stored on-site or in transit may need separate inland marine or installation floater coverage — builders risk typically hasn't started yet.
1
Not yet covered
Ground-Breaking & Foundation
Coverage begins when construction starts. The insured value typically starts low and increases as the project progresses and materials are incorporated into the structure.
2
covered active
Active Construction Phase
The full coverage period — the structure, installed materials, temporary structures, on-site equipment, and building materials are all covered against fire, storm, theft, vandalism, and other named or open perils.
3
full covered active
Completion & Occupancy
Builders risk coverage ends when the project is complete, the certificate of occupancy is issued, or the structure is occupied — whichever comes first. A permanent commercial property policy must be in place before this point.
4
transition stage
Critical coverage gap most South Carolina builders don't know about:
Standard commercial general liability (GL) insurance does not cover damage to the structure being built — it only covers third-party bodily injury and property damage. Without a separate builders risk policy, a fire, storm, or theft that destroys weeks of work and hundreds of thousands in materials is entirely uninsured.
GL insurance and builders risk insurance are not interchangeable — you need both.
Coverage breakdown
What Does Builders Risk Insurance Cover?
A well-structured builders risk policy for South Carolina construction projects covers the structure itself and a wide range of associated property against the most common construction site losses.
WHO NEEDS BUILDERS RISK
Who Should Carry Builders Risk Insurance in South Carolina?
Any party with a financial interest in a construction project should be named on the builders risk policy. In practice, this typically includes the property owner, the general contractor, and in some cases, the construction lender. Here are the most common situations we insure across Greenville, Spartanburg, and Upstate SC.
Upstate SC is one of the fastest-growing construction markets in the Southeast.
Greenville and Spartanburg counties have seen explosive residential and commercial construction growth — bringing with it elevated exposure to theft, vandalism, and severe weather events that can set a project back weeks or months. South Carolina's severe thunderstorm season, occasional ice storms, and high material theft rates make builders risk coverage especially critical for local contractors and developers. Priority Insurance works with multiple carriers that specialize in South Carolina construction risk — and we understand the specific exposures on Upstate job sites.
Why South Carolina Contractors & Developers Choose Priority Insurance for Builders Risk
- Construction coverage specialists. Builders risk is a specialty line — not every agent understands it. We work regularly with contractors, developers, and property owners across Upstate SC and know how to structure coverage that actually works when you need it.
- Coverage matches project value. We make sure your policy is written at the correct completed value — not the contract price, not a rough estimate. Underinsured builders risk policies leave contractors personally responsible for the gap.
- Multiple carriers for complex projects. Large commercial builds, mixed-use developments, and renovation-to-occupied projects often require specialty underwriting. We have access to carriers who specialize in exactly these situations.
- Transition planning included. We help you plan the transition from builders risk to permanent commercial property insurance — so there is never a gap in coverage when the project reaches completion.
- Licensed in SC & NC. Serving Greenville, Spartanburg, Greer, Mauldin, Simpsonville, Taylors, Fountain Inn, and across the Carolinas — with carriers rated A or better by AM Best.
Common questions
Builders Risk FAQs
Who purchases the builders risk policy — the owner or the contractor?
Either party can purchase the policy, but it's typically the property owner or the general contractor — and this should be clearly defined in the construction contract before work begins. Both parties have an insurable interest in the project. Regardless of who purchases it, all parties with a financial interest should be named as additional insureds.
Does builders risk cover damage caused by the contractor's own faulty workmanship?
Generally no — builders risk policies exclude losses directly caused by faulty workmanship, design error, or defective materials. However, if faulty workmanship causes a covered peril — such as a fire resulting from improper electrical work — the resulting damage from that fire would typically be covered. This is an important nuance to discuss with your agent.
Does builders risk cover theft of materials from the job site?Yes — theft is one of the most common covered perils on a builders risk policy, and material theft is extremely prevalent on active construction sites in South Carolina. Coverage limits and deductibles for theft can vary, so it's important to review these specifically when your policy is written.
What happens to the builders risk policy when construction is complete?
Builders risk coverage automatically ends when the project is complete, the structure is occupied, or the policy term expires — whichever comes first. At that point, a permanent commercial property policy or homeowners policy must be in force. We help you plan this transition to make sure there is no coverage gap at project completion.
Can I get builders risk insurance for a renovation project, not just new construction?
Yes — builders risk policies are available for renovation, remodeling, and addition projects as well as new construction. The policy structure and coverage considerations are slightly different for occupied renovations (where the building is in use during construction), and we help you navigate those complexities for your specific project.
Get a Builders Risk Insurance Quote for Your South Carolina Project
Don't break ground without the right coverage. Priority Insurance serves contractors, developers, and property owners across Greenville, Spartanburg, Greer, Mauldin, Simpsonville, Taylors, Fountain Inn, and all of Upstate SC. We'll structure the right builders risk policy for your project from day one.