Builder’s Risk Insurance is specifically designed to cover homes while they are under construction. During that time, buildings are subject to many different risks such as fire, high winds and other perils. Builder’s Risk insurance covers some of these losses. Covered building components include foundations, fixtures, machinery, equipment used to service the building, materials and supplies.
For homes valued over $1 million, Orchid can offer a customized policy duration of up to 36 months. If the construction takes longer than anticipated, a month-by-month endorsement can be added.
Representing more than $6 billion in written premium in the personal, commercial, specialty, professional liability and public entity segments