Builders Risk Insurance Questions: Spec Homes, Owner-Builders, Renovations and More
Who writes builders risk for spec homes, owner-builders, vacant renovations, flips and commercial projects, what it covers and costs, from licensed broker Jesus Galvan.
INSURANCE TIPS
11/11/20267 min read
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Short answer: Hard Hat Insurance writes builders risk for new construction, remodels and renovations, including projects many agents can't place, such as spec homes, owner-builders, vacant renovations, house flips, projects already under way and large commercial builds. Licensed broker Jesus Galvan places builders risk through Bearstar Insurance Services with national carriers, builders risk specialty programs and Lloyd's of London markets.
Quick facts
What we write: builders risk (course of construction) for residential and commercial new construction, remodels, renovations, additions, spec homes, owner-builder projects, vacant renovations and flips.
Markets: national admitted carriers, builders risk specialty programs and Lloyd's of London and other E&S markets for hard-to-place or high-value projects.
Who can buy: property owners, developers, investors, owner-builders and general contractors.
Where: licensed in California, Idaho, Nevada, Oregon, Texas and Washington, serving Arizona and Colorado; coverage options in other states through Bearstar Insurance Services and its partner agencies.
Languages: English and Spanish.
Contact: (949) 868-7350 · Oregon (971) 430-4717 · Washington (509) 355-9480 · info@hardhatinsurance.net · builders risk quote.
The basics
What does builders risk insurance cover?
Builders risk covers the building while it is under construction or renovation: the structure, materials and supplies on site, in transit or in storage, and temporary structures such as scaffolding and forms. Covered causes usually include fire, lightning, wind, hail, theft and vandalism. Policies can add soft costs (interest, permits and fees after a covered loss), delay in completion, debris removal and, where available, flood and earthquake.
What doesn't builders risk cover?
Common exclusions are faulty workmanship or design (resulting damage is often covered), wear and tear, employee theft, mechanical breakdown during testing, and flood or earthquake unless added. Contractors' tools and equipment are not covered; they belong on a contractor's equipment (inland marine) policy. Injuries and damage to other people's property belong on general liability. In a renovation, the existing building must be listed or it may not be covered.
Who should buy builders risk: the owner or the contractor?
Whoever the construction contract or the lender says. Many contracts make the owner responsible; on others the general contractor buys it and names the owner and lender. Either way, everyone with a financial interest (owner, general contractor, subcontractors and lender) should be listed on the policy so a claim isn't held up.
How much does builders risk insurance cost?
Builders risk is priced as a rate on the completed value of the project, and carriers have minimum premiums. The price depends on construction type (wood frame costs more than masonry or steel), location (coastal wind, wildfire and hail areas cost more), project value, term, deductible and whether an existing structure is included. Send us the address, project value and timeline and we'll quote it.
How much does builders risk insurance cost in Austin?
Example from Austin (Travis County): builders risk for a $300,000 wood-frame new home on a 12-month term starts around $1,008 plus fees, about $0.34 per $100 of completed value, with a $5,000 deductible and a 1% wind/hail deductible. The premium is fully earned. Possible coverages at this amount include debris removal ($50,000), scaffolding, construction forms and temporary structures ($50,000), property in transit and at a temporary storage location ($25,000 each), sewer and drain backup ($25,000), pollution cleanup ($25,000), valuable papers and records ($50,000), fire department service charge ($25,000), claim preparation expense ($10,000), contract penalties ($25,000) and ordinance or law (demolition and increased cost of construction) up to $300,000. Your price depends on the project, location, deductible and carrier. We write builders risk across the Austin area, including fast-growing new-home areas such as Leander, Cedar Park, Georgetown, Round Rock, Hutto, Pflugerville, Manor and Kyle.
How much does builders risk insurance cost in San Antonio?
Example from San Antonio (Bexar County): the same $300,000 wood-frame new home on a 12-month term, with a $5,000 deductible and a 1% wind/hail deductible, starts around $603 plus fees, about $0.20 per $100 of completed value, with the same included coverages listed above. The premium is fully earned. Location makes a big difference: the same project costs about 40% less in San Antonio than in Austin with this carrier. We also write the new-home communities around San Antonio, such as New Braunfels, Schertz, Cibolo, Boerne, Converse and Seguin.
How much does builders risk insurance cost in Houston?
Example from Houston (Harris County): the same $300,000 wood-frame new home on a 12-month term, with a $5,000 deductible and a 1% wind/hail deductible, starts around $1,008 plus fees including wind and hail, or about $654 plus fees with wind and hail excluded, with the same included coverages listed above. Wind is the biggest price driver near the Gulf Coast; excluding it only makes sense if wind is insured another way. We also write the Houston area's new-home growth in Katy, Cypress, Fulshear, Richmond, Pearland, Spring and Conroe.
How much does builders risk insurance cost on the Texas coast, like Galveston?
Example from Galveston (Galveston County): the same $300,000 wood-frame new home on a 12-month term with a $5,000 deductible starts around $1,512 plus fees including wind and hail, with a higher 3% wind/hail deductible, or around $690 plus fees with wind and hail excluded. Sewer backup was not included on this coastal quote; the other included coverages listed above were. The premium is fully earned. On the coast, wind roughly doubles the price, so it pays to compare carriers. The same applies to new construction elsewhere along the upper Texas coast, such as League City, Texas City and Dickinson.
How much does builders risk cost for a remodel or renovation?
Remodels are harder to price from an example. The premium depends on the type of work (interior finish work versus structural work, additions or roof removal), the area, and the age and condition of the existing building, plus whether the existing structure is insured on the same policy and whether the home is occupied or vacant during the work. Send us the scope of work, the renovation budget, the value and age of the existing building and photos, and we'll quote it.
Important: these are sample prices, not quotes. All rates are subject to underwriting and to the project's exact geographic location (street address, distance to the coast, wildfire and flood zones). Your actual premium, deductibles and available coverages are confirmed only when a carrier quotes your specific project. Prices updated November 2026.
How long does a builders risk policy last?
For the length of the project, commonly 3, 6, 9 or 12 months, and it can usually be extended if the build runs long. Coverage normally ends when the building is completed, occupied or sold, whichever comes first.
Hard-to-place projects
Who writes builders risk for hard-to-place projects?
Hard Hat Insurance does. Projects that standard carriers often decline, such as owner-builders, vacant renovations, projects already started, coastal or wildfire areas, and high-value or large commercial builds, we place with specialty programs and Lloyd's of London markets.
Can I get builders risk for a spec home?
Yes. Builders building homes to sell can insure each spec home on its own policy until it sells, and builders with several houses at once can use a reporting policy that adds and removes homes as they start and close.
Can an owner-builder get builders risk insurance?
Yes. If you are building your own home and acting as your own general contractor, specialty markets will write builders risk. Expect questions about your construction experience, who is doing the work and the budget, and expect to need a lender-approved policy if you have a construction loan.
Does builders risk cover a vacant house renovation or a flip?
It can, with the right policy. Standard homeowners policies often limit coverage when a house is vacant, so renovation and flip projects are usually written on a renovation builders risk or vacant dwelling form that covers the existing structure plus the work. Tell us the value of the existing building and the renovation budget.
Can I get builders risk if construction has already started?
Often, yes. Many carriers will write a project already under way if there is no damage so far; they may ask for photos, a description of the work completed and the remaining schedule.
Can you insure large commercial, multifamily or high-value projects?
Yes. Larger and high-value projects, including multifamily, mixed-use and commercial builds, can be placed with national carriers or with Lloyd's of London and other E&S markets when the value or location calls for more capacity.
Does builders risk cover flood, earthquake or windstorm?
Wind is usually included, but some coastal areas, including parts of the Texas coast, may need separate windstorm coverage. Flood and earthquake are usually excluded unless added, and in some areas they are placed separately. We check what the project's location needs.
Does builders risk cover my tools and equipment?
No. Builders risk covers the building and materials. Your tools, generators and machines need contractor's equipment (inland marine) coverage, and injuries or damage to others need general liability. See contractor insurance questions.
Get a quote
What do I need for a builders risk quote?
The project address, construction type, completed value (hard costs), start date and expected length, the owner and general contractor, any lender, and for renovations the value of the existing building and the scope of work.
Request a builders risk quote or call (949) 868-7350. Oregon: (971) 430-4717. Washington: (509) 355-9480. Se habla español: preguntas sobre builders risk.
Insurance services are provided by Bearstar Insurance Services, 2151 Michelson Dr., Suite 150, Irvine, CA 92612. Coverage availability varies by state, carrier and project.
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info@hardhatinsurance.net
Hard Hat Insurance is a specialized marketing division of Bearstar Insurance Services.
Insurance services provided by Bearstar Insurance Services.
Jesus Galvan is a licensed insurance broker in CA, ID, NV, OR, TX and WA, serving contractors in AZ, CO and across the western U.S. California License #4291921.
Other license numbers available upon request. Coverage availability varies by state.
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