Builders Risk and Renovation Insurance in NYC

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A building under construction or renovation has different risks than a finished one, and a standard property policy may not fit. KB Insurance is a boutique independent brokerage. For over a decade, we've placed property, specialty and commercial risks with creative solutions and a personal touch.

We help investors, developers and owners put the right coverage in place for the project, and line it up with their lender's requirements.

What's Generally Covered

Terms depend on the insurer, the policy wording and underwriting. Options may include:

  • Builders risk for the work in progress and materials on site, in transit or in storage
  • Renovation coverage that considers the existing structure
  • Premises liability for the owner during the project
  • Soft costs or delay options on some projects
  • Lender endorsements, such as mortgagee or loss payee wording
  • Extensions if the project runs longer than planned

We'll explain how builders risk works alongside your property, vacant, and contractor coverage.

Who It's For

  • Fix-and-flip and BRRRR investors
  • Owners doing gut renovations or conversions
  • Small developers and ground-up projects
  • Borrowers whose construction or hard-money lender requires builders risk

What We Need to Quote

  • Project address and property type
  • Purchase price and existing structure details
  • Scope of work and construction budget
  • Completed value
  • Start date and expected duration
  • Lender name and insurance requirements
  • General contractor information

Start a quote with the address or call 718-872-5525.

Why Work With a Broker

Renovation projects mix property, construction and liability questions, and lenders want the paperwork right before they fund. As an independent broker, we compare options from multiple markets and coordinate certificates, so the project can move.

Start a Quote

Start a Quote or call 718-872-5525.
KB Insurance Brokerage · 5014 16th Avenue #515, Brooklyn, NY 11204

FAQs

Do I need builders risk for a renovation?

It depends on the scope of work and your lender. Larger renovations often call for builders risk or a renovation-specific policy.

Does builders risk cover the existing building?

Not always. Some policies cover only the new work, while others can include the existing structure. This should be reviewed carefully.

What limit should I use?

Builders risk limits are commonly based on completed value. Your lender may set requirements too.

What if the project runs long?

Ask about an extension before the policy term ends.

Do lenders require builders risk?

Many construction and hard-money lenders require it, along with specific endorsements.

How does it fit with a vacant policy?

Some projects use vacant coverage before work starts and builders risk during construction. We'll help map the timeline.