1. Builder's risk insurance covers buildings and structures while they are under construction, protecting against various risks such as fire, theft, vandalism, and certain weather-related damages.
2. This coverage ensures that if an incident occurs, the financial burden of repairs or rebuilding falls on the insurance rather than the contractor or developer .

1. Construction projects often involve significant investments.
2. Builder's risk insurance helps mitigate the risk of financial loss due to unforeseen events that could damage the property or materials.
3. For instance, if a fire damages a partially constructed building, the insurance would cover the costs to rebuild and replace materials, safeguarding the financial interests of all stakeholders involved .

1. This type of insurance can be extended to include various parties with a financial interest in the project, such as subcontractors and project designers.
2. By naming these parties as additional insureds, the policy provides broader protection and ensures that all involved parties are covered in case of a loss.

1. Having builder's risk insurance is a critical component of risk management in construction.
2. It allows contractors and developers to focus on their work without the constant worry of potential financial setbacks due to accidents or damages.

1. This peace of mind can lead to more efficient project management and execution. While the cost of builder's risk insurance can be a factor in project bids, it is often a necessary expense that protects against much larger potential losses.
2. Contractors typically factor this cost into their bids, which means that the overall financial responsibility is shared among project stakeholders 

It serves as a safety net that allows for smoother operations and greater confidence in the construction process.

1. PROPOSAL FORM
2. PREVIOUS POLICY COPY (IF ANY)
3. KYC DOCUMENTS (PAN,TAN,GST,INCORPORATION CERTIFICATE,UDYAM REGISTRATION etc..)
4. PAST CLAIM HISTORY (IF ANY)
5. CONTACT DETAILS
6. LOA COPY
7. RISK INSPECTION REPORT