South Carolina Builders Risk Insurance

Where to connect with a local adviser

Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.


In South Carolina, builders risk insurance is necessary if you're working on a construction project. Whether you own a contracting company or you're building a house, protection should be obtained. To get accurate coverage, consult with a professional. 

An independent insurance agent can help with policy and premium options. They have insurance for all the what-ifs at an affordable price. Connect with a local expert to get quotes.  

What Is Builders Risk Insurance?

Builders risk insurance in South Carolina will protect your construction projects. Your coverages will depend on what you select and the limits you choose. Check out what builders risk insurance will cover during construction:

  • Fire
  • Explosions
  • Lightning
  • Hail
  • Theft
  • Vandalism
  • Acts of God, like tornadoes

What Does Builders Risk Insurance Cover?

Essentially, a South Carolina builders risk policy will cover projects where buildings or structures are under construction. It pays for things like:

  • Materials
  • Supplies
  • Equipment on-site
  • Equipment in transit

If you get a more robust policy, it can pay for items known as soft costs. When there is damage to a project that causes delay, coverage will pay for any added expense. This can be rental income, lost sales, and even real estate taxes.

How Much Is Builders Risk Insurance?

In South Carolina, builders risk insurance prices vary. Like any business policy you may have, the premium is specific to your personal data and outside factors. Take a look at what your builders risk insurance cost depends on:

  • Type of project
  • Details of the project
  • Coverage selected

Your agent will ask about the anticipated cost of completion. This will weigh in on your pricing. The higher the cost to build, the more your insurance premiums. Things like weather, local crime, and more will play a role as well. 

Are Construction Workers Responsible for Owning Builders Risk Insurance?

When you're shopping for builders risk insurance in South Carolina, it's essential to know who should carry the policy. Does the contracting company or the owner of the property carry it? There are a couple of different ways you can spin it. 

If the contracting company has purchased the materials and land and will own them until the closing day, the contractor will get the coverage. If you own the property and pay the contractor for materials, both parties may be required to obtain it. You are likely to want to list the following on your policy:

builders risk / construction

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Do Construction Workers Need Builders Risk Insurance?

In South Carolina, $5,928,911,000 in commercial claims was paid in 2019 alone. If you don't want to be part of the statistic, adequate protection is necessary. When you have a project under construction, builders risk can help. You need builders risk insurance when you are working on these things:

  • A residential construction project
  • A commercial construction project
  • Remodeling your house
  • Remodeling your commercial property

Does Builders Risk Insurance Cover Theft?

Theft is very important to a builders risk policy. Materials are left out on job sites for months and can be stolen at any time. Builders risk insurance will cover against theft. 

The amounts of coverage vary. Typically, you preselect the limits of protection your project needs for theft of materials. The carrier may have guidelines for what they will offer depending on the size of your project.

Although builders risk insurance is geared towards construction, you can also consider it as a homeowner. If you're building a home in South Carolina, a builders risk policy will need to be purchased before the projected starts. In South Carolina, $891,835,000 in homeowners claims were paid in 2019. For protection against a potential loss, look at the right policy. 

Usually, the builder obtains coverage until the closing on the house. However, anyone with a financial interest in the project should get coverage and be listed on all policies involved. 

How to Connect with an Independent Agent in South Carolina

When you're searching for builders risk insurance for your next project, use a professional. Since coverage options can be tricky, it's crucial to have someone knowledgeable. South Carolina has a network of reliable resources to help. 

An independent insurance agent has access to several markets, saving you time and money. They work on your behalf at zero cost to you. Connect with a local expert on TrustedChoice to get started.

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