Austin builds vertically and fast, and both of those facts change what a builders risk policy needs to do.
Long schedules, high completed values, and dense urban sites create exposures that a standard residential form does not address well.
Multifamily and mid-rise along the I-35 corridor.
The corridor from downtown through Round Rock and south toward Buda carries a heavy volume of multifamily and mixed-use construction. On these projects three provisions do the real work.
Soft costs. A twenty-month schedule carries loan interest, taxes, and pre-leasing commitments that a covered delay puts directly at risk. The structure limit does not touch those.
Policy term and extensions. Austin schedules slip. Extensions are not automatic, and many forms cap how many times a term can be extended. Ask about the extension provision at binding rather than in month eighteen.
Ordinance or law. Dense infill sites are often built under code requirements that change during construction. If a covered loss forces a rebuild, ordinance or law coverage is what pays the difference.
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Building or Structures Under Construction Coverage
Risk Factor
Your work-in-progress is a risk in the open. Damage from covered weather, vandalism, or other risks can slow or stop a project.
Solution
Building or Structures Under Construction coverage helps protect against damage to the building or structure being constructed from covered risks.
Materials and Supplies Coverage
Risk Factor
The materials and supplies you have on the job site are vulnerable to risks such as theft, fire, or other types of loss or damage.
Solution
Materials and Supplies coverage pays for the loss of covered materials and supplies used to complete the construction.
Equipment Coverage
Risk Factor
Your tools and equipment are of the utmost importance when building. Losing them to theft or damage could be a major problem.
Solution
Add Equipment coverage to protect valuable construction equipment used to complete the project from damage or other forms of loss.
Temporary Structures
Risk Factor
Weather, accidents, and other risks are potential dangers to temporarily erected structures that help you complete key projects.
Solution
Adding Temporary Structures coverage to your policy covers structures like scaffolding or signs from damage or other forms of loss.
Soft Cost Coverage
Risk Factor
There is often more at stake than what is at the construction site. Damages and delays can affect other parts of your business.
Solution
Soft Cost coverage helps with extra costs such as loan interest, lost sales income, rental income, real estate taxes, and more.
Flash flooding.
Central Texas drains fast and violently. Creek crossings, low-lying sites, and construction that has altered natural drainage all raise the exposure, and builders risk excludes flood in every standard form. If your site is anywhere near a creek or in a flood-prone watershed, address flood separately before you start.
Hillside and Hill Country sites.
Western Travis and Hays County construction on limestone and steep grade brings earth movement into the conversation. Builders risk excludes earth movement, including subsidence and settling. On a hillside site with significant cut and fill, that exclusion is worth reading closely and discussing with your engineer.
Tenant improvement and office build-out.
A large share of Austin construction is interior build-out of existing buildings. The question that matters is whether the existing structure is covered. In most standard forms it is not. A contractor doing a full-floor build-out who assumes the shell is insured under their builders risk policy is wrong in an expensive way.
Frequently asked questions.
My project schedule slipped. Is my builders risk policy automatically extended?
No. Extensions must be requested and approved before expiration, and some forms limit how many are permitted.
What are soft costs and do I need that coverage?
Soft costs are the financial consequences of a covered delay — loan interest, taxes, lost rental income, extended general conditions. On a financed multifamily project, yes.
Does builders risk cover damage from a flash flood?
No. Flood is excluded and requires separate coverage.
Get Austin builders risk terms.
Send us the project address, completed value, and construction dates and we will quote most Austin projects within one business day.
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