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Web what does builder's risk cover? Web a builders risk coverage form is an insurance policy that covers residential and commercial structures while they are under construction or being remodeled or. During construction, anything from fire, wind, theft or vandalism could result in damages and losses that severely impact your bottom. Web builder’s risk insurance covers property on construction sites when it’s damaged or destroyed by fire, vandalism or other unexpected events. Web selecting a builder’s risk insurance carrier. Most insurers write builder’s risk insurance policies on an inland marine form rather than a standard. Web builder’s risk insurance protects builders against multiple types of problems, including: