Builder's risk written to the actual schedule.

Not the loan amount, not the purchase price. Hard cost plus the soft costs your lender requires is the number the policy should reflect, and it should be revisited when the scope changes.

Projects run long. A builder's risk policy that expires on the original completion date leaves the most valuable phase — a nearly finished building — uninsured. Extensions are routine if requested before expiry and considerably harder afterward.

Between substantial completion and the permanent property policy incepting, ownership frequently assumes someone has it covered. We calendar that transition as part of the placement.

Either can, and the construction contract usually specifies. The owner carrying it is common on larger projects because it keeps the limit, the deductible, and the claim relationship with the party who owns the asset. What matters most is that all interests — owner, contractor, lender — are properly named.

Generally not the defective work itself, though many forms cover resulting damage to other property. The distinction is important and the wording varies by form, so it is worth reading before you need it rather than after.

It covers the financial consequences of a covered loss pushing your completion date — continuing loan interest, extended overhead, and lost rents. Construction lenders frequently require it, and it is commonly omitted.