Here's everything you need to know about the builder's risk and the cost of building society insurance. The life insurance of the building owner (also known as building society insurance) falls under the risk management for construction projects.

The builders risk for renovations protects the insured interests of the builder during the construction or renovation of a building or structure. It protects materials, furnishings, and appliances used during construction, renovation, or construction in case they suffer physical loss or damage from a covered cause.

When you start a builder on a new build or conversion project or are thinking about how a builder's risk life insurance can help protect their investments and avoid potentially costly losses that are not covered by the homeowner's policy.

The cost of a builder's risk insurance depends heavily on the risk propensity of the builder and whether or not he is insured. Soft costs can be covered, but they may need to add a special certificate to their property insurance, which is used to cover risks to the contractor.

To learn more about how a builder's life insurance policy can benefit your personal customers, as well as the basics of building owner risk, listening to this episode.