 | This article needs additional citations for verification. (March 2011) |
Builder's risk insurance (Contractor's All Risk insurance – CAR insurance) is a type of property insurance which indemnifies against damage to buildings while they are under construction.[1] Builder's risk insurance is "coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause."[2]
- ^ The Architects Handbook of Professional Practice, Twelfth Edition, American Institute of Architects.
- ^ "Builder's Risk Insurance: Specialized Coverage for Construction Projects". Adjusting Today. Archived from the original on 2011-05-14. Retrieved 2011-05-06.