What is 'builders risk' coverage?

Builders Risk is a specialized property coverage for structures under construction. It covers: the building being constructed; materials and supplies on site or in transit for the project; temporary structures (scaffolding, equipment sheds). Coverage is typically on a 'reporting form' where the limit increases as construction progresses and the insured reports the completed value monthly. Coverage ends when the building is complete and occupied or sold. Key parties with insurable interest: the property owner; the general contractor; subcontractors. Inland marine classification — builders risk is technically an inland marine line despite covering stationary property under construction.