A new home under construction is a significant financial investment. From the moment the foundation is poured, your capital tied up in materials, labor, and equipment is exposed to risks like fire, theft, and Oklahoma’s unpredictable weather. 

Our Builder’s Risk Insurance for Dwellings is specifically designed to safeguard your project throughout the entire course of construction, ensuring a single incident doesn’t derail your build and devastate your bottom line.

How Much Builders Risk Insurance Do I Need?

The coverage limit for your Builder’s Risk policy should be based on one key number: the total estimated replacement cost of the finished home. This is the full value of what you are building, including all materials and labor, but not including the value of the land itself.

An OKFB agent specializes in this calculation. They will review your construction plans and budget to help you set a limit that is sufficient to rebuild the entire project from the ground up, even if a total loss occurs the day before completion. This ensures your investment is fully protected at every stage.

Builders Risk Insurance Coverage & Features

Dwelling Under Construction

This is the core of your policy. It protects your primary investment, the main home itself, throughout every phase of construction, from the foundation to the final walkthrough. This coverage provides the funds to repair or rebuild the structure if it’s damaged by events like:

  • Fire
  • Theft of building materials
  • Vandalism
  • Wind and hail

Other Structures on the Property

This extends the same critical protection to other planned, permanent structures on the property separate from the main home. This is essential for projects that include a:

  • Detached garage
  • Workshop or hobby building
  • Permanent shed

This ensures the entire scope of your construction project is properly insured.

 

PAYMENT OPTIONS & PREFERENCES

Convenient Payment Options

We offer many ways to conveniently pay your builders risk – dwelling premiums. Choose from a full payment, quarterly payments or a monthly automatic draft from your bank account. Check with an OKFB agent to see which option may be best for you.

Do you need to change your premium payment preferences?

We understand life happens. That’s why we allow our policyholders to easily update their payment preferences. Contact your OKFB agent to make a change.