What type of insurance protects a builder against theft of materials from a job site?

Builder's Risk Insurance is specifically designed to provide coverage for buildings under construction and usually includes protection against theft of materials and equipment on the job site. This type of insurance addresses the unique risks associated with construction projects, including damage to the structure itself as well as losses related to theft, vandalism, or other unforeseen incidents that could occur during the construction phase.

In contrast, Workers' Compensation Insurance serves to cover medical expenses and lost wages for workers who are injured on the job, but it does not offer protection for stolen materials. General Liability Insurance protects against claims of property damage or bodily injury that can arise from the contractor's operations but does not cover theft of materials. Commercial Property Insurance typically provides coverage for business property owned by the contractor, which may not include materials specifically designated for a particular project on a construction site. Therefore, Builder's Risk Insurance is distinctly suited for addressing theft and other risks associated with construction sites.