What type of insurance protects a contractor from losses due to fire on a construction project?

All Risk Builders Insurance is specifically designed to protect contractors from a wide range of unforeseen events that could occur during a construction project, including fire. This type of insurance typically covers a variety of risks to the building materials, structures, and equipment while they are in the course of construction. As a result, if a fire were to break out on a job site, this policy would provide financial protection against the loss of materials and any resulting damage.

In contrast, General Liability Insurance primarily covers bodily injury and property damage claims arising from third-party interactions, rather than losses specifically tied to the construction project itself. Workers' Compensation Insurance is aimed at providing benefits to employees who suffer work-related injuries or illnesses, and does not cover property-related losses. Property Insurance might protect owned structures against various risks, but it usually does not extend to the specific protections needed for ongoing construction projects, particularly against the full spectrum of risks that All Risk Builders Insurance would cover.