Builders Risk policy provides coverage for property that is in the course of construction. Coverage is typically afforded on what is called an “all risk” basis, which provides comprehensive property coverage. Generally, coverage will be afforded to property not only at the construction site, but also to property at an off-site storage facility or property in transit. When insuring the construction project, insurance can be either completed value or on a reporting form basis. Either way, when selecting the limit of insurance, you will want to insure for the estimated value of the completed project.