Which insurance covers unexpected losses during construction, such as weather-related damage?

Builder's Risk Insurance is specifically designed to cover losses that can occur during the course of construction, including damages caused by weather-related events such as storms, wind, or hail. This type of insurance protects the structure under construction and typically includes coverage for materials, fixtures, and any installations made on the property. It is crucial for builders and developers as it mitigates financial losses that can arise from unexpected incidents during the building phase.

In contrast, Professional Liability Insurance focuses on claims related to professional services rendered, such as design errors or omissions, rather than physical damage to the project itself. General Liability Insurance provides coverage for third-party bodily injury and property damage that could occur on the job site, but it does not cover damages to the construction project itself. Workers' Compensation Insurance is aimed at providing benefits to employees who are injured or become ill due to their work, so it's not related to property loss during construction. Thus, Builder's Risk Insurance is the appropriate coverage for protecting against unexpected losses like weather-related damages.