The mission of the Georgia School Boards Association is to ensure excellence in the governance of local school systems by providing leadership, advocacy and services, and by representing the collective resolve of Georgia’s elected boards of education.


Builder’s Risk Coverage

RMS Logo

The Builder’s Risk Coverage program, part of the Risk Management Fund (RMF), provides member school districts a product aimed at meeting their need to insure their builder’s risk exposure when they are either renovating a building or building a new structure.

What is Builder’s Risk Coverage?

  • Covers property during the course of construction
  • Can be purchased by the building owner, contractor, or sub-contractor; anyone with an insurable interest in the project

When do you need it?

  • New buildings
  • Additions
  • Renovation

Program Benefits

  • Comprehensive Coverage – especially helpful on renovation projects where it covers the building and the renovation materials all under one policy
  • Simplified Premium – cost runs for the term of the project even when it runs over a July 1st renewal in the RMF.  If project runs over, Member simply notifies GSBA for an extension of coverage
  • Broad Coverage and Competitive Premiums
  • Coordination with GSBA RMF property coverage – coverage dovetails with existing property coverage

Coverage Details

  • Projects are classified into one of three categories:
    • Light Renovation—typically painting, flooring, lighting, HVAC modifications, etc.
    • Heavy Renovation—projects will be quoted/underwritten on an individual basis.  typically would last greater than 12 months;  Examples are: roof replacements, adding square footage, etc.
    • New Construction—projects will be quoted/covered by GSBA-RMF as long as they project is below $50 million
  • Limit of $50 Million for new projects
  • Limit of $50 Million for renovation projects
  • Higher limits available upon request with underwriters’ approval
  • Competitive Pricing
  • One premium quoted up front for the term of the project
  • RMF coverage runs through the term of the construction project irrespective of policy dates

How to apply?

  • Same GSBA 3-page application combined with CBIZ data (for renovation projects)
  • Quick turnaround on providing a pricing quote
  • Upon binding, endorsements are issued to the Member on a per project basis

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Request a proposal or contact a Member Advocate in your area for more information.