The all-risk policy is very flexible. The AIA General conditions stipulate that the owner purchase and maintain builder's risk insurance, unless otherwise provided. However, it is common practice for the general contractor to provide this coverage, especially on public projects. Most contractors would prefer to provide the builder's risk insurance themselves because owners may not be familiar with construction insurance. They may procure insurance policies which do not provide adequate coverage or that have excessive deductibles.
Some projects do lend themselves to owner provided builder's risk.
For instance, several independent contractors on one project. For another, remodeling or adding to an existing facility. The contractor still has the option to add on additional coverage if needed. A single open-ended policy that can cover all of the contractor's jobs. The total insurable value of work in place for all jobs covered by the policy is reported by the contractor each month.