While many types of professionals, such as contractors and construction workers, require builders risk policies in order to legally work, homeowners need this protection only at specific times. An individual who has a home under construction will want a builders risk policy to extend the coverage provided by their homeowners policy. Homeowners insurance does not cover construction projects in progress. Builders risk covers theft and destruction of building materials as well as property while in transit and in storage. Property belonging to contractors and suppliers is also covered under builders risk insurance, but not homeowners insurance. Builders risk policies also provide coverage for certain natural and other disasters that homeowners insurance doesn't. Flood, earthquake, and sewer backup damage or destruction to property or building materials could be covered under a builders risk policy, but not a homeowners policy. Homeowners also find the available coverage terms provided by builders risk insurance attractive. Typically, builders risk policies can be bought in increments of 6, 9, or 12 months. This allows homeowners to just purchase coverage for the length of their construction project, rather than having to keep paying for a policy they no longer need down the road.