Calculating builder's risk insurance involves assessing the total completed value of the project, including materials, labor, and overhead costs. This insurance typically covers property under construction against damage or loss. To determine the appropriate coverage amount, you need to estimate the project's total value at completion, considering factors such as construction materials, labor costs, and any additional expenses like architectural plans and permits. It's also crucial to account for the duration of the construction project and any potential risks specific to the project or location. Consulting with an insurance professional can help ensure that all aspects of the project are adequately covered and that the policy limits are appropriately set.