Expect to pay between 0.5%-1% of the value of the finished structure(the project).
The formula for coming up with a premium on a builders risk insurance policy begins with the total cost of the project. Insurance companies start by determining the total cost of the job, including materials and labour. Then, they charge you a percentage of that total.
On a $1 million build, for example, you can expect to pay between $5,000 and $10,000.