Builders Risk Insurance is often written on a short-term basis, ranging from three to twelve months. It covers buildings while they are being constructed or renovated. It provides coverage to general contractors and other professionals who have insurable interest in materials, equipment, and fixtures used in construction projects, should those items sustain physical damage. This is because a general contractor can be held accountable for damages due to perils such as theft, vandalism, wind and fire until the improvements are installed and become the owner’s property.