Which type of insurance is most commonly associated with property loss or damage during construction?

Builders risk insurance is specifically designed to provide coverage for property loss or damage that may occur during the construction or renovation of a building. This type of insurance protects against various risks such as fire, theft, or vandalism that can happen while the property is in a vulnerable state. It typically covers the ongoing construction, materials on-site, and sometimes even the structures being built, ensuring that stakeholders are protected financially from unforeseen events during the construction phase.

In contrast, other types of insurance mentioned serve different purposes. Errors and omissions insurance relates to professional liability, primarily providing coverage for claims arising from mistakes or negligence in professional services. Workers' compensation is focused on protecting workers injured on the job, covering medical expenses and lost wages, rather than property damage. General liability, while important, typically covers third-party claims for bodily injury or property damage that occur as a result of business operations, rather than specifically addressing damages related to the construction site itself. Thus, builders risk insurance is the most relevant choice for protecting against property loss or damage during construction projects.