Builders risk in California has no single price, but the floor is published. Alchemy's national builders risk program sets a minimum premium of $400 per policy term, and its terms are fully earned.[1] Above that floor the premium follows the project: the completed value (or the renovation cost plus the existing building), the construction type, the address's wildfire and coastal exposure, the deductibles and the months the project runs. For a sense of scale, one builders risk quote Menlo received in September 2026, for a non-structural renovation with $50,000 of soft costs, came to $7,407.12 for the term, including a $200 policy fee and surplus lines tax, and it was subject to underwriter review.
This guide is for a California owner, builder or general contractor pricing a project before the lender or the contract asks for proof of coverage. It covers what sets the price, how new construction and renovations are rated differently, what a term costs, and what lands on top of the premium. When you're ready, request builders risk quotes and we'll send the project to several construction markets.
What is the minimum premium for builders risk in California?
The only California-open program that publishes one in our carrier files is Alchemy, at $400 per policy term.[1] That is the least you can pay for a policy of any size on that program, before fees and taxes. Blitz and Green Shield don't publish a builders risk minimum in their program sheets.[2][3]
The minimum matters most on small jobs. A $30,000 kitchen remodel rated on its own value might come out below the floor, and then the floor is the premium.
What sets the price of a builders risk policy?
The insurer rates what could be lost, for how long, and where. The factors the California programs ask about:
| Factor | Why it moves the price | What the programs publish |
|---|---|---|
| Completed value or renovation cost | The limit is the most the policy could pay | Alchemy: new construction $150,000–$5,000,000 per structure. Renovation $10,000–$1,000,000 per job site[1] |
| Existing building (renovations) | Covering the old structure adds a second limit | Alchemy: existing structure $150,000–$1,000,000[1] |
| Construction type | Frame burns faster than masonry | Green Shield lists frame, joisted masonry, masonry non-combustible and superior[3] |
| Wildfire, wind and coast | Catastrophe exposure is rated or excluded | Alchemy closes wildfire hazard groups D and F and sites under 1 mile from the West Coast. A 2% wind/hail deductible applies in high hazard levels[4] |
| Term | More months under construction, more exposure | Alchemy: 12 months new construction, 1–12 months renovation[1] |
| Deductibles | A higher deductible lowers the premium | The renovation quote we received used a $2,500 all-other-perils deductible and a 5% windstorm deductible |
| Soft costs and add-ons | Delay costs, transit and cost increases add limits | Alchemy: soft costs $5,000–$100,000. Transit and temporary storage $10,000 each[1] |
| Builder experience and claims | Underwriters price the builder as much as the building | Alchemy asks for 5 years of loss runs or a no-loss statement[1] |
| Work already done | A half-built project has more value at risk on day one | Alchemy accepts up to 30% complete without underwriting review. Blitz refers construction already started[5][2] |
The distance to a fire hydrant and the fire protection class also feed the rate, which is why the application asks for them.
How is a renovation priced differently from a new build?
A new build is rated on its completed value. A renovation is rated on two pieces: the cost of the work and, if you want it covered, the existing building. Alchemy writes the renovation from $10,000 of work and the existing structure from $150,000 to $1,000,000, and it adds them together as the completed value limit.[1][6]
The kind of renovation matters too. Blitz rates an addition or minor remodel, a significant non-structural renovation and a structural renovation as separate project types, and it refers load-bearing work to an underwriter.[2] Green Shield writes structural and non-structural renovations depending on the market.[3] Tell the broker if walls, the roof structure or the foundation are being changed. It changes both the market and the price.
How does the policy term affect cost?
Builders risk is bought for the length of the project, and most programs keep the whole premium once the policy starts. Alchemy writes new construction on a standard 12-month term and renovations in 1-month increments up to 12 months, all fully earned, and the policy expires on its own without a non-renewal notice, with extensions by request.[1] Blitz offers 3, 6, 8, 10 and 12 months, with options beyond a year.[2] Green Shield writes single projects for up to 30–36 months.[3]
So pick the term from a realistic schedule. A term that is too short means buying an extension at the end. A term that is too long means paying for months you didn't need, because a fully earned premium isn't refunded when you finish early.
What gets added on top of the premium?
Fees and, on surplus lines paper, state taxes. In the quote we received, a $6,985 premium became $7,407.12 after a $200 policy fee, $209.55 of surplus lines tax (3%) and a $12.57 stamping fee (0.18%). Those are California's surplus lines tax and Surplus Line Association stamping fee rates.[7] An admitted policy doesn't carry the surplus lines tax. Our surplus lines tax table shows how it is figured.
What does a real California builders risk quote look like?
Here is the one builders risk quote published to a Menlo customer so far, with nothing that identifies the customer or the address. We show it because it is real, not because it is typical: one quote can't tell you an average.
| Item | Amount |
|---|---|
| Project type | Non-structural renovation |
| Insurer program | Alchemy builders risk (Cornerstone Insurance Producers) |
| Coverage premium (also the minimum earned premium) | $6,985.00 |
| Policy fee | $200.00 |
| Surplus lines tax | $209.55 |
| Stamping fee | $12.57 |
| Total for the term | $7,407.12 |
| Deductibles | $2,500 all other perils, 5% windstorm or hail |
| Options included | $50,000 soft costs, 10% construction cost increase, $10,000 property in transit or at a temporary location |
Source: Menlo quote record, September 2026. The carrier flagged the quote for underwriter review before binding, listing wildfire exposure, the share of construction already complete and the value of the existing structure among its referral conditions. A referral can change the terms or the price.
How can I lower the cost?
- Raise the deductible. It is the most direct lever the application gives you.
- Match the term to the schedule. Don't buy 12 months for a 5-month job when the program sells monthly terms.[1]
- Only add the soft costs you need. Soft costs protect loan interest and delay costs, but each limit adds premium.[1]
- Buy before work starts. Alchemy's national program takes projects up to 30% complete without review, and Blitz refers any project already started.[5][2]
- Secure the site. Blitz's application asks for fencing and lighting on new construction and reviews other safeguards, such as alarms and security services.
If you're an owner rather than a contractor, read our guide to builders risk for homeowners and owner-builders first. Which market takes you depends on who does the work. Our builders risk guide explains what the policy covers.
Frequently asked questions
How much is builders risk insurance for a small remodel?
At least the program minimum. Alchemy's is $400 per policy term, before fees and taxes.[1] A larger remodel or one that also covers the existing house costs more. The one renovation quote we've published came to $7,407.12 for the term, including fees and tax.
Is builders risk priced per year or per project?
Do I get money back if the project finishes early?
Usually not. Alchemy's terms are fully earned, so the premium is kept once the policy starts.[1]
Why was my project declined before it was priced?
Location is the usual reason. Alchemy's national program doesn't write wildfire hazard groups D and F, sites under a mile from the West Coast, or projects over water.[4] Another market may still take it.
Is builders risk cheaper from an admitted insurer?
An admitted policy avoids the 3% surplus lines tax and 0.18% stamping fee, but the premium itself depends on the program and the project.[7] Compare total cost, deductibles and limits, not just the premium line.
This guide is for educational purposes and summarizes carrier program guides dated 2025–2026 and one quote record from September 2026. Programs, eligibility and prices change, and your policy's terms, conditions and endorsements control. Menlo Insurance Services (CA license 6020106) is a licensed broker that may earn a commission on a placement and does not guarantee that any coverage or price will be available. Surplus lines policies are written by non-admitted insurers, which are not backed by the California Insurance Guarantee Association.
The Bottom Line
Builders risk in California starts at a published $400 minimum per term on Alchemy's national program, and it rises with the project's value, construction, location, deductibles and term.[1] The one real renovation quote we can share came to $7,407.12 for the term including fees and tax. Because most terms are fully earned, pick the term from a realistic schedule, buy before work starts, and compare the total, not just the premium.
References
- 1.Alchemy Insurance Solutions. “Builders Risk National Program (Admitted & E&S) Quick Reference Sheet: Coverage Options & Limits.” 2025. https://6041899.fs1.hubspotusercontent-na1.net/hubfs/6041899/Carrier%20Store%20Resources/Alchemy/BR%20N%20Program%20QRC%20updated%2010925.pdf ↩
- 2.Blitz Insurance. “Builder's Risk Appetite.” 2025. https://cdn.prod.website-files.com/6849cf37787dd9efa946a7bf/690a2b1abb749501f45b63f3_Builder%E2%80%99s%20Risk%20PDF%20V2.pdf ↩
- 3.Green Shield Risk Solutions. “Course of Construction, Specialty Lines, and builders risk appetite summary.” 2026. https://6041899.fs1.hubspotusercontent-na1.net/hubfs/6041899/Green%20Shield%20Risk/Course%20of%20Construction%20-%20Specialy%20Lines.pdf ↩
- 4.Alchemy Insurance Solutions. “Builders Risk National Program QRC: Catastrophe Risk Exposure and Ineligible Risks.” 2025. https://6041899.fs1.hubspotusercontent-na1.net/hubfs/6041899/Carrier%20Store%20Resources/Alchemy/BR%20N%20Program%20QRC%20updated%2010925.pdf ↩
- 5.Alchemy Insurance Solutions. “BR N Program QRC (mid-completion and applicant rules).” 2025. https://49127919.hs-sites.com/hubfs/BR%20N%20Program%20QRC%20updated%2010925.pdf ↩
- 6.Alchemy Insurance Solutions. “National Builders Risk (program one-pager).” 2025. https://6041899.fs1.hubspotusercontent-na1.net/hubfs/6041899/Carrier%20Store%20Resources/Alchemy/One-Pager%20BR.pdf ↩
- 7.Surplus Line Association of California. “Broker Taxes and Fees.” Accessed 2026-09-27. https://www.slacal.com/resources/broker-taxes-fees ↩