What are soft costs in builder's risk insurance?

Soft costs include expenses like interest on loans, legal fees, architectural costs, and lost rents due to project delays from a covered loss.

Soft costs refer to non-physical expenses incurred due to delays, such as lost income, interest payments, and legal fees. Coverage for soft costs can be added to builder's risk policies.

A contractor files a claim after a truck collides with scaffolding at the site, causing structural damage.

Bundle builder's risk insurance with other policies for potential discounts and streamlined management.