This paper covers topic of insuring buildings under construction, along with risks that can be insured. It also describes managing risks in businesses and insurance. Paper explains legal framework for the successful conclusion of the insurance contract along with practical examples of necessary steps during contracting insurance and how to act when insured damage happens. Insuring buildings under construction is covered in details, since there is not much literature, papers and seminars on the given subject. The paper proved the thesis about profitability of insuring buildings under construction, which was the goal of this paper