The construction industry runs on thin margins, and that’s why cheap Builder’s Risk coverage helps increase your profits. On average the pre-tax net profit for general contractors ranges between 1.4% and 2.4%. Slight damage to your project makes a difference between making or losing profit. Considering the likelihood of damage to your project, how do you prevent financial ruin? Builder’s Risk Insurance covers damage to the project and loss of materials and equipment. Getting insured is fine, however you have other expenses such as wages which may include overtime. These take up a chunk of your profits. It makes sense to reduce costs when you can.
As a contractor getting the right insurance partner is essential. This article covers 5 things to look out for in an insurance agent.
For many contractors scheduling payments may be a hustle. Making payments via escrow is the easiest way to keep up with your premiums.
Escrow makes sure that payments are made on time. It’s practical and easy to set up. Consequently, your mortgage broker or banker will send the check to the insurance company out of closing.
Let’s face it, reputation is everything. Even your contractors business relies on its good reputation for more clients.
BuildersRisk.net is available in 50 states and has over 20 years’ experience in insurance provision. Moreover, we work with 15 carriers to provide tailored insurance covers. Cheap Builder’s Risk coverage doesn’t mean less protection when you choose the right insurance partner.
Poor and slow service is costly. Insurance is a requirement in most states. Having your insurance policy delayed may result in you losing out on a contract.
Builder’s Risk insurance focuses on property coverage only, and requires very little underwriting. With the right insurance agent, you can have your Builder’s Risk insurance certificate ready in a matter of hours. Furthermore, knowing you have a trusted Insurance agent eases any planning concerns you may have.
The insurance industry is rather complex. Different insurance coverage is required to cater for different risk profiles. Moreover, having to get different insurance polices from different providers can cause a headache. In addition to cheap Builder’s Risk Coverage your business may also need:
At BuilderRisk.net, we’re a one stop insurance shop for all your business’s needs.
The construction industry has undergone numerous changes over the years. Moreover, changes in building policies and the introduction of green initiatives has caused a ripple effect in the insurance industry.
Understanding the underlying risk in different projects is important. With us, you will get your cheap Builder’s Risk Coverage along with expert advice. Furthermore, we understand your project needs and tailor our products to your requirements.
As a contractor being cautious is a valuable skill. It helps you foresee any disasters and get ahead of them. However, help from the right insurer will ease your mind.
We would like to help. To get cheap Builder’s Risk Coverage, call Builder’s Risk on 887 960 0221 to get fast, secure and affordable insurance.