Top Tips on Cheap Builder’s Risk Insurance for General Contractors

Builder’s Risk Insurance protects structures under construction and adds to your credibility. Builders Risk most likely costs between 1% to 5% of the total construction value.  However, the costs may be subject to your exemptions. So how do you get adequate coverage at an affordable price?

Investing time in research gives you an understanding of market prices for Builder’s Risk Insurance. However, unlike us, most insurance companies do not explain their premium costs. By understanding the risks that determine your premiums, you can get the perfect cover. Costs are often dependent on:

• Exclusions in Policy
• Total project cost
• Geographical location
• Length of Project
• Additional fees and taxes
• Type of Construction

Getting insured is cheaper than most people realize. In this guide we will look at 5 things to consider when selecting your cheap Builder’s Risk Insurance coverage.

1. Operations within your state and others. 

Most states require general contractors to have insurance before embarking on any project. However, different states have different requirements. Here at BuilderRisk.net we work with 15 carriers across different states.

Our goal is to provide cheap Builder’s Risk Insurance to clients in all states. Our insurance provides personalized plans that suit your business needs and comply to state requirements.

2. Industry experience

Getting the right insurance partner can be a hassle. You need an insurance agent who understands shifts within the industry and regulatory requirements. A good example is the shift to green initiatives.

With 20 years’ experience under our belts we are a great fit for your growing business.  Our agents review your operations and offer knowledgeable advice.

3. Additional policies 

While our focus lies in Builder’s Risk Insurance, we understand that your business has other needs too. We have a host of other packages to help your business grow. These include:

• Commercial Vehicle Insurance
• Payout Escrow
• Workers Compensation
• Payment Plans
• Security Bonds
• Contractors Insurance

4. Cheap Builder’s Risk Insurance with adequate coverage

Insurance can be tricky business. Different construction projects require different levels of coverage. Some projects require insurance coverage against certain weather conditions while others don’t. This is dependent on the project location.

Earlier on we spoke about exemptions that reduce insurance coverage. Some insurance policies take out key risk factors in order to lower premium costs. This may prove detrimental to you in the long run. Imagine having a policy that doesn’t cover for theft, just to have your project materials stolen from the site? Our cheap Builder’s Risk Insurance will make sure you have all the coverage you need at an affordable price.

5. Quick turnaround time on your quote

We understand your need for fast service. After all, the sooner you have your insurance ready the sooner your project can begin. Thanks to our class A affiliate companies, you can get cheap Builder’s Risk Insurance policies within an hour. All you need is:

• A check, or
• An approval from the mortgage broker

Get the best cheap Builder’s Risk Insurance

As a general contractor, your business depends heavily on getting the right insurer by your side. Cheap Builder’s Risk Insurance paired with our personalized service ensures that your business needs are met.

We would love to be a part of your journey. To get adequate coverage at an affordable price call Builder’s Risk on 887 960 0221.