Builders Risk Coverage
At HBIS, our Builders Risk programs are built to offer broad, flexible coverage options to meet the unique needs of our residential builders, to include small commercial buildings.
The programs are built to include coverage for your existing inventory, remodel projects, model homes & contents, and construction trailers & contents as well as your new construction projects.
SINGLE SHOTS
WRITTEN AS 12 MONTH POLICY’S, SINGLE SHOT POLICY’S ARE GREAT FOR PROJECTS THAT YOU DON’T KNOW EXACTLY HOW LONG THEY WILL TAKE TO BUILD AND OR SELL. MOST SINGLE SHOT POLICIES THAT WE WRITE ARE CANCELLED PRO RATA SO WHEN YOU FINISH AND CLOSE YOU GET BACK ANY UN-EARNED PREMIUMS.
Example: You have a house that takes you 8 months to build and close on, you will receive 4 months worth of premium back. (Subject to a $500.00 Minimum)
MONTHLY REPORTING
This is a great program for houses that are going to be completed in 7 months or less. You pay nothing up front, you pay one month in arrears, and you pay nothing for the month the house closes. You can have an unlimited number of houses on this report at any given time.
Example: A $200,000 House would cost you around $60.00 a month. If this house took you 5 months to complete and close, you would end up paying $240.00 for this house.
(These rates are used for example only, call for specified rates)
ANNUAL SALES
Annual Sales is designed for Builders that exceed 2M in annual sales. This is an Umbrella policy that covers everything you build in the 12 month period. There is no reporting involved or the need to buy individual policy’s for each house. This is the most efficient method for you and the Companies, therefore lower cost to you.
Request your quote today and let us custom build an insurance program for you.