Builders Risk

With more people being priced out of homeownership, build-to-rent is among the fastest-growing asset classes in commercial real estate.

While the construction industry is facing headwinds such as inflation, labor shortages and supply chain delays, there are some indicators that things might be getting better.

Most real estate projects require builders risk insurance, both during the course of new construction and when remodeling.

Whether you are securing coverage for personal lines or commercial lines clients, agents servicing course of construction accounts must grasp the importance of timing.

The personal and commercial property insurance market faces supply chain disruptions, inflation and an increase in extreme weather impacting clients’ builders risk coverage.

Through the use of alternative building materials as well as technology, new trends in the construction industry offer options for agents to provide the best path forward.

With fears of an economic recession ahead, agents and carriers can show their value by helping construction clients through any economic turmoil.

Taking the long view with construction sector clients ensures both parties are prepared to ride out any short-term bumps in the road.

The builders risk product eliminates gaps in coverage that may exist within the owner’s corporate liability insurance program.

As weather catastrophes increase in intensity and frequency, insurance agents must be prepared to advise construction clients about builders risk coverages.