Builders Risk

“There is a growing focus on sustainability and green building practices in the construction industry, which can impact insurance requirements and the coverage needed,” says independent agent Jase Riggs.

US Assure expanded eligibility for XPressBIND, its online six-question application with no underwriting holds, from $500,000 to $1 million for new home construction projects.

An independent agent can provide the benefit of their knowledge and expertise to ensure their clients are adequately covered during a home renovation or remodeling.

From rising rates and inflation to catastrophes and labor shortages, independent agents can help clients balance the many factors impacting the builders risk market.

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.