A subcontractor called the general contractor and told him he moved a water supply line, after which a leak occurred. The sub filed a claim, but now denies he ever touched the supply line. The sub’s carrier won’t follow through with the claim.
With factors such as an aging workforce and economic fluctuations pushing material and wage costs higher, agents can help their clients purchase adequate builders risk coverage.
A client is planning a $400,000 house renovation. Would a builders risk policy be the best option to cover the renovation, or are there specific ISO homeowners endorsements that can be added?
As the builders risk market evolves through a changing economic and physical landscape, agents play a key role in protecting the interests of the insured.
The product covers $100 million in capacity per construction project on a lead or follow basis.
What may seem like insignificant details can have profound ramifications if a claim occurs. Here’s how to avoid a major setback with a client’s policy.
“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.
