FL Agents: Builders Risk Reminders and Tips

9.23.21

Tips to Simplify the Underwriting Process for Builders Risk Remodel Projects

We listened to your feedback, and we have come up with some tips for you. We hope this will better simplify the underwriting process on Builders Risk Remodel projects. 

What you need to know:

  • Risks referred to underwriting, for remodeling projects, you'll be required to provide the General Contractor's name (if the GC is not listed as the policyholder)
    • What gets referred to underwriting? Any remodel projects with over $300K TIV existing structure coverage and structures 1955 and older.
  • If the roof is not being replaced in the remodel, our underwriting team will inquire about the age of the existing roof if unable to find it via permit search and/or photos.
  • When quoting a remodel, we ask the type of working being done; please provide as much detail as possible when answering this question. Please do not just write "renovation." Be specific on the type of renovations being made.

As a reminder, properties must be unoccupied for coverage to apply. Also, please note that any new construction over $500K will require a General Contractor name.

Questions? Reach out to your Territory Sales Manager, or contact our Inside Sales Team at the email or phone number listed below.

As always, we appreciate your business and value our partnership.

Bankers Insurance Group
bankersmarketing@bankersinsurance.com
800.627.0000 x4900