How to Find a Builders Risk Insurance Agent

Posted by Anonymous , 9/4/2007 Tags:FindBuildersRiskInsuranceAgent
Post By :
Anonymous
Rate:
Vote

How to Find a Builders Risk Insurance Agent

Introduction

Whether it is building your own private home or a commercial building, finding a builder's risk insurance agent is one of the first things you need to do to make sure your structures are insured. Not all insurance agents have this kind of insurance available and not all agents will have the coverage that you may need.

Instructions

Difficulty: Moderately Challenging

Steps

1

Step One

Ask your current home or auto insurance agent if they provide builder's risk insurance. If they do, find out the cost and what the policy covers.
2

Step Two

Talk to other home builders or construction companies to get recommendations of agents they have used. Get direct contact numbers and names whenever possible.
3

Step Three

Contact the recommended agents and set up an appointment.
4

Step Four

Review what the policy covers in writing. Commercial builder's insurance and a private home builder's insurance will have different kinds of coverage and deductibles. A good builder's risk insurance agent should have many levels of deductibles starting at $500.
5

Step Five

Negotiate with the agent if you are a contractor. If they know you may be bringing repeat business to them, they could offer as much as a 25 percent discount or some other form of savings.
6

Step Six

Collect at least two references from the agent if you do not have enough solid recommendations from other people. Call these references and ask them detailed questions about the coverage, service during a claim and how accessible the agent is.
7

Step Seven

Pick an agents that has the best balance between having a variety of deductibles and good references.

Tips & Warnings

  • Do not waste any time on agent that will not offer some sort of discount if you are a contractor. There are plenty of agents that will fight for your business.
Tools: |