GENERAL LIABILITY & BUILDERS RISK
Homebuilders Insurance
Alabama Homebuilders Insurance
Professional Insurors offers a comprehensive homebuilder construction insurance & risk management program for the Alabama home construction business. With over 45 years of experience in the insurance industry, we are experienced in insuring homebuilders and protecting your risk-inherent business with the insurance coverage you need.
Our homebuilders insurance program features a dedicated claims and risk management team dedicated specifically to the construction insurance industry to ensure your confidence in our support and aptitude.
This program has been proven to save homebuilders on their general liability coverage.
Homebuilders General Liability Insurance
General Liability (GL) insurance protects homebuilders from third-party financial risks, but understanding premiums, audits, and employee compensation is key to avoiding unexpected costs.
Coverage Options:
Per Project Aggregate (new limits per project)
Blanket Additional Insured
Blanket Waiver of Subrogation
Broad Definitions of who is insured
Broad Definition of Territory
Managing GL Insurance Audits for Homebuilders
General Liability (GL) insurance protects homebuilders from financial risks, but understanding premiums, audits, and employee compensation is key to avoiding unexpected costs.
Key Factors Affecting Premiums:
Revenue & Payroll Estimates – Premiums are based on projected figures, later adjusted via audits.
Work Type & Risk Level – Residential, commercial, and remodeling projects have different rates.
Subcontractor Insurance – Uninsured subcontractors increase premiums.
Employee Classifications – Labor-intensive roles cost more.
Avoiding Costly Audit Surprises:
Keep accurate payroll & revenue estimates.
Ensure subcontractors have valid insurance.
Organize financial records for smooth audits.
Flat Fees for Owners & Project Managers:
Some carriers cap payroll-based premiums or offer flat-fee options for cost stability.
Managing GL: Key Factors Affecting Premiums:
Revenue & Payroll Estimates
Premiums are based on projected figures, later adjusted via audits
Work Type & Risk Level
Risk Levels vary by project type (residential, commercial, remodeling)
Subcontractor Insurance
Uninsured subcontractors increase liability and premiums
Employee Classifications
Labor-intensive roles carry higher rates than administrative role
Homebuilders Builders Risk Insurance
Builders Risk covers your building(s) while under construction. Installation floaters designed for trade contractors insure their property risk in the building while under construction.
Coverage Options:
Blanket or Per Project Basis policies
Very Competitive Rates
Owners Interests Coverage Available
Testing Coverage Available
Multiple Deductible Options
Single Shot vs Reporting Form Builder’s Risk Insurnace
There are two main types of Builders Risk policies: Single Shot and Reporting Form
More Coverage Options Available
Commercial Auto Insurance
Professional Insurors provides business or commercial auto coverage to homebuilders and accommodates a wide variety of situational variations.
Coverage Options:
Blanket Additional Insured
Named Coverage for Owners of Company
Broad Coverage Territory
Hired / Non-Owned Automobile
Contractors Equipment Coverage
Contractors Equipment Coverage, often called “inland marine” in Oklahoma, covers your equipment physical damage including collision, theft, and many other perils. The liability for this equipment is usually covered under your General Liability coverage.
Coverage Options:
Coverage Area is Very Broad
Multiple Deducible Options
Replacement Cost for Newer Equipment
Workers Compensation
Workers compensation protects your homebuilding construction company and employees from work-related injuries, accidents or even death.
Coverage Options:
Multi-State Coverage
Blanket Waiver of Subrogation
Pay as you go solutions available
Meets All State Guidelines
Construction Bonding
License and Permit Bonds Available Nationwide
Performance & Payment Bonds Available (Underwriting Required)
Commercial Umbrella Liability
A coverage written to cover your exposure to damages by third parties for bodily injury or property damage claims or lawsuits that exceed your limits on your underlying policies.
Coverage Options:
High Limits Available (min $1,000,000 up to $100,000,000)
Following Form or Full Umbrella based on Risk & Size
Blanket Additional Insured When Required
Other Homebuilder Insurance Coverages
Property Insurance
Employment Practices Liability
Crimes, including Employee Dishonesty
Equipment Breakdown
Health & Benefits
Flood
Directors & Officers Liability
Errors & Omissions
MEET YOUR RISK ADVISOR
Madeline Brown, CISR, CRIS
COMMERCIAL RISK ADVISOR