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


  • Commercial Risk Advisor

Homebuilder / Construction White Papers