Instant Insights / Construction update: Challenges, opportunities and risks

Today's construction insurance market offers unique challenges and risks, but it also presents opportunities for agents, brokers, and insurers to grow business.

Market Insights

How agents can add value to the builders risk sales process

It starts with understanding the product, knowing the appetite of the insurers in the market, and studying the competition.

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Builders risk insurance protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure. (Photo: Shutterstock)

Builders risk insurance is easy to quote and bind. The product is sold by a number of carriers, some offering a highly automated online process with little intervention. This means an insurance professional doesn’t have to be an expert in the course of construction insurance to win the account!

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