Reporting Form Policy (Annual or Monthly)
Multiple projects new in the yearIdeal for builders with consistent activity and multiple starts. This policy is ideal for builders with multiple starts per year and consistent activity. It simplifies the reporting process and allows for easy extensions if construction timelines shift.
Key Features
Protect Your Project. Protect Your Business.
Builders Risk Insurance is designed to safeguard your construction projects from unexpected events like fire, theft, vandalism, and weather related damage.
This specialized property coverage applies while the home is under construction and remains in your inventory, ending only when the project is complete, sold, or abandoned.
Who should carry the policy? Simple answer: The Builder. Always.
Here’s why it’s Critical for you to be the Named Insured on the Policy:
Annual Reporting:
A good fit for builders who need to report multiple starts in a given month. Average time for construction is between 8 to 12 months. Coverage on a new start is good for 12 months. At the end of the 12 month term, builders have the option to extend coverage in 3 or 12 month intervals. A start may be re reported for up to 24 months. After that, it may be converted to an unsold dwelling policy if the home remains on the market.
Monthly Reporting:
Allows builders to report multiple starts in a given month with a construction timeline of 4 to 6 months. Each new start is initially covered for 5 months and may be extended month to month as needed. Ideal for spec builders, starter homes, and lower TIV values. Cost effective for builders whose time of construction is under 7 months.
Best For:
- Builders with 1–49+ projects per year
- Projects with similar scope and value
- Builders wanting flexibility in reporting new projects
- Straightforward process for extending coverage on active projects