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Getting Builder’s Risk insurance in California makes good business sense. In 2019 California had more construction projects than any other state, with 1302 projects. These projects had a combined value of $524.6 billion.


As a player in this sector, Builder’s Risk insurance is a good way to transfer risks on your projects and protect your investment.  But the price must be right.  Getting the cheapest policy may be tempting but what is really needed is the best price for the right coverage.  Let’s talk about what this means.


The Right Coverage


You may have decided Builder’s Risk insurance in California is the right thing for your business. But the right coverage is key. Your Builder’s Risk policy should be tailored to your specific needs.  What coverage does your business or project require?


A good way to quantify this is to take an inventory of your business.  Look at aspects like:


  • The services you provide
  • The trade skills you offer
  • Your tools and equipment
  • Materials you use
  • Where you operate


Taking Stock


Once you have taken stock of these things, you can assess the problems that could arise. There could be a fire on site; an accident could destroy the building or part thereof; vandals could damage the work you have done; your equipment or materials could be damaged during transportation to site; your tools could be stolen.


Another important factor in the right coverage is to insure for the full replacement value of the project once complete.  In other words, you purchase coverage for the amount it would cost to replace the building if it was totally destroyed once it is completed.  Not including the value of the land. When you just take the cheapest policy available, you may not be covered for the right amount or the right loss events, and you could find yourself significantly out of pocket.


The Right Price for Builder’s Risk 


Your Builder’s Risk policy is customized for a particular business or project. When you choose your agent, you want someone that can get you a good price on your policy. Contractors Liability represents both national and regional companies and this gives us access to the best options for competitive pricing.


We will determine with you what the right coverage is, and then approach our network.  In this way you will get at least 3 competitive quotes that you can compare. Local agents rarely have access to a network of providers, and this could mean you spend more than necessary.  Optimize your Builder’s Risk Insurance in California by choosing the right agent.


Get Builder’s Risk Insurance in California Today


Give our agents a call at Contractors Liability.  We know the construction industry well and will guide you through the policy options.  Once we have your details and understand your needs, we will immediately start getting quotes for you.  In most instances you should have some options to choose from on the same day.  Call Contractors Liability on 866-225-1950 and get the right coverage at the right price.

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