2213 S Ferdon Blvd
Building or Remodeling? Barbee Jackson Insurance is here to help. Most construction projects, especially when financed by a bank, require builders risk insurance. The policy is designed to provide coverage for the structure during the course of construction or remodeling. Not only does it provide coverage for the structure, but also for property in transit against theft or loss. Whether you’re a seasoned builder or a first-time builder, Barbee Jackson Insurance is here to help. Our expert team will design a policy that fits your needs and find you the best price. Call today to get started (850) 389-2001
There are five (5) main factors that drive premium for both new construction and remodeling.
Location – Where you decide to build/remodel will have impact on premium. Why? The main reason why is weather and natural disaster related losses. If you are building in an area that has a higher chance of fire loss, the insurance carrier will rate the risk higher on premiums.
Construction Type – Homes that are block or concrete construction are deemed to be of higher quality than frame home. These higher quality homes can withstand natural disasters better than the more common frame-built homes.
Project Type – Pricing is dependent on the type of project, new construction or remodeling. Remodeling tends to be rated higher than new construction. Why? Moving of load-bearing walls or electrical updates pose a higher chance of loss to the insurance company.
Optional Coverages – All builders risk policies are customizable to your specific needs. You can add coverages such as:
Fees and Taxes – Not all insurance companies are licensed on an admitted basis in every state. When they are not, they are referred to has a non-admitted carrier and are subject to additional fees and taxes.
Premise Liability is a separate policy that can be purchased in conjunction with your builders’ risk policy. It is designed to protect owners from exposures such as a slip and fall on premise during the course of construction. Should someone sustain an injury that the owner is found at-fault, the insurance company will pay direct damage for medical aid to the injured person and legal fees.
Builders Risk Insurance is a highly specialized product and our agents are experts in finding the right coverage at the best price. With clients nationwide, our team will guide you through the process and get your started on your project. Call today to speak with one of our licensed agents (850) 389-2001