When it comes to builders risk insurance and selecting a policy there is a lot of information you should know. First keep in mind that there are many different types of builders risk insurance for you to choose from. One of the easiest is called the blanket annual deposit.
With this policy you are basing your insurance on the estimated amount of new business for the year. You can also include the homes that will be in inventory more than twelve months. The insurance company will provide you a rate based on this information.
The cool part about this is that most construction insurance companies will allow you to pay them monthly for this type of policy. This has a direct benefit to a small company because it is not all due in a lump sum payment. Spreading the bill out allows you to collect money and pay your insurance payment every month. There is an audit with this type of service which means if you build more houses you will have to pay the insurance company more. However, for many builders this is still an awesome plan.
Important Information regarding Risk Insurance for Contractors
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