Bankers’ Builders Risk
Single Shot Program

We’re confident that our Bankers’ Builders Risk Single Shot Program can provide the best value to your clients.

*This quote is only for demonstration purposes. The quote is an example of what a Builders Risk insurance policy may cost when purchased through Bankers Insurance Company. It is not an offer of insurance and does not create a contract of insurance. Premium quotes shown assume property Protection class 1 to 8, wind coverage and no earthquake coverage on the policy. Actual premiums for policies issued by Bankers Insurance Company may vary based on coverage selection and underwriting criteria for individual risks and are subject to eligibility requirements.
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Key benefits of our program:

  • Rates up to 20% below competitors.
  • Flexible Terms: New Business (3, 6, 9, 12, 18), Extensions (1, 2, 3, 6, 12). Not to exceed 24 months.
  • Insures up to $10 million per job site. Covers the remodeling, renovation or new construction of “ground up” type residential and light commercial projects up to three stories.

Flexible terms can bring significant savings. Why pay for insurance that won’t be needed?

Save your clients money, and you’ll earn their gratitude and repeat business.

BUILDERS RISK SINGLE SHOT PROGRAM OVERVIEW

Builders Risk insurance is coverage that protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.

Features and Benefits:

  • Rates up to 20% below competitors
  • Prorate on single shots ($400 minimum premium retained)
  • Multiple deductible options
  • Minimal referrals
  • Theft and vandalism coverage
  • 100% coinsurance with replacement cost evaluation

Building and Structure in the Course of Construction are Limited to:

  1. Materials and supplies that will become a permanent part of the building and structure:
  2. Foundations, excavations, grading, filling, attachments, permanent fencing, and other permanent fixtures;
  3. Scaffolding, construction forms or temporary fencing at the “jobsite”; and
  4. Temporary structures at the “jobsite”

Optional Coverages:

  • Earthquake
  • Existing Structure – can be included when renovation is valued at 50% or more of existing structure for ACV coverage
  • Windstorm or Hail – offered when ½ mile from Gulf or Ocean (agents are responsible for validation of the distance)

Eligibility:

  • Ground Up Construction Types, New, Remodel or Renovation Project
  • Residential (1-4 unit dwellings) or Commercial
  • 1-3 Stories (higher stories available with approval)
  • Single Building limit up to $10,000,000
  • Property must be unoccupied for coverage to apply
  • 1 Building per policy

Coverage Availability:

The Builders Risk Single Shot Program is available in these states:

United States map with highlighted states in green where bankers coverage availability
Supplemental Coverage Limits
Expediting Expenses $10,000
Construction Forms, Scaffolding and Temporary Structure Included
Expense to Re-Erect Scaffolding $5,000
Fire Department Service Charges $1,000
Ordinance or Law (Undamaged Parts of Building) Included up to building limit
Ordinance of Law (Increased Cost to Repair and Cost to Demolish/Clear Site) $50,000
Foundations $10,000
Personal Property $10,000
Pollution Cleanup and Removal $25,000
Rewards $1,000
Sewer Backup Coverage $10,000
Temporary Storage Location $10,000
In Transit $10,000
Trees, Shrubs and Plants $10,000
Coverage Extension Limits
Additional Debris Removal Expenses $5,000
Emergency Removal 10 Days
Emergency Removal Expense $10,000
Fraud and Deceit $50,000
Limited Fungus Coverage $15,000
Soft Cost Endorsement $50,000
Waterborne Property $10,000
Optional Coverage Limits
Earthquake Included up to building limit
Existing Structure - can be included when renovation is valued at 50% or more of the existing structure for ACV coverage Building limit breakdown shown on application
Windstorm or Hail - when over 1/2 mile to Gulf or Ocean Included up to building limit
Maximum Coverage Limits
Course of Construction Limit for any single structure Up to $10M per risk (subject to underwriting approval and pricing)
Deductible Options Limits
AOP Deductible $1,000; $2,500 $5,000; $10,000
Earthquake Deductible 5%
Wind Deductible Percentage Options: 1%; 2%; 5%
Flat Options: $1,000; $2,500; $5,000; $10,000;
Fraud and Deceit $50,000
Limited Fungus Coverage $15,000
Soft Cost Endorsement $50,000
Waterborne Property $10,000
Flat wind deductible not available on values $1M or more in TX Territory 2 (Coastal Counties) and TX Territory 5. Counties: Dallas, Collin, Denton, Rockwall, Ellis, Kaufman, Hunt, Tarrant Parker, Johnson, Wise, Hood, Somervell
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We’re confident that our Bankers’ Builders Risk Single Shot Program can provide the best value to your clients.

Become an Agent

All policies are subject to underwriting approval. Offerings may not be available in all states. Terms and conditions of policies apply Guidelines are subject to change by territory or state.