Builders shape a city and ultimately a community. Renovating an unused building into condos and retail have modernized many communities around Texas. Our hot real estate markets are attracting new construction developers, general contractors and building managers that are shaping skylines across the state. Let’s not forget residential builders that have constructed millions of new homes to meet high demand in Austin, Dallas, Houston, San Antonio and many smaller communities.
According to the Texas Association of Builders, 509,900 individuals are involved in the building trade, driving $38.6 billion to the Texas economy. With a high amount of revenue and investment into real estate, there are real risks and builders need protection.
Whether you run a large construction operation or maintain a small crew of a couple of subcontractors, protect your team, building and equipment. Hettler Insurance Agency is a commercial broker and sells builder’s insurance from multiple carriers.
Builder’s Risk policies are designed for the type of property. A builder of residential homes might require lower limits compared to a commercial office developer. It all depends on what market the builder chooses to serve; million dollar mansions or affordable starter homes.
Finally, Builder’s Risk policies or course of construction insurance can be purchased a couple of different ways. It’s very important that coverage starts before or simultaneously with the start of the project. Coverage can be purchased for a set time (3 months, 6 months, or 1 year) or with continuous coverage that requires monthly reporting. Some policy premiums are fully earned while others can be cancelled upon project completion with reimbursement of an unearned premium.
With a good Builder’s Risk policy, the structure, materials and equipment are protected from theft, vandalism and weather damage during the construction phase. Working with HIA, we can help estimate the value of your projects and loss amount. Carrying the right amount of builder’s insurance is likely required by your lender, developer, home owner, and city departments.
Custom Policies Available:
• Builder’s Risk: Commercial & Residential
• Vacant Buildings
• Workers’ Compensation
• General Liability
Commercial:
• Lessor’s Risk
• Office Buildings
• Warehouses
Residential:
• Apartment Buildings
• Condos
• Dwelling Schedules
• Townhouses
High Limits:
• Offices
• Restaurants
• Shopping Centers
• Warehouses
Hettler Insurance Agency
Ron Hettler
4432 S Loop 289
Lubbock, TX 79414
