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This successful customized risk management program for residential builders combines traditional tort liability protection of contractor general liability insurance coverage with the proactive tool of an express limited warranty.
We work with our agency-partners to educate the builder to the benefits of Protection Plus. We identify both the known and unknown risks a builder may face and direct steps toward reducing these risks to the builder and their legal counsel. Protection Plus includes direction on how to properly contract with the homeowner/customer as well as properly establish solid sub contractor agreements to reduce the potential risks related to construction defect litigation.
- Reduce Potential Coverage Gaps
- Define Warranty Terms/Conditions
- Outline Dispute Procedures
- Detour Litigation
Traditional Insurance Protection - Contractor General Liability Highlights:
- A(8) Admitted Paper
- Coverage Limits - $2,000,000/$4,000,000
- Residential Construction Classes - Single Family; Townhome
- Select Commercial and Remodeler Risks Available
- Production Builders 500+ units
- Three-Tier Pricing Platform
- Builder (Insured) Defense for Subcontracted Work (Completed Operations)
- Flexible Pay Plans
- Optional and Extended Coverages Available
Proactive Risk Management - Bonded Builders Classic (Core) Warranty Highlights:
- Provides Builder with a Proven Express Written Warranty Contract
- Sets Construction Standards/Expectations for Builders and Homeowner
- Establishes Highly Effective Process for Resolving Disputes
Bonded Builders Insurance Services provides direction on how your home builder, remodeler and/or specialty contractor clients can disclaim implied warranties and implement tools and solutions to assist in resolving disputes in an effort to minimize adverse financial impacts. Educating a home builder to solutions on resolving disputes effectively and efficiently can not only result in significant savings, but can also protect the builder’s brand and reputation.
Bonded Builders Insurance Services can implement and manage self-insured warranty contracts for residential builders and remodelers. In addition, Bonded Builders Insurance Services supports third-party insured warranty programs through its affiliate partner, Bonded Builders Warranty Group.
The description of insurance products, warranty documents and risk services do not include all terms, exclusions and conditions in the policy and/or document and is not intended to be relied upon by potential insureds and/or builder-members. Please contact BBIS or your insurance agent for a complete description of the scope and limitations of coverage/service.
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