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Ineligible Risks

• Risks with more than 3 builders risk claims in the past 3 years.
• Risks with a loss ratio of more than 50% in the past 3 years.
• Risks being insured for the General Contractor.
• Risks where the project’s builder/contractor has been in business as a homebuilder or remodeler for less than 2 years or proposed builder/contractor has less than 2 years of experience as a construction manager or supervisor.

Underwriting Guidelines

The program provides Builder's Risk/Course of Construction coverages for Owner/Builders, Contractors & Developers building or remodeling residential Dwellings. Dwellings (1 to 4 family) are allowed in all protection classes (1 through 10) and in unprotected areas also. There is no maximum allowable exposure but some minimums that vary per state. All will be done on a case by case basis by your underwriter. Minimum premium varies by state.

Policies may be written for one year and extended coverage is available subject to additional underwriting review.

• Coastal properties - $500,000 Coverage A minimum, no maximum limits
• Non-Coastal properties - $300,000 Coverage A minimum, no maximum limits
• Idaho, Oregon & Washington - $200,000 Coverage A minimum, no maximum limits
• Extended Replacement available up to 150% of Coverage A
• Can write Primary, Secondary, Seasonal, Rentals or Builders Risk
• Earthquake Coverage or Exclusion is available – A minimum 5% deductible applies (State specific)
• $20,000 minimum for personal contents, no maximum limits
• $5,000 minimum for Additions & Alterations for condos, no maximum limits
• Can write Primary, Secondary, Seasonal or Rentals
• Primary Flood coverage included on all condo policies with unit located on 3rd floor or higher above ground level

Builders Risk

• Available for individual(s) only, not General Contractor as named insured or additional insured
• Once home is completed, can convert to standard homeowners with full limits
• Can add Builders Risk Liability and Theft of Building Materials endorsements
• Supplemental application required. Restrictions may apply to certain risks
• Premium is 100% earned

Vacant Dwellings

• $300,000 minimum limit, no maximum limits
• 3, 6 or 12 month terms on DP-1 or 3 Form
• For single family, multi-family or condos
• To be used for homes unoccupied and up for sale; unoccupied due to owner's death or unoccupied because owner has been relocated by employer
• Can include V&MM, Liability, Medical Payments, On-Premise Theft, Loss Assessment & Earthquake
• $500 minimum premium with 3-month term

Personal Articles Floater

• Any limits acceptable
• All classes of property available
• Rate is discounted if added to Lexington homeowners
• Worldwide coverage except for Fine Arts. Can add rider if property is on exhibit
• Credits for bank vaults, personal safe or safety deposit box

Excess Floater

• Coverage is excess over NFIP maximum limits of $250,000 on buildings; $100,000 on contents for preferred flood plans. No maximum limits.
• Any flood zone is eligible
• Can be stand-alone policy or added to homeowners at a discounted rate
• $750 Minimum Premium

Personal Umbrella

• $1,000,000 & higher; no maximum limits
• Can also write Excess Liability over existing personal umbrella policy
• Can write with jet skis, poor driving records, youthful operators, power boats and recreational vehicles
• Can be stand-alone or added to homeowners at a discounted rate
• Can add Personal Injury Protection and Uninsured Motorists by endorsement
• Can write “target” risks such as doctors, lawyers, professional athletes, musicians, politicians, or actors

Policies may be written for one year and extended coverage is available subject to additional underwriting review.

Rating Information

The rating information needed to develop a price indication is as follows:

• Project type (Is it New construction, Remodeling/Renovation with no existing structure coverage or Remodeling/Renovation with existing structure coverage).
• Must be a residential structure. (Commercial is available but not in this program. See Commercial Builders Risk).
• The state that the project is in.
• The protection class where the project is to be located.
• Whether the project is in a designated brush area or unincorporated area.
• The construction type of the project (i.e. wood frame, joisted masonry, non-combustible or better, log home or manufactured home)
• The value of the New construction or Remodeling/renovation, and, if the applicant wants the coverage, the value of the existing structure.

General Program Information

What we need to quote

• Agent should fax completed Lexington application to BTIS at 916.772.9292 for quote. Expected turnaround time is 24.36 hrs. Agent can also scan and email completed Lexington application to sbankert@btisinc.com
• To bind, agent should email or fax request to BTIS at 916.772.9292 indicating date you wish to bind with signed forms. Agent must collect full premium, no premium financing. Minimum 25% earned premium except builders risk is 100% earned (Backdating Not Permitted)

Deductible $500/$1,000/$2,500/$5,000 deductibles are available as options. Risk Canceled or Non-renewed by Company Please refer any risk that has been canceled or non-renewed to Builders & Tradesmen's Insurance Services prior to submission. We ask that full information regarding the reason for cancellation or non-renewal and the conditions or preventive steps taken by the applicant be provided. Audit Basis Inland Marine premiums and exposures are not subject to final audit but an inspection will be made after a policy is bound. Payment Options Full annual premium - The producer may withhold commission and remit net payment in full. Certificates of Insurance Evidence of insurance can be provided by the agent. AI forms available Mortgagee, Assignees or Receiver - Form CG2018 (11/85)

Frequently Asked Questions

How do I find out more? Use our live support for an immediate response or call your CSR or Underwriter at 916.772.9200. How do I get a Quote? The online price indication process is by far the quickest way to get a price, but if your account falls outside of the parameters of the online process, and usually to use this program it will be, you will be informed that the risk must first be submitted to your underwriter for review and subject to approval before coverage can be bound. This program is for the unusual and will most likely need a supplemental application. How do I get a renewal quote? Our Builders Risk programs do not give automatic renewals. You can request an "EXTENSION" online by creating a submission online and submitting it to your Underwriter. Can BTIS finance this for me? No, premium is to be paid in full and is fully earned (with the exception of NM policies) If I am having system problems, what do I do? Use our live support for an immediate response or call your CSR or Underwriter at 916.772.9200.