Home Builders Insurance

Minnesota Home Builders Insurance

Are you searching for home builders insurance in Minnesota?  Your search has ended.

Home Builders Insurance – As a home builder in Minnesota, you need good new home construction insurance. Requesting a general liability insurance quote for your home building and development company from us is an excellent start.

You work so hard each day to build your contracting business. Some people would refer to you as a paper contractor by building homes and developing land. Don’t take the risk of not having coverage or not having the proper coverage.

Our experienced professionals speak contractors insurance! Minnesota contractors insurance is what we do. What are you good well?

The home-building market is coming back here in Minnesota. We insure contractors all over the state—Minneapolis to Rochester and Lakeville to Duluth. Please do yourself a favor and contact us today.

Our goal is to help home builders find affordable coverage. We do 100’s of certificates for the Minnesota Department of Labor and Industry each year. Can we do yours?

We quote multiple new home builder insurance companies to find you the best rate and the proper coverage. Please provide your information once, let us shop for you. For Minnesota home builders insurance, make us the first and your last call, 952-469-0425.

General Liability Insurance for Home Builders

Minnesota home builder insurance is general liability insurance and is the core policy for Minnesota home builders. General contractors, papers contractors, and home builders buy this policy first.

What does general liability insurance cover? General liability / public liability insurance covers bodily injury and property damage claims. Minnesota house builder’s insurance protects your premises, product, operations, and completed operations.

Often MN insurance companies will include a $1,000 property damage deductible. Please consider the property damage deductible when picking the best insurance for your contracting business.

Common limits of liability coverage are $1,000,000/$2,000,000. The $1,000,000 represents the per occurrence limit or claim. The $2,000,000 represents the aggregate limits or maximum per policy term limit for all claims presented.

You must understand the basics here because you should have a contract with a hold harmless agreement and insurance requirements with your sub-contractors. Ask us for some examples; we would be happy to share.

Rates for General liability insurance are derived using gross sales, owner payroll, employee payroll, sub-contractor labor costs, and materials in some cases.

Minnesota home building contractors often need builders’ risk insurance for renovations or their building properties until sold.

Securing and matching insurance policies for home builders & construction companies is a fine art.  We enjoy working with residential builders like you every day and can find you insurance for homes under construction.

Why don’t you take the next step and ask a question? Would you please request a Minnesota General Contractors Insurance quote today? You might be delightfully surprised when you call 952-469-0425.

My General Contractor is Looking for Proof of Insurance

Many times a general contractor will be asking for a certificate of insurance so you can work and get paid.

They are just looking for general liability insurance / public liability insurance fifty percent of the time. Sometimes the general contractor is also looking for additional insured status.

What they should be asking for is workers’ compensation insurance too.

Less common are requirements like a commercial umbrella and commercial auto insurance.  Proof should also be obtained for these things too.  

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Minnesota Home Builders Insurance, Home Builders Insurance MN, Home Builders Insurance Cost & Home Builders Insurance Quotes MN.

Contact Us for Quote 

It would be best if you had homebuilders insurance for your business. Tell us about your contracting business; we are listening. We are ready to discuss your insurance needs.

Do yourself a favor and call 952-469-0425 right now or use the quick quote form on this page. Request your MN home builders insurance quote now. You will be happy you did!

Home Builders Insurance Coverage Frequently Asked Questions (FAQs)

Q- What insurances are required for a builder?

Ans:- Licensed builders and contractors in Minnesota need to have general liability insurance. The Department of Labor and Industry (DOLI) requires you to have a minimum of $300,000 of coverage per occurrence and include $10,000 or more in property damage coverage.

Q- How much does builder insurance cost?

Ans:- It can vary greatly depending on the project. A one-person operation typically starts at $831.00 per year for a $1,000,000 per occurrence limit.

Q- What does a builder’s insurance cover?

Ans:- Builder’s insurance is general liability insurance, commonly called public liability insurance. General liability covers bodily injury and property damage coverage from third parties.

Q- Does home insurance cover builder defects?

Ans:- Generally speaking, the answer is no.  Exclusions and language built into homeowner’s insurance policies or property insurance usually address construction defects, and the homeowner’s insurance policy does not cover the damage from faulty workmanship.

Q- What happens if a builder does not have insurance?

Ans:- Builders and contractors should be insured insurance.  However, things can happen where their insurance policy may not have gotten paid, or perhaps they were non-renewed.

A careful choice should be made in the beginning when choosing a contractor.  Many people start with friends that have done similar projects.

Next might be to check up on their license with The State of Minnesota. You want to make sure it is valid and if there have been any enforcement actions taken against them.

The Better Business Bureau (BBB) can also reveal problems or complaints. Check their references and look at their work on other homes.

If the builder or contractor does not have insurance, you might end up losing money due to damage or missing materials.  Plus, the disputes may land you in a court battle.

Q- Who should buy builders’ risk insurance?

Ans:- The property owner should be the one to buy the builder’s risk insurance policy. However, the general contractor or home builder can also purchase it, depending on the contract in place.

Builder’s risk policies do not provide liability coverage, and the property owners should also have general liability insurance that extends to the location.