Smart Insurance Operations for MGAs, Wholesalers & Carriers Schedule Demo

Builders Risk Rating

Modern Builders Risk Rating for Construction Insurance Programs

Request Demo

Builders Risk insurance is one of the most specialized commercial insurance products. Every construction project presents unique exposures based on project type, construction value, occupancy, location, duration, materials, and coverage requirements. SelectRate enables insurance organizations to configure, rate, test, govern, and deploy Builders Risk insurance products from one centralized commercial insurance rating platform. Whether you're writing residential builders, commercial construction, renovations, habitational projects, or large commercial developments, SelectRate provides the flexibility required for modern construction insurance.

What Is Builders Risk Rating?

Builders Risk Rating calculates premiums for construction projects based on project characteristics, construction value, underwriting rules, geographic risk, carrier pricing, and policy options.

Premium calculations typically evaluate:

Every variable contributes to the final premium.

Built for Builders Risk Insurance

SelectRate supports virtually every Builders Risk program.

Including:

Each program maintains independent pricing while sharing one enterprise platform.

Project Information

Configure detailed construction project information.

Manage:

  • Project Name
  • Project Type
  • Construction Value
  • Project Address
  • Builder
  • General Contractor
  • Construction Start Date
  • Estimated Completion Date
  • Number of Stories
  • Square Footage

Project information automatically drives premium calculations.

Construction Characteristics

Builders Risk products evaluate construction details.

Configure:

  • Construction Type
  • Frame Type
  • Occupancy
  • Protection Class
  • Fire Protection
  • Security Measures
  • Roofing Material
  • Sprinkler Systems
  • Construction Phase
  • Existing Structure

Construction characteristics influence underwriting and pricing.

Project Valuation

Support multiple valuation methodologies.

Configure:

  • Completed Value
  • Hard Costs
  • Soft Costs
  • Materials
  • Labor
  • Equipment
  • Temporary Structures
  • Existing Structures

Coverage values are fully configurable by project.

Coverage Configuration

Configure Builders Risk coverages.

Supports:

  • Building
  • Materials
  • Temporary Structures
  • Soft Costs
  • Delay in Completion
  • Equipment
  • Debris Removal
  • Theft
  • Flood
  • Earthquake
  • Wind
  • Installation Floater

Each coverage maintains independent rating logic.

Underwriting Automation

Builders Risk underwriting rules are fully configurable.

Evaluate:

  • Project Size
  • Construction Type
  • Builder Experience
  • Occupancy
  • Catastrophe Exposure
  • Project Duration
  • Refer to Company
  • Judgment Rates

Underwriting decisions occur automatically during rating.

Premium Calculation

SelectRate performs complete Builders Risk premium calculations.

Evaluate:

  • Construction Value
  • Coverage Limits
  • Project Duration
  • Construction Factors
  • Geographic Factors
  • Carrier Pricing
  • Taxes
  • Fees
  • Final Premium

Every calculation is fully transparent through Rating Worksheets and Rating Trace.

Forms and Endorsements

Automatically assign Builders Risk documentation.

Supports:

  • Builders Risk Forms
  • State Forms
  • Carrier Forms
  • Installation Floater Forms
  • Endorsements
  • Supplemental Applications

Documentation remains synchronized with product versions. Learn more about Endorsement Management

Automated Testing

Every Builders Risk product should be validated before deployment.

Test:

  • Premium Calculations
  • Construction Scenarios
  • Formula Changes
  • Carrier Pricing
  • Underwriting Rules
  • API Responses

Automated testing reduces production risk and improves pricing accuracy.

API Integration

Expose Builders Risk rating through secure REST APIs.

Integrate with:

  • Agency Management Systems
  • Policy Administration Systems
  • Broker Portals
  • Customer Portals
  • Contractor Portals
  • Third Party Platforms

Every application uses the same centralized Builders Risk rating engine.

Geographic Rating

Construction projects vary significantly by location.

Evaluate:

Geographic variables automatically influence premium calculations. Learn more about Territory Management

Request Demo

Carrier Pricing

Every carrier maintains unique Builders Risk pricing.

Configure:

Carrier pricing remains configurable without changing core product logic. Learn more about Carrier Rate Multipliers, Carrier Rating Overrides

Effective Date Management

Construction projects frequently span multiple policy periods.

Manage:

Future product changes can be scheduled without disrupting active projects. Learn more about Effective Date Management

Enterprise Governance

Every Builders Risk product change is fully documented.

Track:

Organizations maintain complete governance across every construction insurance product.

Benefits of SelectRate for Builders Risk Rating

Insurance organizations modernize Builders Risk rating to improve operational efficiency.

Benefits include:

Related Resources

Modernize Builders Risk Rating

Configure construction insurance products, automate underwriting, simplify pricing, and deploy Builders Risk programs faster with SelectRate.

Request Demo

Frequently Asked Questions

Builders Risk Rating calculates insurance premiums for construction projects using project value, construction characteristics, location, coverage selections, carrier pricing, and underwriting rules.

Yes. SelectRate supports residential, commercial, industrial, infrastructure, renovation, and specialty construction programs.

Yes. Construction start date, estimated completion date, policy term, and project duration are all configurable rating variables.

Yes. Automated testing validates project scenarios, formulas, pricing, underwriting rules, and API responses before production deployment.

Yes. Builders Risk rating is available through secure REST APIs for agency management systems, policy administration systems, contractor portals, and third-party applications.