No matter how large or small your construction or renovation project, your project’s success starts with a strong builders risk insurance program. Morris & Reynolds Insurance is a leading architect of these types of property programs for commercial and residential structures. From custom homebuilders to commercial contractors, we offer course of construction insurance solutions from the world’s leading insurers that can provide the unique coverage builders need at the lowest costs available anywhere.

BUILDER’S RISK INSURANCE BASICS

Builder’s Risk Insurance is property insurance designed to cover a structure while under construction. The amount of coverage you carry is based a limit of insurance that must accurately reflect the total completed value of the structure including all materials and labor costs, but not including land value. Builder’s Risk insurance policies can often be written in terms of three-months, six-months, or 12-months or longer. If the project is not completed by the end of the initial policy term, it can typically be extended for an addition period of time.

EXPOSURES & ASSETS COMMONLY COVERED OR AVAILABLE FOR BUILDER’S RISK COVERAGE

A builder’s risk policy can cover a range of construction oriented exposures including; Building materials owned by contractor and others, Cribbing, Construction signs, Debris removal and pollution cleanup, Falsework, Foundations, Paving, fencing and outdoor fixtures, Profit, Temporary structures such as scaffolding, Lawn, trees and plants installed by builder. Additional coverage is often optional available for tools & equipment, terrorism, blanket model home contents, defective workmanship, materials and design among other exposures.

WHAT DOES A BUILDER’S RISK POLICY TYPICALLY COVER?

A builders risk policy will typically provide coverage for damage to the insured structure from a variety of events known as perils including:

  • Collapse
  • Explosion
  • Fire
  • Hail
  • Lightening
  • Theft
  • Wind
  • Vandalism
  • Vehicles/Aircraft

In coastal states, depending on the location of the project and the insurers abilities as well as the owner and lender’s needs, Windstorm may or may not be included in the coverage or could be limited in some fashion. Depending on the insurer and your own needs, losses form Collapse claims may or may not be covered. As with all policies, it is important to read all of the proposed insurer’s terms, conditions and exclusions to fully understand the coverage being offered and know that our professional agent’s and underwriters will work to create the exact coverage you desire for each project.

WHAT MIGHT BE EXCLUDED?

  • Contract Penalty
  • Earthquake
  • Employee theft
  • Faulty design planning, workmanship and materials
  • Flood
  • Government Action
  • Mechanical Breakdown
  • Voluntary Parting
  • War
  • Water damage
  • Weather damage to property in the open
  • Wear, tear

Earthquake and flood coverage may often be purchased and added to coverage in many areas.

COMMON BUILDER’S RISK COVERAGE EXTENSIONS & OPTIONS

Common builder’s risk insurance coverage extensions include:

  • Property in transit (A coverage extension to protect your property from loss while being transported to the jobsite).
  • Scaffolding (Coverage is extended to apply to scaffolding, construction forms and temporary structures, but only while they are at a location you have reported).
  • Property in temporary storage (Property that will be used or installed in the secured location and pertaining to the insured company).
  • Fire department service charge (When the fire department is called to save or protect covered property from a covered cause of loss).
  • Debris removal (The builder’s risk insurance policy will pay your expenses to remove debris of covered property. This debris must result from a loss that is covered under this form).
  • Sewer and Drain Backup (Water damage from the back-up of sewers and drains is usually covered).
  • Valuable papers (site plans, blueprints, contracts and so forth).

A UNIQUE APPROACH TO BUSINESS INSURANCE

Business insurance is our business. When it comes to your coverage and the risks your enterprise and people face we treat your business as if it were our very own. At Morris & Reynolds we offer a unique, hands on, passionate relationship with our clients that in most cases last decades because of the reliable, results oriented, solutions we provide from year to year. Some of the benefits of our business insurance work for our clients include;

SUPERIOR MARKET KNOWLEDGE, RELATIONSHIPS & INSURER ACCESS

Morris & Reynolds represents and has access to the entire market of leading insurers for all of the risks our business insurance client face. Many of our relationships with major insurers span decades and in some cases date to the founding of our firm in the 1950’s. We also take pride in representing cutting edge and emerging insurers from around the globe to structure the coverage, limits and costs you need and deserve.

ALL FORMS OF INSURANCE, EMPLOYEE BENEFITS & RISK RELATED SERVICES

Our dedicated professional people are your consultants, problem solvers and partners. We help assess your needs, evaluate solutions and suggest alternatives for your organization. We build a high level of familiarity with your company so we can offer the insights that satisfy your changing risk-financing needs. Some of our products and services include:

  • Alternative Risk Financing, including Captives and Risk-Sharing Pools
  • Claims Management & Administration
  • General Property and Casualty Insurance
  • Group Health Insurance & Employee Benefit’s
  • Malpractice and Errors & Omissions
  • Pension & Retirement Plans
  • Professional Liability including Directors and Officers and Employment Practices
  • Risk Management & Loss Control Services
  • Workers Compensation and Employers Liability

AGGRESSIVE, TRANSPARENT, NEGOTIATIONS

Your protection, goals and bottom line are our sole focus. The coverage and costs that we negotiate, in fact all we do, is focused on your protection needs, goals and bottom line. We are known as aggressive negotiators who have our clients’ best interest at heart. Always.

We also enjoy serving our clients in the most transparent manner possible and are happy to discuss and disclose our compensation and answer your questions about that important topic with you. Morris & Reynolds is a truly independent insurance agency and has been since 1950. Our focus is never on stockholders, stock prices or an insurance company preference but our clients’ goals, dreams and desires. Always.

PEACE OF MIND

Insurance is more than a legal contract, it’s your peace of mind. At Morris & Reynolds Insurance we take your protection, and peace of mind, to heart in all we do from the coverage we structure, the insurers we suggest and the day to day service and care we provide to our clients. When you need us most, we will always be there.

VISION & INNOVATION

At Morris & Reynolds Insurance our clients receive the best of both worlds. We are well known for our ‘old fashioned, reliable and responsive service that dates to the founding of our agency in 1950. We are also known for employing cutting edge technology and offering the latest in coverage innovations and ideas to serve our clients’ ever evolving needs. Services such as The Protection Portal, Morris & Reynolds MyWave and the Morris & Reynolds Risk Management & Loss Prevention Services are just a few examples of our forward thinking approach to service.

AWARD WINNING, EDUCATED, PROFESSIONAL PEOPLE

Our Client Service Underwriters, Client Advocates and Professional Agents are deeply committed to their profession and career-long learning. Our award winning TEAM of professional people, the finest people in insurance, is unique to Morris & Reynolds Insurance. In order to offer our client’s the very finest results possible we constantly seek improvement by way of training, performance measurement and process reviews.

Our corporate office is an approved and certified testing site for the prestigious Insurance Institute of America and their curriculum is part of our ongoing TEAM educational efforts. Morris & Reynolds Insurance is proud of the awards that TEAM members have received from a variety of industry associations and insurers, including the Florida Agent of the Year, The National Agent of the Year and The Customer Service Representative of the Year Honors to name a few.

A UNIQUE APPROACH TO RISK REDUCTION

Every day we work to provide you with the very best coverage, care and solutions available. Our extensive range of professional services, designed to manage your risk and make you and your business more efficient, include:

ANNUAL UPDATING & RISK REVIEW

Businesses change and evolve. Because of this, Morris & Reynolds conducts annual audits of your coverage and the exposures, risks and facts that your insurance is based upon. Working many months in advance of your renewal, we ensure that the coverage and exposures are current so that your renewal will progress as your business does.

AUDIT ASSISTANCE

Coverage such as workers compensation and general liability are based on estimated exposures that are then audited by the insurer after the policy year ends. Our team of experts is available to assist in the preparation of your audit or even conduct the audit with the insurer for you, to save you time and money.

CLAIMS MANAGEMENT

We place an extreme emphasis on your claims. Morris & Reynolds employs licensed, professional insurance adjusters that manage your claims all year long with state of the art automation. Your assigned Claims Manager at Morris & Reynolds is your expert advocate, dedicated to resolving claims quickly and fairly. Whether it is a simple auto claim, a major fire, a devastating hurricane or a complex lawsuit, we will be right next to you doing our best to support you during what we know can be a traumatic time.

ROBUST, ANNUAL, MARKET RESEARCH & AGGRESSIVE NEGOTIATIONS

Morris & Reynolds represents hundreds of the world’s leading insurers, brokers, wholesalers, reinsurers and alternative risk related firms in the industry. As your agent, we aggressively seek solutions from all leading insurers in the marketplace and negotiate one insurer against another to arrange the best possible coverage and cost for you.

RISK MANAGEMENT & LOSS CONTROL

Protecting your business and bottom line through risk management and loss control can have a dramatic impact in lowering your insurance costs and risk related expenses. The risks that you face can come from a variety of sources including project failures, legal liabilities, natural disasters and even deliberate attacks. We proudly offer you best in class risk management and loss control that can help identify, control and manage the risks you face.

STEWARDSHIP & DEEP ANALYSIS

Success in reducing your risk and its associated costs are often found deep in the details of your coverage, claims and business. For this reason, Morris & Reynolds provides a range of detailed stewardship reports and analysis related to your coverage, options, performance, claims and other risk related metrics that are useful in constructing your Protection Plan and managing your risks.

MORRIS & REYNOLDS MYWAVE

Morris & Reynolds’ MyWave is a truly dynamic internet-based portal that delivers robust, time saving tools and information related to employee benefits, human resources and risk management. Simply log on to your customized homepage to find valuable detailed information as well as interactive postings.

Trusted Insurance

"Savings & Service Has Been Our Policy Since 1950"
14821 South Dixie Highway, Miami, Florida 33176
P 305.238.1000 | F 305.255.9643
E info@morrisandreynolds.com

Independent agent