Industry: Home Builder

Challenge: Struggling to secure coverage for a high-value project in a high-risk area.

Key Takeaway: Hotchkiss Insurance agents leveraged industry relationships and expertise to successfully bind a policy for these builders.

In recent years, high-risk areas across the country have been grappling with the increasing difficulty of finding insurance coverage. The primary reason for this is the growing number of carriers withdrawing their services from these regions due to elevated risks. This trend has left many property owners and builders facing significant challenges. However, Hotchkiss Insurance has proven itself an indispensable ally in navigating this complex insurance landscape, ensuring that even the most challenging projects can secure the necessary coverage.

A prime example of Hotchkiss Insurance’s expertise is demonstrated by a recent case involving a homebuilder client in Southern California. This client was confronted with the challenge of obtaining builder’s risk insurance coverage for a high-value project in an area prone to wildfires. Local agents struggled to find a carrier willing to provide coverage due to these compounded risks. Leveraging our extensive network of carrier relationships and in-depth knowledge of unique regional risks, Hotchkiss Insurance was able to successfully bind a policy for the builder. This achievement underscores our critical role in securing insurance solutions where others fall short.

In another instance, a homebuyer faced significant obstacles in securing home insurance due to a previous water damage claim at their old residence, which occurred during one of the Texas freezes in 2021. High-net-worth personal lines carriers often want to see specific measures taken to prevent similar losses from occurring in the future. We advised the builder to install an automatic water shutoff valve and, if possible, a total house backup generator at the new location. This recommendation came from our experience in dealing with a multitude of high-net-worth carrier underwriters and understanding what they consider when reviewing risks. The builder took our advice and installed the automatic water shutoff device, enabling the buyer to secure the necessary coverage. Recognizing the value of this preventive measure, the builder has since adopted the practice of installing automatic water shutoff valves in all their new builds. This proactive approach not only facilitates easier insurance procurement but also significantly reduces the risk of future water damage claims.

These cases highlight the invaluable expertise and proactive strategies employed by Hotchkiss in high-risk insurance scenarios. Our ability to navigate complex challenges and provide tailored solutions ensures that our clients can proceed with confidence, even in the most high-risk environments. Whether dealing with fire-prone areas or addressing previous damage claims, Hotchkiss Insurance is dedicated to securing the protection you need. Let us help secure your future today.