Coastal Builders Risk Insurance

Overview of the Program

The Coastal Builders Risk Insurance program from Maritime Program Group (MPG) provides flexible, short- and long-term builders risk solutions for projects exposed to coastal perils—wind, storm surge, tidal impacts, and flood-related exposures. MPG issues policies directly through its managing general agency platform, with options for builder or homeowner named insureds, pro-rata policies, and extensions beyond 12 months when required.

Ideal Accounts and Appetite

• New coastal residential and light-commercial construction projects
• Renovations and reconstruction of beachfront homes, condos, and small commercial properties
• Spec homes, custom builds, and remodels where builders or homeowners need short-term coverage
• Projects where active loss prevention, elevation details, and storm-mitigation measures are documented

Typical fits are mid-size to smaller projects that require quick turnaround, flexible policy terms, and direct underwriting. Accounts with extensive or unusual marine exposures (offshore platforms, pile driving over navigable waters, long-term industrial coastal development) may require special review or may be outside the program’s appetite.

Coverage Highlights and Advantages

• Short-term policies with easy extensions and pro-rata options
• Builder or homeowner can be named insured
• Low minimum premiums for many classes (see underwriting notes)
• Monthly reporting with deposit premium available for qualifying accounts
• Policies and endorsements issued directly by MPG to speed placements
• Direct or agency billing; competitive commission schedules
• Industry-specific loss prevention tools and hands-on underwriting guidance

Underwriting Notes and Minimum Premiums

Underwriting decisions focus on project details: construction type, value at risk, site elevation, flood zone, wind exposure, work timeline, and mitigation measures. MPG’s underwriters will typically request sketches, scoping documents, schedules, and loss-control plans for projects in high-exposure areas.

Minimum premium guidance in current program materials includes examples such as $250 on new construction and $500 on renovations, though actual minimums and final terms vary by state and carrier. Instant quotes are available via phone for many standard risks; complex or higher-value accounts will require submission and supporting documentation.

Territories and Availability

Available nationwide through Maritime Program Group’s MGA platform. States serviced include: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Carrier placement and admitted status vary by state and account.

Why Work With Maritime Program Group on This Business

• Access to in-house underwriters with practical trades and coastal experience
• Direct policy issuance and proactive communication to help close business faster
• Flexible billing and policy term structures to match construction schedules
• Loss prevention resources tailored to coastal exposures
• Dedicated MGA service model that supports agents with quick quotes and underwriting feedback

Example accounts that fit well

You might have a client building a custom beachfront home that needs a six- to nine-month builders risk policy with monthly reporting and pro-rata extension options. Or an agent with a homeowner renovating a coastal condo who requires a short-term renovation policy with a low minimum premium and straightforward issuance—both are good fits for MPG’s program.

Frequently Asked Questions

Need help placing an account? Connect with a market specialist.