Overview of the Program from Veracity Insurance Solutions, LLC
Veracity Insurance Solutions' Home Builders Liability Insurance program is a focused market for agents placing residential construction risks. The program is built for general contractors and residential builders who need a package of liability and related coverages tailored for home construction and renovation work. As a Managing General Agency and Excess & Surplus Lines broker with access to multiple carriers, Veracity combines specialized underwriting with broader market options to place accounts that can be difficult to place in standard markets.
Ideal Accounts and Appetite
- Primary focus: general contractors and builders whose main operations are new home construction and residential renovations.
- Target account size: small to mid-sized builders and remodelers—owner-operated contractors to firms with several crews.
- Preferred operations: single-family and multi-family residential construction, residential additions, kitchen/bath remodels, and limited specialty trades when part of a builder’s controlled operation.
- Typical risks accepted: accounts with documented safety programs, properly licensed operations where applicable, and reasonable subcontractor controls.
- What often does not fit: large commercial construction, heavy civil work, speculative developments without contractor oversight, or accounts with repeated serious losses—these may need a different market.
Coverage Highlights and Advantages
The Home Builders Liability program offers a suite of coverages commonly required by residential contractors and their clients:
- General Liability tailored for construction exposures
- Professional Liability (design/build exposures and defective workmanship allegations)
- Pollution Liability for typical construction-related pollution exposures
- Business Owners Policies (BOP) for smaller builders
- Property and Inland Marine for tools, equipment, and materials in transit
- Errors & Omissions and Directors & Officers where appropriate
Because Veracity works with multiple carriers, agents can often secure combinations of admitted and non-admitted placements depending on the client’s risk profile and state requirements. The program is designed to be flexible so agents can assemble the coverages a builder needs without piecing policies from unrelated markets.
Underwriting Notes and Minimum Premiums
Underwriting focuses on operations, project types, payroll and subcontractor use, prior loss history, and risk management practices. Minimum premium requirements vary by carrier and state; the program lists "varies" for minimum premium, so expect differences by market. When submitting, include loss runs, a description of typical projects, current certificates of insurance, and details on subcontractor hiring and oversight to expedite evaluation.
Territories and Availability
This program is available in the following states: AR, GA, ID, KS, KY, MD, MO, MT, NE, NM, NC, ND, OR, SC, SD, TN, UT, VA, WY. If you have a client outside these states, Veracity has other contractor programs that may be available nationwide—ask about alternate markets and solutions.
Why Work with Veracity Insurance Solutions, LLC on Home Builders Business
- MGA and E&S broker capabilities provide access to multiple admitted and surplus markets.
- Specialized focus on residential contractors means underwriting and coverage options that align with builder exposures.
- Ability to package liability, professional, pollution, property, and ancillary coverages for a single, coordinated placement.
- Suitable for agents who need markets that will consider harder-to-place residential construction risks.
Example Account Scenarios
- You might have a small homebuilder who constructs 8–12 single-family homes per year and needs GL, inland marine for equipment, and pollution liability—this program can combine those coverages through appropriate carriers.
- Or you might be placing a residential remodel contractor who performs kitchen and bath remodels and needs General Liability plus Professional Liability for design/build work; Veracity can evaluate that account across its panel.
Frequently Asked Questions
What types of accounts are a good fit for this Home Builders Liability program?
The program is aimed at residential contractors: new home builders, remodelers, and general contractors whose primary work is on single-family and multi-family homes. Small to mid-sized builders with controlled subcontractor practices and documented safety programs are ideal.
What information should I include when submitting a prospect?
Provide a description of operations, gross receipts or projected sales, payroll by class, loss runs (typically 3–5 years), details on subcontractor controls and licensing, and any current policies or certificates. The more complete the submission, the quicker underwriting can evaluate appropriate markets.
Are policies written admitted or non-admitted?
Veracity places business through multiple carriers and both admitted and non-admitted markets as appropriate. Availability depends on state rules and the specific risk—underwriters will recommend the best option for the account.
What are the minimum premiums for this program?
Minimum premiums vary by carrier, state, and coverage package. The program’s minimum premium is noted as "varies." Underwriters will confirm minimums on a per-submission basis during the quoting process.
Need help placing an account? Connect with a market specialist.