As building material costs continue to rise, builders, developers, and general contractors are seeing higher expenses—not only in construction but also in insurance premiums. In this video, Mt Franklin Insurance explains how the increasing cost of materials and labor is affecting insurance rates for the construction industry. Learn how these changes are impacting your ability to secure affordable coverage and what steps you can take to protect your business.
What You’ll Learn:
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Why building material costs are driving up insurance premiums for builders, developers, and general contractors.
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How factors like supply chain disruptions, labor shortages, and inflation are influencing the construction insurance market.
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The relationship between replacement costs and insurance coverage, and why higher material prices are raising policy costs.
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How to manage rising premiums while ensuring your construction projects and business operations are adequately protected.
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Key tips for navigating the evolving construction insurance market, including exploring policy adjustments and risk management strategies.
Why This Matters:
The rising cost of building materials is putting financial pressure on the construction industry, and insurance companies are adjusting their rates accordingly. Whether you’re a small contractor or a large developer, understanding these changes is crucial to managing your costs and maintaining the right coverage for your projects. Mt Franklin Insurance is here to help you understand the factors influencing your premiums and find the best insurance solutions for your needs.
Get in Touch:
Concerned about rising insurance costs and their impact on your construction business? Contact Mt Franklin Insurance today for expert advice and customized insurance solutions that work for you. Click here to get a quote.
