Overview
Builders Mutual Insurance Company, founded in 1907, is a leading provider of insurance solutions tailored to the construction industry. Headquartered in Raleigh, North Carolina, the company has a rich history of serving contractors, builders, and other professionals within the construction sector.
With a mission to protect and empower the construction community, Builders Mutual prioritizes financial stability and customer satisfaction. The company’s vision is to be the most trusted and respected insurance provider in the industry, delivering exceptional coverage and unparalleled service to its policyholders.
Products and Services
Builders Mutual Insurance Company offers a comprehensive suite of insurance products tailored to meet the unique needs of the construction industry. Our products provide financial protection against a wide range of risks, ensuring that your projects are completed on time, within budget, and without unexpected disruptions.
We understand that every construction project is different, which is why we offer a variety of coverage options and benefits to customize your insurance policy. Our underwriting process is designed to assess your specific risks and provide you with the coverage you need at a competitive price.
Commercial Property Insurance
- Provides coverage for your buildings, equipment, inventory, and other property from damage or loss due to fire, theft, vandalism, and other covered perils.
- Can be customized to include coverage for business interruption, extra expenses, and other financial losses.
Commercial General Liability Insurance
- Protects your business from lawsuits alleging bodily injury, property damage, or other damages caused by your operations or products.
- Coverage options include premises liability, product liability, and completed operations liability.
Builders Risk Insurance
- Provides coverage for your construction project from damage or loss during the course of construction.
- Can be customized to include coverage for materials, equipment, and labor costs.
Workers’ Compensation Insurance
- Provides coverage for your employees in the event of work-related injuries or illnesses.
- Coverage includes medical expenses, lost wages, and disability benefits.
Surety Bonds
- Provides a guarantee to a third party that you will fulfill your contractual obligations.
- Can be used to secure bid bonds, performance bonds, and payment bonds.
Risk Management Services
In addition to our insurance products, we also offer a range of risk management services to help you identify, assess, and mitigate risks.
- Our team of experienced risk management professionals can help you develop a comprehensive risk management plan.
- We can also provide training and resources to help you implement your plan and reduce your risk exposure.
Target Market
Builders Mutual Insurance Company’s products are tailored to meet the specific needs of the construction industry. The company’s target market includes:
- Contractors
- Builders
- Developers
- Subcontractors
- Architects
- Engineers
These businesses range in size from small, family-owned operations to large, national corporations. Builders Mutual Insurance Company also serves a variety of industries within the construction sector, including:
- Residential construction
- Commercial construction
- Industrial construction
- Infrastructure construction
Marketing Strategies and Distribution Channels
Builders Mutual Insurance Company uses a variety of marketing strategies to reach its target market, including:
- Direct mail
- Email marketing
- Social media
- Trade shows
- Networking events
The company also partners with a network of independent agents and brokers to distribute its products.
Claims Handling
Builders Mutual Insurance Company is dedicated to providing its customers with exceptional claims handling services. Our experienced team of claims professionals is committed to guiding you through the claims process efficiently and empathetically. We understand that filing a claim can be stressful, and we strive to make the experience as smooth and seamless as possible.
Efficient Claims Process
Our streamlined claims process is designed to minimize the time and effort required to file and settle your claim. You can initiate the process online, over the phone, or through your local agent. Once we receive your claim, a dedicated claims adjuster will be assigned to assist you. They will thoroughly investigate your claim, gather necessary documentation, and work diligently to provide a fair and timely settlement.
Financial Stability
Builders Mutual Insurance Company boasts a solid financial foundation, ensuring its ability to fulfill its obligations to policyholders. With a robust balance sheet, the company has consistently maintained a strong surplus, demonstrating its financial resilience.
The company’s assets exceed its liabilities, providing a substantial cushion to cover potential claims and expenses. Its investment portfolio is well-diversified, mitigating risks and ensuring stable returns. Builders Mutual also adheres to stringent risk management practices, including underwriting guidelines, reinsurance arrangements, and catastrophe modeling.
Regulatory Compliance
Builders Mutual Insurance Company operates in strict compliance with regulatory requirements, ensuring transparency and accountability. It undergoes regular financial examinations and audits by independent regulatory authorities, demonstrating its commitment to ethical and responsible business practices.
Industry Reputation
Builders Mutual Insurance Company has garnered a solid reputation within the insurance industry. Independent industry analysts consistently rank the company highly for its financial stability, claims handling efficiency, and customer satisfaction. Customer reviews on reputable platforms like Trustpilot and Google My Business overwhelmingly praise the company’s responsiveness, professionalism, and fair claim settlements.
Awards and Recognitions
Builders Mutual has received numerous awards and recognitions for its excellence in the insurance sector. These include:
- Five-Star Rating from A.M. Best for financial stability and claims-paying ability
- Top 100 Insurance Companies in the United States by National Underwriter
- Excellence in Customer Service Award from J.D. Power and Associates
