| | Market Spotlight
May 11, 2022 |
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Market Spotlight: Contractors Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability. Builder confidence in the market for newly built single-family homes moved two points lower to 77 in April from 75 in March, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the fourth straight month that builder sentiment has declined. However, commercial and institutional construction planning and momentum is up. The Dodge Momentum Index (DMI) moved up 6% in April to 164.8, up from 155.0 in March. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning. Contractors continue to face a number of challenges in today's changing market, including a shortage of skilled labor, supply shortfalls, higher costs and tighter margins. |
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| Instant Pricing Indications Available! Recent Placements: Cabinetry- $1M for $750, Blind/Shade Installation- $2M for $2,000, Air Conditioning Contractor- $3M for $7,000, Safe Company- $4M for $5,000, Cleaning Service- $5M for $6,000. States: All states except NY Offered by: UmbrellaPro by Great Point Insurance |
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| Renewal pricing continues to affect many Contractor General Liability accounts - and BTIS can help! Online bind is now available with our exclusive contractor general liability programs. This new document upload technology provides an INSTANT price indication, so you can remarket CGL accounts without data entry. States: All states Offered by: BTIS (Builders & Tradesmen's Insurance Services, Inc.) |
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| For a contractor in any field of expertise, it is important that they are aware of all the potential pitfalls that can occur on the job, and how the right insurance can protect from any unforeseen complications down the line. Don't put all of that hard work at risk! States: Nationwide footprint with focus on AK, AZ, CA, HI, NV, OR, WA Offered by: M.J. Hall and Company, Inc. |
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| Atlas underwrites contractors general liability for small to medium sized businesses in all 50 states. Qualifications: $500 minimum premium; Commercial & residential; Homebuilders; Paper GC's eligible (100% subcontracted); New ventures eligible. Check out our website for more information about Atlas. States: All states Offered by: Atlas General Insurance Services |
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| SIS Insure offers Exclusive General Liability programs for 57+ contractor classes, including Roofers and General Contractors. Quote and bind on our Online MGA platform and experience quick and easy advanced technology, backed by our excellent underwriting and agency support. States: All states Offered by: SIS Wholesale Insurance Services |
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| Quote-Bind in Minutes | Easy-to-Add Bundle Features | Free E-Sign | Agency Branded Apps |
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| I'm looking for a market taht would consider writing auto insurance for Vintage vehicles. The vehicles are being used to provide tours in famous parks in NYC. by Tfriedman on Tue May 3, 2022 I need a market to insure a water truck that is leased long term in California by wetryharder on Fri Apr 29, 2022 I am looking for a mono-line property market for medical spas and cryotherapy centers. We write a good amount business. Thanks! by calco55 on Sun May 1, 2022 Looking for a market for an electric car charging station. Any ideas? by Shirlee on Thu May 5, 2022 I am looking for a program/market to place 2 - 6 family frame dwellings in NJ. Guard has increased their rate significantly & many Lloyd's programs have been discontinued. by Gitty on Mon May 2, 2022 |
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