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Articles tagged with builder liability
Construction insurance premiums may triple by 2025 due to escalating material costs, climate events, and rigorous underwriting. Industry professionals must adopt proactive risk management, optimized coverage, and clear documentation to sustain profitability and project momentum.
An 85% increase in defect insurance costs challenges builders due to higher claims, regulatory changes, and weather-related risks. This development strains profit margins yet fosters innovation through enhanced risk management, thorough documentation, and proactive quality measures. Builders who adapt can convert this obstacle into a strategic edge.
Builder warranty claims have surged 200 percent, driven by labor shortages, rushed timelines, and material substitutions. Homeowners increasingly report defects like structural cracks and system failures, pushing builders to emphasize thorough inspections and clear communication to minimize risks and enhance satisfaction.