Author: McGriff Williams

Builders Risk Insurance: What It Covers and What It Doesn’t

Posted on by McGriff Williams in Blog |

Builders risk is one of the most misunderstood policies in the construction process. Many homeowners assume it’s a comprehensive policy that covers everything during a build. It isn’t. Builders risk is property insurance only, which does not include any liability. Knowing that distinction before you break ground could save you from serious financial challenges.

What exactly does Builders Risk cover?

Builders risk — also called course of construction insurance — protects the physical structure, materials on-site, and in some cases materials in transit, from the start of construction through completion or certificate of occupancy. Common covered perils include:

  • Fire, lightning, wind, and hail
  • Theft of building materials and vandalism
  • Explosion and sudden water damage
  • Soft costs (architect fees, loan interest, permit costs) when specifically added

Policies are typically written for 3, 6, 12 or 18-month terms. Premiums in Florida are generally fully earned at inception, no refund if the project finishes early. Extensions are available if the build runs long, but must be requested before the policy expires.

What does Builders Risk NOT cover?

  • Liability: No coverage for bodily injury or property damage claims against you as the property owner.
  • Faulty workmanship or defective materials: Damage from poor construction practices or substandard materials is excluded.
  • Worker theft: Theft by employees or workers on the job is generally not covered.
  • Flood: Requires a separate policy and is not automatically included.

An alternative option: Homeowners policy with under-construction endorsement

Some homeowners skip the standalone builders risk policy and instead purchase a homeowners policy with an under-construction endorsement. This extends property coverage to the structure during construction and — most importantly — can include the liability section of the homeowners policy. That makes it a potentially stronger option for homeowners who own the lot in their name. Confirm with your agent that liability is active and review coverage limits carefully.

Listen Up: If the land is in your name, you have a liability exposure!

Most homebuilders own the lot. That means you have a personal liability exposure that exists whether you have a builders risk policy or not. Consider this:

  • A delivery driver trips over construction debris on your lot.
  • A retaining wall fails during a rain event and damages a neighboring property.
  • Someone trespasses onto the site after hours and is injured.

In each case, a builders risk policy does nothing. You need a liability policy in place. Options include what we discussed above: a homeowners policy with an under-construction endorsement (which can include liability), a standalone vacant land or dwelling under construction liability endorsement, or confirming that a personal umbrella policy has qualifying underlying coverage. Your general contractor’s liability policy protects them — not you.

Talk to your agent before you break ground!

Whether you are the homeowner, builder, or real estate professional – make sure every phase of your project is properly covered. You could need a standalone builders risk policy, a homeowners under-construction endorsement, or guidance on closing a liability gap… either way, we can walk you through your options.

The Home and Auto Bundle is Back! And Florida Homeowners Need to Pay Attention

Posted on by McGriff Williams in Auto Insurance, Home Insurance, Insurance, McGriff-Williams News, Tips |

If you’ve been in Florida for the last several years and tried to bundle your home and auto insurance, you already know the frustration. It just wasn’t possible — or if it was, the savings were barely worth mentioning. That era is officially over.

The home-auto bundle is back in Florida, and for homeowners looking to cut costs without sacrificing coverage, the timing could not be better.

So what happened? A quick background:

To understand why the bundle disappeared, you have to get what actually happened to Florida’s insurance market over the past decade.

Florida homeowners insurance became one of the most volatile and expensive markets in the country. Rampant litigation, roof replacement and solicitation scams, repeated hurricane seasons, and reinsurance costs drove carrier after carrier either out of the state entirely or into insolvency. The companies that remained standing were often Florida-only or regionally focused carriers — built specifically to write homeowners insurance in a difficult coastal environment. They had no auto product to even offer.

On the flip side, the big national carriers that do write auto insurance — your Progressives, GEICOs, State Farms — either stopped writing new homeowners policies in Florida altogether or severely restricted their risk appetite. Without a competitive home product to pair with auto, the bundle simply didn’t exist.

The result? Florida homeowners were left piecing together coverage from two separate carriers, losing the multi-policy discount that used to be one of the easiest savings out there.
How does it look now?

Thankfully, the market has started to stabilize. Legislative reforms in recent years have reduced frivolous litigation, and several national carriers have re-entered or expanded their Florida footprint. At the same time, Florida-based and regional home carriers have gotten creative.

The bundling opportunity is back in two ways:

1. National Carriers Writing Both Lines Again

Some of the larger multi-line carriers have returned to writing homeowners in Florida with more appetite than they’ve shown in years. That means true bundling is back on the table with a single carrier — one policy, one bill, and a genuine multi-policy discount on both your home and your auto.

2. “Auto in Agency” Discounts Through Florida-Specific Carriers

Here’s a little more interesting development: even home insurance companies that still don’t write their own auto policies have started offering a discount just for having your auto insurance placed through the same agency. Some call it an “auto in agency” discount. Others have partnered with auto carriers specifically to facilitate the arrangement.

The logic from the carrier’s perspective is that if a customer trusts the same agent with both their home and auto, they are statistically less likely to file excessive claims and more likely to stay long-term. Loyalty being rewarded.

How much savings are we talking about?

The discount range can vary by carrier and policy, but bundling or qualifying for an “auto in agency” arrangement can potentially save homeowners anywhere from 5-15% on their homeowners premium. In a market where Florida home insurance costs have climbed sharply over the past few years, that percentage represents real money.

Example: For a homeowner paying $4,000-$6,000 a year in insurance premiums — which is not unusual in Florida — a 10% discount is $400-$600 back in your pocket annually. When you add the multi-policy discount that may also apply to the auto side, the combined savings can be substantial.

Should you look into it?

Yes. Really any Florida homeowner should. But this is especially relevant if you fall into any of these categories:

• You haven’t reviewed your insurance in more than 12–18 months
• Your home and auto are currently with two completely separate carriers and/or agents
• Your homeowners premium has increased significantly at renewal and you haven’t shopped alternatives
• You recently moved to Florida and are still figuring out how insurance works here
• You’re a first-time homeowner who set up coverage at closing and never revisited it

The market has changed enough that even if you looked at bundling two years ago and found nothing, it’s worth another conversation today.

The Bottom Line

Florida’s insurance market has been painful for homeowners. But the story has started to change. Carriers are coming back, discounts that vanished for years may be available again, and for the first time in a while, there is a real opportunity to review your home and auto together and come out ahead. If you haven’t had that conversation recently, now is a good time.

Spring Road Trip Prep: 5 Ways to Make Sure Your Auto Policy is Ready!

Posted on by McGriff Williams in Insurance, Tips |

Spring is finally here! The flowers are blooming, the air is getting warmer, and the open road is calling your name. Before you load up the car with snacks and your favorite playlist, there’s one crucial step many people forget: making sure your auto insurance policy is road-trip ready.

A smooth trip requires more than just a full tank of gas—it requires security. Here are five ways to review and adjust your auto policy to ensure you’re fully covered, no matter where your spring adventure takes you.

Confirm Your Coverage Area and Limits

The first step is the most fundamental. Where are you going, and is your current policy valid there?

  • Geographic Scope: Most standard U.S. policies cover you across all 50 states and, in some cases, Canada. However, if you are venturing into Mexico, you will almost certainly need to purchase a separate, temporary Mexican auto insurance policy, as U.S. policies are rarely accepted there.

Liability Limits: Road trips often mean driving longer distances in unfamiliar areas. This is a good time to review your liability limits. If your current limits are low (e.g., state minimums), consider temporarily or permanently increasing them. A serious accident far from home could result in significant costs, and higher limits offer a better layer of protection for your assets.

Pro-Tip: A quick call to your insurance agent can confirm your geographic coverage and help you understand the cost-benefit of raising your limits.

Check Your Roadside Assistance

Nothing derails a road trip faster than a flat tire or a dead battery in the middle of nowhere. While you might have roadside assistance through an auto club (like AAA), you may already be paying for this coverage through your auto insurance policy.

  • Dual Coverage Check: Review your policy to see if it includes towing, tire changes, fuel delivery, or lockout service. If you have overlapping coverage (e.g., an auto club and your insurance), you might be wasting money.

Service Distance: If your insurance includes roadside assistance, check the maximum towing distance. A short limit (e.g., 10 miles) might not get you to a repair shop in a rural area.

Review Comprehensive and Collision Deductibles

While liability protects others, Comprehensive and Collision coverage protects your vehicle. On a long road trip, your risk of a collision (especially with unfamiliar traffic or road conditions) or a comprehensive claim (like hail damage, hitting a deer, or theft in an unfamiliar city) can increase.

  • Deductible vs. Premium: Consider whether a slightly lower deductible (meaning you pay less out of pocket if you file a claim) is worth a small increase in your premium for the months you’ll be traveling heavily.

Total Loss Value: Ensure your vehicle’s stated value is accurate, especially if you have a newer car. You want to know you’ll be properly compensated if a total loss occurs hundreds of miles from home.

Understand Rental Car Coverage

What happens if your car breaks down beyond repair during your trip and you need to rent a vehicle to get home or finish your vacation?

  • Rental Reimbursement: This is an optional coverage that pays for the cost of a rental car while your insured vehicle is being repaired after a covered accident. Check if you have this on your policy and what the daily limit is (e.g.,$30 or $50 a day).

Collision Damage Waiver (CDW): When renting a car, the rental agency will push you to buy their expensive CDW. If you have Collision and Comprehensive coverage on your personal auto policy, it generally extends to the rental car. However, review your policy documents or call your agent to be 100% sure, as coverage can sometimes be limited to domestic travel.

Ensure Your Contact Info is Current

Imagine having an accident and needing to file a claim, only to realize your insurer is trying to reach you using an outdated phone number or email address.

  • Personal Information: Double-check that your address, phone number, and preferred communication method are up to date.
  • Proof of Insurance: Make sure you have the most current physical proof of insurance card in your glove compartment, along with a digital copy saved on your phone. Some states are very strict about requiring immediate proof.

By taking an hour to review these five points, you can swap potential stress for absolute confidence. Your auto policy is your safety net, and confirming its strength is the last—and most important—step before you hit the highway!

Mid-Winter Home Maintenance Checklist to Prevent Claims

Posted on by McGriff Williams in Tips |

February is a tricky month for homeowners. Winter isn’t over, but temperatures often fluctuate enough to create new risks. A little proactive home maintenance now can help prevent costly insurance claims later.

Start with your gutters and downspouts. Ice buildup can cause blockages that force melting snow into unwanted areas, including under your roofline. Clearing debris reduces the risk of leaks and ice dams. While examining the roof, look for loose shingles or damage caused by earlier storms.

Inside the home, check for drafts around doors and windows. These small leaks not only increase heating bills but also raise the likelihood of frozen pipes. Pipes in unheated areas—such as garages, crawl spaces, and attics—should be insulated, and cabinet doors may need to stay slightly open during cold spells.

Next, test smoke and carbon monoxide detectors. Winter heating systems run constantly, increasing the risk of fire or carbon monoxide exposure. Replace batteries and confirm devices are functioning properly.

Basements also need attention. Moisture from melted snow can seep in through cracks or clogged exterior drains. Inspect sump pumps, foundation walls, and basement windows for early warning signs.

With a few preventive steps, homeowners can reduce the chance of winter-related damage and protect their property through the final stretch of the season.

Small Business Insurance New Year, New Risks – Why Your Policy Needs a January Review

Posted on by McGriff Williams in Business Insurance, Tips |

Why Small Business Owners Should Review Their Commercial Insurance Coverage

The start of a new calendar year is more than just a fresh page—it’s a critical moment for small business owners to assess and adjust their operations. Your small business insurance policy should be at the top of this review list. As your business evolves, so do the liabilities you face, and inadequate commercial insurance coverage can leave your company exposed to financial loss.

January: The Best Time for a Business Insurance Audit

Why kick off the year with an insurance review? Your business operations in the previous year often involve changes that directly impact your risk profile:

  • Growth and Expansion: Did you hire new employees, increase inventory, or lease a larger office space?
  • New Equipment/Assets: Purchasing new machinery, technology, or vehicles changes the value of your assets that need protection.
  • Updated Services or Products: Launching a new offering may introduce professional or general liability risks not covered by your current policy.
  • Changing Regulations: New state or industry-specific compliance requirements might necessitate different forms of business liability insurance.

Key Areas to Update in Your Small Business Insurance Policy

A thorough January review helps identify gaps in your protection. Focus on these critical types of small business insurance:

1. General Liability Insurance (GLI)

Did your client interactions or on-site foot traffic increase last year? General liability insurance protects against claims of bodily injury or property damage for which your business could be held responsible. Verify that your current liability limits align with your updated exposure, especially if you moved to a new location or handle more high-value projects.

2. Commercial Property Insurance

This coverage protects the physical assets of your company—buildings, equipment, inventory, and supplies. Review the following:

  • Inventory Value: If sales surged, your current coverage limits might undervalue your stock, leaving you under-indemnified after a loss event.
  • New Asset Valuation: Have you purchased new computers, manufacturing equipment, or furniture? Update your asset schedule to reflect the current replacement cost.
  • Business Interruption Coverage: Has your revenue increased? This vital component, often bundled with property insurance, must reflect your current profitability to adequately cover lost income following a covered peril.
3. Workers’ Compensation Insurance

If your employee count changed, or if roles shifted to include higher-risk duties, your Workers’ Comp insurance classifications and premium will need an adjustment. Failing to accurately report payroll and job functions can lead to penalties or claims issues down the line.

4. Professional Liability (E&O) and Cyber Insurance

For service-based businesses (consultants, IT, marketing agencies), Professional Liability Insurance (Errors & Omissions) is crucial. If you begin offering new, higher-risk services (e.g., handling client data, providing complex advice), re-evaluate your limits.

Furthermore, with cyber threats rising, all small business owners should review their Cyber Liability Insurance to confirm it covers data breaches, regulatory fines, and business interruption from a cyber-attack.

Your Action Plan for a January Insurance Review

Don’t wait until a claim occurs to discover a coverage shortfall. Follow these steps to optimize your commercial insurance in the new year:

  • Document All Changes: Create a detailed list of new hires, large asset purchases, revenue changes, and any new services/products from the past 12 months.
  • Contact Your Broker: Schedule a dedicated review with your small business insurance agent or broker to discuss the documented changes.
  • Compare Quotes: The market is always changing. Use the new year as a trigger to quickly compare business insurance quotes to confirm you are getting competitive rates for the required coverage.
  • Confirm Deductibles: Verify that your current deductibles are financially manageable for your business.

Protecting your assets with the right coverage is a foundational element of a strong business plan. Start the year right by securing comprehensive small business protection.