Builders Insurance Group Property Insurance Review and Ratings (2022)

Builders Insurance Group is a small company that offers commercial insurance policies to business owners. It has a comprehensive online platform where customers can pay their bill, file claims, and perform monthly self-reporting for worker's compensation.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Apr 3, 2022

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The Rundown

  • Builders Insurance Group offers commercial policies to business owners
  • The company has 30 years of experience with a strong executive team and parent company
  • Although Builders Insurance Group operates in several states, the type of coverage you can get varies in each one

Builders Insurance Group is a smaller-sized insurance company, offering commercial policies exclusively to business owners.

Customers can get a range of commercial products from Builders, including worker’s compensation, general liability, and builder’s risk policies. Builders insurance can only be obtained through its network of independent agents in the states it operates in.

In this review for 2022, you will learn where and what types of commercial policies you can get with Builders Insurance Group, a review of its online tools, a look at its financial standing, and a brief look into customer reviews.

About Builders Insurance Group

Builders Insurance Group, Inc. was founded in 1992 and is headquartered in Atlanta, Georgia. Builders provides commercial insurance policies to over 17,500 policyholders across 17 states.

Although the company offers services in several locations, the types of coverage provided vary from state to state. The types of policies and locations covered by Builders Insurance Group are:

  • Alabama – Worker’s compensation, general liability, commercial package, umbrella policy
  • Arizona – Worker’s compensation
  • Colorado – General liability, commercial package, umbrella policy
  • Florida – Worker’s compensation, general liability, commercial package, umbrella policy
  • Georgia – Worker’s compensation, general liability, commercial package, umbrella policy, builders risk
  • Indiana – Worker’s compensation, general liability, commercial package, umbrella policy
  • Kentucky – General liability, commercial package, umbrella policy
  • Maryland – Worker’s compensation
  • Michigan – Worker’s compensation
  • Mississippi – Worker’s compensation, general liability
  • North Carolina – Worker’s compensation, general liability
  • Oklahoma – Worker’s compensation, general liability, commercial package, umbrella policy
  • South Carolina – Worker’s compensation, general liability, commercial package, umbrella policy
  • Tennessee – Worker’s compensation, general liability, commercial package, umbrella policy
  • Texas – General liability, commercial package, umbrella policy
  • Utah – General liability, commercial package, umbrella policy
  • Virginia – Worker’s compensation, general liability, commercial package, umbrella policy

Who Owns Builders Insurance Group

Builders Insurance Group is owned by Builders Insurance (a Mutual Captive Company). The group also owns American Builders Insurance Company and National Builders Insurance Company, which is collectively referred to as Builders. All of the aforementioned companies are located in Atlanta, Georgia.

In 2021, Builders announced that Todd M. Campbell would become president and chief executive officer of the insurance company. Todd has 30 years of leadership experience in the insurance industry and has been CEO of life, property, and casualty insurance companies in the past.

Also in 2021, the company rebranded its business name to simply be called Builders, although it still operates as an insurance group.

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Builders Insurance Group Commercial Products

Builders Insurance Group solely focuses on offering commercial property insurance products for business owners. The types of policies the company provides are:

  • Worker’s compensation. Insurance that pays for medical bills, rehabilitation of injured workers, and lost wage replacement. State laws govern how much benefits are paid out to workers who file a claim.
  • Commercial general liability insurance. Covers lawsuits that seek damages from the company that arises out of business activities. Examples include injuries to individuals and damages to personal property.
  • Commercial package policy. Combines two or more lines of coverage into a package. The typical combination consists of property and general liability coverage but can include several other lines to fit the needs of customers.
  • Commercial umbrella policy. Insurance that extends the general liability policy limits for claims that exhaust the liability coverage amount.
  • Builders risk insurance. Coverage that protects the structure and equipment while in the construction phase. Includes coverage for building materials, foundations, and temporary structures.

Within each type of coverage, there are several add-on products available that help customize your commercial insurance needs.

Builders Insurance Group Online Platform

Builders has a very robust website with in-depth information about its commercial insurance policies, customer and agent online tools, and even a safety training academy that is OSHA authorized.

Using the Builders Insurance Group login page, customers can make a payment, file a claim, perform monthly self-reporting for worker’s compensation, and even manage builder’s risk, all on the online platform.

Agents have several online tools through the website including a login page for eQuotes service, a support center, and a registration page for adding customers to their portfolio.

Overall, the online tools are very comprehensive, making a lot of the insurance processes such as reporting and managing risk much easier for customers.

Builders Insurance Group Claims Process

Builders offers an interactive claims center where customers can report worker’s compensation, general liability, property, and builder’s risk claims. You can file a claim online through a user-friendly claim submission portal.

You can also find a doctor for injured employees through an address, name, or region search. There is a roster of all participating providers in the network. All online medical searches go through Conventry Medical Network.

Builders has a claims hotline that is available 24/7. The claims phone number is (800) 883-9305. Dial “two” to be connected to the claims department.

After filing a claim, expect to receive communications from a specialist within 24 hours. You will be provided with an official claims number.

If you are filing a worker’s compensation claim, make sure you are familiar with worker’s compensation laws.

Builders Insurance Group Financial Integrity

Builders has been rated by A.M. Best Company and has given them a financial strength score of “A” which is excellent.

The company received its latest score in July 2021 and has been rated by A.M. Best since January 2002. The company’s outlook has been assigned to stable.

The rating reflects Builders strong balance sheet, efficient operating performance, and appropriate risk management.

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Builders Insurance Group Customer Reviews

The company has very few reviews left by customers, with only 23 reviews left on Google Maps. The rating for Builders is 3.4 stars, which is higher than average for most insurance companies.

Customers have had mixed experiences with Builders. Some have experienced great customer service and a quick claims process, while others have experienced poor support and overpriced policies.

Overall, it seems customers are generally happy with the company, although it can be difficult to deal with, as one customer put it.

Builders Insurance Group Complaint Index

The National Association of Insurance Commissioners (NAIC) releases a complaint index that issues a score for insurance companies that is based on confirmed complaints. The national average is a score of one.

For the past three years, Builders has received a score of zero, with no confirmed complaints on file.

Builders Insurance Group Review for 2022 Conclusion

Builders Insurance Group is a small commercial business insurance provider that operates in several states. Each state varies in coverage availability, with Georgia having the most types of policies available.

The company has been in business for 30 years and is in strong financial standing.

Builders provides an exceptional online platform where customers can report claims, handle their policies, and do several online reporting tasks as required by law. There is comprehensive information about the company’s products online and a safety training center for businesses.

Builders Insurance Group offers the basics of commercial property insurance policies to its business customers. Within each type of insurance available, there are several add-on features that tailor coverage to the customer’s needs.

Although there are not very many reviews left online, customers generally have a good experience with Builders and the company has zero confirmed complaints on file.

Overall, Builders Insurance Group appears to be a solid company, is in good financial standing, and provides a generally positive customer experience.

References:

  1. https://www.nfib.com/content/legal-compliance/legal/workers-compensation-laws-state-by-state-comparison-57181/

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