Construction Insurance & Surety Brokerage

An insurance broker is an intermediary between the insured (you) and the insurer (carrier). Their responsibility is to find you a policy that aligns with your specific needs and make sure you have the best coverage, terms, conditions and price. It is possible that some brokers will have agency contracts with certain insurers. However, insurance brokers typically remain obligated to represent the interests of the insured rather than the insurer.

There are many benefits from working with an insurance broker. The main benefit is that you will receive expert advice on insurance recommendations that serve your interests including the best coverage, terms and rates.

A good insurance broker will specialize in a specific industry, such as residential, business, or construction. This ensures they are applying years of expertise and knowledge around your risk management needs to better advise and guide you on the best policy. For example, a construction insurance broker will understand a contractor’s contractual obligations, language and any areas that provide exposure. While brokers do not provide legal advice, a qualified broker can help you manage and minimize risks to your business by negotiating insurance policies that are tailored to your business.

When searching for a broker for your insurance needs, it’s highly recommended that you do your due diligence. Construction is specialized and the insurance broker you choose should have industry knowledge specific to your trade in order best represent you.

A good broker will work closely with you to understand your business, establish the scope of your insurance needs, and learn about your short and long term goals. They should provide an in-depth analysis to ensure they have all the information necessary to show an insurer that you are a preferred risk.

Your insurance broker can and should deliver risk expertise in addition to insurance solutions. Procore Risk Advisors puts risk advisory at the forefront by delivering risk expertise that is enhanced with technology. This helps us better support you with a deeper view into your risk profile, operations, and business strategy.

Procore Risk Advisors is a modern brokerage that combines risk advisory and technology to deliver more value to clients. Our team utilizes insights from over two million annual users and over one million projects on Procore. By leveraging these insights and our insurance expertise, we are able to better advocate for our clients to help them receive the terms they deserve.