This article was produced in partnership with Victor Insurance
As construction continues to fuel broader economic expansion, the industry itself is grappling with volatility that is reshaping how both builders and insurers operate. Uncertainty runs through every stage of a project, whether there will be enough skilled labour on site, how materials are sourced and priced, or how long it will take to get permits. Inflation and tariffs often take the blame, but the real challenge lies deeper: it has become nearly impossible to forecast with confidence what staffing, supply, and costs will ultimately look like.
In this environment, builders risk insurance is under new pressure to keep projects moving. Well-prepared submissions can significantly cut processing times, enhance accuracy, and better safeguard the insured’s exposures.
Jeff Benson, Builders Risk Program Manager at Victor Insurance, says the difference between fast and slow submissions often comes down to preparation. “If agents improve the quality of the submission and give the underwriter what they want up front, everything flows better,” he explains. “You get the quote quicker, it’s more accurate, and ultimately the builder is better protected.”
For Benson the submission process boils down to one recurring issue: value. “I would say it’s the biggest problem,” he explains. “It’s so basic, but it’s probably builders risk and property insurance’s biggest problem. If the value isn’t right, everything else is compromised.”
Yet the industry still sees far too many submissions that lack the basics. Missing budgets, vague descriptions of materials, incomplete renovation scopes, or COPE data that fails to establish even the location and construction class of a project are recurring problems. The result is an endless back-and-forth that erodes both time and confidence. The consequences stretch beyond efficiency. In one case, a million-dollar claim was cut in half because the project had been underinsured, a mistake that could have been avoided with proper documentation at the outset.
The irony is that the most complex projects -- custom homes, wildfire-exposed developments, structural renovations -- are also the ones where speed matters most, yet they are most likely to stall without adequate detail. Underwriters expect to see construction budgets and schedules, builder biographies that establish track record, and clear descriptions of scope when structural changes are involved.
At the other end of the spectrum lies a different challenge: how much information is enough? Agents sometimes complain about overly detailed applications. Benson acknowledges the frustration. “All right, I’ll take the agent’s view,” he says. “Let’s say it’s a small, low-hazard risk. One underwriter asks a hundred questions and another asks five. Who are you going to go to? You’re going to pick the one who asks five, as long as they still have good coverage and good pricing. It’s just easier. I understand that.”
But the balance, he argues, is not about minimizing questions—it’s about clarity between agent and underwriter. “It comes down to having a conversation. Call the underwriter and ask: what do you really want to write?
Technology has improved the process, especially for smaller and less complex projects. Victor’s recently launched Builders Risk QuickCover platform, available on their online portal, V², has streamlined submissions by reducing them to five underwriting questions, producing a quote and binding coverage within minutes. For straightforward, ground-up construction, it has been a game changer.
But automation has not replaced accountability. With carriers now using drones, satellite imagery, and third-party APIs to verify submissions, inaccuracies can be exposed months after a policy is written, creating problems for everyone involved. “Agents need to be accurate with what they put on applications,” Benson says. “Carriers can audit, and they will.”
Beyond documentation and technology, the most overlooked advantage may simply be communication. Benson recalls one young agent who decided to specialize in custom homes. He immersed himself in research, consistently called with informed questions, and learned exactly what information underwriters required. Within a year, he became one of Victor’s fastest-growing agents. The lesson is straightforward: when agents and underwriters build trust through clarity and responsiveness, submissions move quickly and smoothly.
“The reason he’s successful,” Benson explains, “is he learned what we need and gave it to us upfront. We don’t waste time going back and forth.” In a market where projects often hinge on whether coverage can be secured the same day, that kind of collaboration has become a competitive advantage.
Ultimately, a strong submission is a mark of discipline. It signals foresight in an industry defined by uncertainty, builds trust between agent and underwriter, and ensures that projects are adequately protected. “Nobody wants to waste time,” Benson concludes. “But more importantly, nobody wants to explain why a claim went unpaid when the information should have been there from the start.”
