Insurance is needed for almost all professions but for builders or home remodelers it is critical to have. A quality builders risk insurance policy is what you really should have to cover the property. If you are a builder or a contractor you need to get a builders risk quote construction policy. The Monthly Reporting Form on a monthly rate is a system in which the builder writes reports every month detailing his entire inventory for the previous month. The builder then calculates the rate applicable for the inventory and arrives at this monthly premium which he then sends on a check to the insurance company or agent together with the monthly report.
There is also the Monthly Reporting Form on an Annual rate is similar to the one on a monthly rate except that the new starts are covered for 12 months and does not need to be reported again unless construction has not finished at the end of 12 months The Blanket Annual Deposit is an easy policy where the builder calculates the completed value of the new start projects expected in the coming 12 months in addition to homes that will be in existing inventory for more than a year. The contractor insurance company then applies the rate to the total of the estimated annual value.