Builders Mutual FAQs

Builders Mutual Insurance Company
PO Box 150005
Raleigh, NC 27624-0005
Premium Audit 800-809-4860, fax 919-845-9382
Risk Management 800-809-4858, fax 919-845-9385

Builders Mutual Insurance Company – WorkSafe Self-Reporting Worksheets
PO Box 900017
Raleigh, NC 27675-0017

Builders Mutual Insurance Company – Builders Best Bill Payments (CPP, Auto, Builders Risk, Umbrella)
PO Box 900027
Raleigh, NC 27675-0027
Premium Accounting 800-809-4860, fax 919-845-9382

Builders Mutual Insurance Company – Claims
PO Box 150006
Raleigh, NC 27624-0006
Claims 800-809-4861, fax 919-845-9385
Claims Reporting 800-809-4862, fax 919-845-9385

Builders Mutual Insurance Company – South Carolina Workers' Comp Claims
171 Church St, Ste 140
Charleston, SC 29401
Claims 866-307-5302

If your letter indicates the pending cancellation is due to non-payment of HBA dues, contact the Marketing department at 800-809-4859, ext. 489.

For non-payment of premium, contact the Premium Accounting department at 800-809-4860.

For any other cancellation reason (including non-renewals), contact the Underwriting department at 800-809-4859.

Each new policyholder is assigned an experience modification factor. BMIC may use the experience factor that was previously assigned by an appropriate rating bureau within the past 12 months (if current factor is not available, 1.00 will be used) prior to insurance coverage with BMIC. The experience modification factor applies for the full policy term. A new experience modification is promulgated for each new policy period. If applicable, prior carrier experience is combined with BMIC loss experience. The NCCI (SC, TN, VA) or the North Carolina Rate Bureau (NC) promulgates all experience modifications.

Each state has a different rate. The calculation is outlined at the bottom of the Worksheet:

• Total payroll in Column 3.
• Divide the sum by 100.
• Multiply the sum by the state-specific terrorism rate found on Line 15.
• Round this figure to the nearest dollar and enter in Box 15, "Terrorism Risk Act."

You will receive 2 worksheets in the month your current policy expires and your new policy renews. For example, if your policy expires on March 15 and your new policy renews March 16, you will receive 2 worksheets (one for the term March 1-15 and one for the term March 16-31). You must return both to avoid cancellation!

Audits are originated based on your policy’s expiration date. For example, if your workers’ comp policy expires in January and your general liability policy expires in May, you can expect separate audits within 45 days following each expiration.

The discount factor is based on actual premium. Be sure to review your estimated bill carefully at the time of policy renewal, as this becomes the basis for your future reporting forms.

There may be several reasons:

• The audit generated more payroll than you previously reported.
• The allocation of payroll among the applicable classifications may be different than you reported.
• A minimum premium may apply. Every classification has a minimum premium. If the payroll you reported during the year generates a calculated premium that falls below the specific minimum premium for the classification of your policy, then the minimum is applied.

The Expense Constant is not being billed again. To confirm:

• Add up all premium payments (excluding payments toward deposit) for the policy term. Add the Expense Constant. The total should match the Previously Paid amount shown on your audit bill.
• Add the Expense Constant and Terrorism fee to the Normal Premium Amount (found on the second page of your audit bill). This is your Total Premium – from this, subtract the Previously Paid amount to arrive at the audit bill balance.

General Liability has 2 sublines of coverage: Premises Operations and Products Completed Operations. The Premises Operations covers you while construction is in progress; Products Completed Operations covers you after construction is completed. These 2 sublines of coverage have different rates and are therefore listed separately on the bill.

Your HBA membership dues are paid directly to your local HBA. Payments are NOT made to Builders Mutual Insurance Company.

We cannot make payments for our policyholders. Click here to Find a Local HBA for phone and address information.

YES, Builders Mutual contacts each local HBA throughout the year. If your local HBA notifies us that your membership has lapsed, we will notify you of pending cancellation of your insurance policy(s). We also depend on the locals to notify us when you have renewed your dues.

The benefits of membership range from services that benefit your business to programs that enhance the business climate for home builders. HBA membership is an opportunity to build a network of professionals in the industry by sharing ideas with other builders, subcontractors, suppliers and service firms. These opportunities are in the form of monthly membership meetings, golf outings and other social gatherings. HBA membership is an opportunity to gain recognition and respect in the community and within the industry. As part of your membership dues, you automatically become a member of the local HBA, the NCHBA or the HBAT and the National Association of Home Builders (NAHB).