How a Florida Business Reduced Insurance Costs by 41% Without Cutting Coverage
Many construction companies accept annual insurance increases as unavoidable. Renewals come and go, premiums creep up, and the explanation is usually the same: “That’s just the market.”
When a Florida-based specialty contractor came to Dependable Partners, they shared a familiar frustration: “No one’s been able to save us money for the last five years.”
What we found wasn’t a pricing problem; it was an accuracy problem.
The Challenge: Years of Renewals With No Reassessment
The contractor had renewed year after year, absorbing modest increases despite no major claims. On paper, the account looked stable.
But “stable” renewals can hide inefficiencies when policies aren’t actively reviewed. Over time, outdated information can inflate premiums and create coverage headaches when it matters most.
What We Found: Outdated Data Driving Premium
A detailed review uncovered multiple issues, especially within the Commercial Auto policy:
Key Issues Identified
- Vehicles no longer in use still listed on the policy
- Inactive drivers included in rating
- Incorrect garaging and radius assumptions
This kind of mismatch can lead to overpayment and potential complications if a claim involves a misclassified or incorrectly scheduled vehicle.
Our Approach: Clean the Data, Then Re-Market
Instead of accepting the renewal as-is, we took a full-market, audit-first approach:
What We Did
- Updated vehicle and driver schedules (removed inactive units and personnel)
- Verified VINs, garaging locations, and radius of operations
- Ensured General Liability, Workers’ Comp, and Umbrella exposures matched current operations
- Re-marketed the account to multiple top-rated carriers using corrected data
- Negotiated pricing based on verified, risk-accurate underwriting details
The Result: 41% Savings With Better Accuracy
After correcting exposures and re-marketing the program, the contractor saw meaningful improvements across the portfolio:
Outcome Summary
- Commercial Auto improved significantly
- General Liability decreased
- Workers’ Compensation remained unchanged (confirming it was already accurately priced)
- Umbrella increased slightly to better match actual risk
Overall, the total annual premium decreased by 41%, uncovering over $20,000 in savings, without cutting coverage quality.
The Takeaway: The Problem Wasn’t the Rate, It Was the Data
This case study highlights a common issue in construction insurance: renewals that roll forward without revisiting the fundamentals.
Over time, outdated schedules and assumptions can quietly increase premiums. When the data is corrected and the account is properly marketed, pricing often improves, and coverage accuracy improves with it.
A Simple Question for Contractors Facing Renewal Increases
If your company has been renewing year after year without a detailed review, ask: Does our insurance program still reflect how we operate today?
A proactive coverage audit can help identify outdated schedules, verify exposures, and ensure your renewal is truly competitive, without cutting corners on protection.
As always, our team is here to review your current program and confirm whether your renewal reflects your real-world operations.
