I’m technically an owner builder. I have a workman’s comp policy that ranges from 10-40% of payroll depending on the task. For a residential project I can definitively say insurance is way more than 1% of total cost. Eg for the sake of round numbers, let’s say labor is 50% of the total. If I take the absolute lowest percent of what I pay for insurance, we already are up to 5%.

This is separate from liability insurance for say negligence if I got sued. I hope my umbrella policy would cover me here but I found in my situation it is a bit confusing. An insurance broker struggled to give me clear answers