The objective of this study was to collect insurance premium quotes for builder’s risk insurance (during construction) and commercial property insurance (during occupancy) for a Reference Building built using combustible construction (wood‐frame) and non‐combustible construction (concrete) in five Reference Cities to estimate the difference in insurance premiums for these types of construction. The Reference Building is a 100,000‐square‐foot, 4‐story apartment building with 15 one‐bedroom apartments and 8 two‐bedroom apartments per floor. The Reference Cities are Edgewater, NJ; Towson, MD; Orlando, FL; Dallas/Fort Worth, TX and Los Angeles.