Construction insurance premiums resemble the quantification of risks in construction projects and signify a portion of the construction expenses in return for securing investments in cases of claims. While previous studies recognize that improved on-site safety measures, including construction technology, lead to reduced insurance premiums, existing research falls short in quantifying the specific connection between construction technology and insurance costs. The goal of this research is to quantify the impact of construction technologies—namely BIM, VR safety training, prefabricated and modular construction, robotic fabrication, 3D printing and construction automation, and construction site IoT—on accident reduction and insurance premiums. The study comprises two primary phases. Initially, industry research that involves interviewing construction and insurance experts is conducted to grasp industry-specific risk perception and premium evaluation standards. Secondly, quantitative statistical analysis of expert surveys is conducted to assess how construction technology affects reducing accidents and insurance costs. The results quantitatively indicated a direct link between reduced accidents and lower insurance premiums. The research also revealed that insurance premium reduction is not the sole determining factor for adopting construction technology.