Contractors Insurance!
Ask your average main street insurance agent about "Latent Construction Defect Exposure?"
Ask about the exposures a contractor faces with "Prior Work Performed," "Sunset Clauses," "Manifestation Provisions" and "Reporting Period" endorsements and/or exclusions?
It is crucial that a contractor insurance professional understands that an "occurrence" can be continuous and that different contractors face different exposures.
Unfortunately, many contractors believe their "average main street insurance agent" can do a perfect job advising and protecting them with appropriate insurance coverage's.
It's NOT true and that choice may likely expose certain coverage gaps and/or financial vulnerability.
Fact: The diversity of "Contractor Coverage Forms" in today's contractor insurance marketplace is complex and MUST be evaluated constantly.
At the CCI Underwriters, Inc, we provide direct access to an exclusive team of experienced and knowledgeable contractor insurance specialists representing top rated insurance companies.
If you want an insurance professional who knows your industry, your exposures and the insurance markets that best fit your needs, you found the right place!
Different Business Needs = Various Needs for Insurance
Every business has their own specific needs, which is why we offer various types of programs to cover your operations. Some business owners only need General Liability — whereas others may need a comprehensive package of multiple coverage’s. Because we specialize in insurance for the construction industry, we carry just about every market available to Builders and Sub-contractors. When you call us, we will make sure to ask the right questions to understand your scope of operations and get you into the right program that covers your exposures and fits within your budget.
Commercial General Liability (aka CGL)
General Liability insurance covers third party hazards. There are hundreds of programs out there to meet every need you may have. Programs can range from Premise Only coverage to full Occurrence Products and Completed Operations. Insurance carriers can be A+ rated or specific to builder risk-retention groups. Depending on your scope of operations, your needs for certificates, the needs of your business partners and your budget — we can find the right program for you.
Builders Risk (a.k.a. Course of Construction)
Builders Risk is a coverage that is designed to help cover your exposures during the construction phase. Material theft & vandalism, damage to property and certain soft costs are generally covered. We typically write this through A-rated carriers for this coverage, but we do have other options available. The coverage is specific to each project and premise and starts on construction and lasts until the project is complete.
Workers Compensation
Worker’s Comp is a coverage that will insure you in case one of your employees has a work-related injury. In the building trades, this is required for certain businesses and can be a large portion of the insurance budget.
Typically, businesses over a certain size are required to have workers comp and the price is dependent upon the class codes of the employees, the payroll and the states of operation. There are many options for workers comp now besides the State Fund. We have a number of carriers we work with to cover you for this.
Structural warranty programs offer an additional layer of protection to Builders. Generally, the warranty is written over a General Liability program but this is not always necessary.
Business Operating Policies (a.k.a. BOP’s)
BOP’s are a very general form of liability insurance for certain businesses. These are generally package policies that may include coverage for manufacturing, distribution and installation. BOP’s can vary in price depending on operations and gross receipts.
Inland Marine coverage is a broad form coverage that would include coverage for construction equipment & machinery such as backhoes, cranes, scaffolding, etc. This type of coverage is generally bundled into a package that may include CGL, COC and Commercial Auto.
Commercial Auto insurance is exactly what it states. This differs from your general auto insurance as many companies have employee use of autos which may not be covered under a typical personal auto insurance policy.
Contact us to learn more about the above. We will be happy to go over any specifics in detail.