No one—besides insurance agents—really likes to talk about insurance. It’s okay, we know it’s true! But we also know that insurance is absolutely vital to your success as a contractor... and we know you realize that as well.

It’s not always easy to figure out how much insurance you need to proceed with your work confidently. Heck, you may not even be sure exactly what type of insurance you need! Your best bet is to give us a call so we can work with you to develop an insurance package that meets your individual needs—but in the meantime, we’d like to draw your attention to a few useful facts.

• Many insurers do not allow subcontractors under your liability coverage. If that’s the case, your subcontractors will need their own liability insurance.
• While claims-made policies (these are triggered when a claim is made rather than when an incident occurs) offer lower up-front and ongoing costs, there are some intricacies involved in this type of coverage. If you do not understand these thoroughly, you may be better off with traditional coverage, which is triggered when an incident occurs.
• Not all insurers are created equal. We work with A-rated insurance carriers—and you should, too. Not sure what your insurance company’s rating is? Just give us a call.
• The controlled insurance program (CIP) is becoming more and more common, and for some very good reasons: they’re efficient, they bundle general liability with workers’ comp, streamlined claims processes, and so on. But when you’re considering a CIP, be mindful of the potential coverage gaps.

Questions about coverage for your construction business? We can help!

For more than 25 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of businesses that require specialized insurance packages and knowledge. With offices in California and Indiana, Beall Financial and Insurance Services serves clients nationwide.