Contractor Insurance For New Company

Project Description:

Startup Construction Company

An individual contacted us for insurance on a start up construction company. The two owners had been in the business for a long time, and had a book of clients prior to venturing out on their own. They sent the insurance requirements from each client, in which the contractor would need to fulfill in order to be able to do business. In all, there were eight regular clients with over twelve different insurance requirements among them.

The Challenge:

In this situation was finding a carrier that would not only fulfill all of their clients requirements but also ensure they would get the best rate possible for the current situation, and through the year as they grew.

The Solution:

After communicating the needs of our prospect with our contacts we found six A Rated carriers interested, all of which fulfilled their needs. Ultimately, the contractor went with the highest rated carrier and their insurance was acceptable to additional clients they picked up during the year.

Without the proper insurance, their clients would not allow them to even provide a bid on work. Fortunately, they were able to bid on every project sent their way. The client grew seven times in the first year.