Having growing pains?
Has your construction business outgrown its commercial insurance brokerage?
Things were a lot simpler when you first got licensed as a licensed contractor.
You didn’t need a whole lot from your agent back then.
They helped you get the coverage you needed – the Commercial General Liability policy, the contractor’s surety bond for your license requirements. a
And then maybe some workers’ comp and a business auto policy, and sent you on your way.
But now, you’ve grown. You’ve added more employees. More vehicles. The contracts you bid on are more complicated. The insurance requirements in your contracts are getting more strict.
Insurance and bonding may even be becoming a bottle neck in your business’s growth.
The General Contractors and Project Owners who hire you want very specific language in your certificates of insurance.
As a growing business, you are:
- 👷♀️ Adding more people.
- 🆕 Expanding your service offerings.
- 🗺 Expanding your service area.
- 🚚 Growing your fleet of trucks/work vans.
- 👨💻 Bought new technology or equipment.
- 💪 And you’re bidding on bigger contracts.
Your Needs Have Changed:
And now you need…
- ◼ Confidence that your agent understands your risk and coverage needs.
- ◼ Help with contract compliance.
- ◼ Specific wording on your certs. i.e. specific forms for additional insureds.
- ◼ Quick response times.
- ◼ Bid and/or Performance Bonds.
- ◼ Help controlling the cost of claims.
- ◼ Help controlling your Experience Mod Rating.
Does this sound like you?
Have you outgrown your insurance broker relationship?
Has your local agent either retired or sold their agency?
And now the service isn’t what it was?
What areas of your business are experiencing the biggest growing pains? Comment below.
If you have questions, you can email me here: joshua.keene@usi.com
If you know you’ve outgrown your agency and want to discuss further, you can book a meeting by clicking “Have a Conversation” below.