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California Contractors Insurance
Anyone in the Construction industry searching for California Contractors Insurance faces a unique challenge. Our building and construction laws are some of the most stringent nationwide and therefore place a higher amount of risk on you as the contractor as well as on the construction insurance carrier that is insuring your operations. The insurance agents at Ballast Point Insurance Services use our Nationwide Network of insurance carriers in order to offer the most inexpensive rates available for all aspects of Contractors Insurance California.
We Specialize and You Win
California Contractors are flooded with marketing material from other Insurance Agencies that claim to specialize in Contractors Insurance but having a few clients that happen to be in the Construction Industry does not make you a specialist. Our insurance agency was started with Contractors like yourself in mind. We were born from one of the largest California Contractors Insurance Agencies and have focused on the building industry ever since. Our insurance brokers are rigourously trained on the latest policy updates and laws that directly affect your coverages and prices and we are alway searching for new and better policies in which to place our Insureds in the building industry with. Ask yourself if you would hire a painter to install a roof? No, then why buy a California Contractors Insurance policy from an Insurance Agency that doesn't specialize in Construction Insurance?
What Policies do I Need?
This is a great question and one of the most frequent that we hear. There is no simple answer to this question as some policies are required by law of some types of Contractors while not of others. For instance, if you are a Roofer in California then the Contractors State License Board my require that you have a Workers Compensation Insurance policy, even if you have no employees, while they do not have that same requirement of other General Contractors. So, it all depends on your particular situation. Some Contractors are not required to have insurance at all by the state but find that in order to receive a contract with a client that they must furnish and provde proof of several types of Contractors Insurance. Whenever we begin the quoting process with our clients, the first thing we
ask is if there are any insurance requirements that have been given to them by anyone to fulfill or not. Some clients may be very particular of the types of coverage that you provide to them so as Insurance Brokers we want to make sure and do everything in our power in order to satisfy those requirements while at the lowest possible price.
Coverage Options for California Contractors
If you're licensed with the State of California and depending on your licensed trade, you will be required to furnish the CSLB wiith a Contractors License Bond. These bonds can range from $12,000 and up in limit size. The rates however are determined by several factors that include but are not limited to the following; Your prior history of being bonded in California and your personal and company credit history. We have found that these things are very subjective and in many cases have argued the rates down for our clients based on some simple additional information. Don't forget to let us know when your California Contractors License Bond comes up for renewal as we have been able to save our clients up to 75% over their current renewal offers simply by checking with our many carrier relationships.
Another coverage that is sometimes overlooked is Workers Compensation Insurance. Most California Contractors Insurance requirements that we see from our clients have a Worker Compensation Insurance Requirement included. In fact, in California it is the law that any buisiness that has one or more employees must carry some sort of Workers Comp Insurance or be self insured which is an impossibility for most companies. Also, we've seen many clients that wrongfully think that their employees are actually independent contractors and are exempt from being required to provide some sort of workers compensation coverage for them. Unfortunately, they find out after there has been an uninsured accident that they are actually responsible for the hefty hospital bills, lost income and possible retraining that can occur with such claims.
We offer many affordable solutions for the particular California Contractor Insurance needs that you and your business may have. Call or click anytime to chat with one of our very friendly Agents to find out more about why Ballast Point Insurance is a leader in all things Construction for California.
California Contractors Insurance