SHW Insurance Services :: For Builders

Today is

3138 Roosevelt Street, Suite L
Carlsbad, CA 92008

888.654.6565 toll-free office
888.641.3922 toll-free fax

www.shwins.com
info@shwins.com

INSURANCE SERVICES FOR BUILDERS

Builders, developers, and contractors, have unique insurance needs. Due to the many high risk hazards they encounter, it is very important to make sure coverage is complete.

SHW Insurance agents have extensive experience in the building and construction industry. We have provided builders, developers, and contractors with many viable solutions to managing their risks, insuring operations, and protecting their assets.

We can place all types of building trades from the smallest sub-contractor to the largest tract home developer, and will meet your needs for all endorsements that you may be required to obtain for your jobs.

Please click on a link below for more information on that specific type of builder's insurance:

Commercial General Liability
Builders Risk / Course of Construction
Worker's Compensation
Bonds
Commercial Auto
Pollution Liability
Consolidated Insurance Programs (Wraps)
Excess / Umbrella Policies
Structural and Other Warranty Coverage

Commercial General Liability (CGL) - REQUEST A QUOTE

Commercial General Liability insurance covers third-party hazards that result in damage or injury. There are hundreds of programs out there to meet your needs. 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. We can find the right program for you depending on your scope of operations, your needs for certificates, the needs of your business partners, and your budget.

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Builder's Risk / Course of Construction REQUEST A QUOTE

Builder’s Risk insurance is designed to help cover a builder’s exposure during the construction phase. Theft & vandalism, damage to property, and certain soft costs are generally covered under Builder’s Risk insurance.

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Worker's Compensation REQUEST A QUOTE

Workers Compensation is a state-mandated requirement for all business owners who hire employees. It is a form of insurance that provides compensation and medical care for employees who are injured on the job. Although it is not required for owner-only businesses, it is important for the owners to make sure that their individual health care plan will provide coverage if they are injured on the job. SHW Insurance agents will research many markets to make sure that you are provided with the lowest premiums for your business.

Bonds REQUEST A QUOTE

Surety bonds guarantee that specific obligations will be fulfilled, such as meeting a contractual commitment, paying a debt, or performing certain duties. Usually, a bond is written for a definite amount, which is known as the bond penalty.

Each bond is a written contract between three parties. Two of the parties obligate themselves to meet a commitment to the third party. If the commitment is not met, a sum of money, up to but not exceeding the full penalty, becomes payable as damages. On every bond, the parties are the principal, an obligee and a guarantor or surety. The "Principal" is the party who has agreed to fulfill the obligation, which is the subject of the bond. The "Obligee" is the party for whose benefit the bond is written. If the Principal defaults on the obligation, damages are payable to the Obligee. The "Guarantor or surety" is the company providing the bond for a fee. The surety joins with the principal in guaranteeing fulfillment of the obligation, and agrees to pay damages if the principal defaults.

There are many different types of bonds, as follows:

·         License and Permit Bonds
Many local, state, and federal laws require that a bond be furnished before someone can obtain a license or permit to engage in a particular activity. The bonds are designed to guarantee that laws and regulations of a particular business or activity are followed.

·         Contract Bonds
Contract bonds are issued to guarantee performance of the terms and provisions of written contracts. The principals on these are usually construction contractors.

·         Performance Bonds
A performance bond guarantees the owner (obligee) that the contractor (principal) will complete the original contract as drawn. If the contractor fails to complete the work, the surety may at its own expense engage another contractor to complete the work.

·         Financial Guarantee Bonds
These guarantee payment of money. A strong financial statement in relation to the penalty of the bond is required.

·         Payment Bonds
Payment bonds, which are also known as "Labor and material bonds," guarantee that a principal will complete and deliver the work free and clear of liens or encumbrances.

·         Supply bonds
A supply bond will guarantee that a supplier will faithfully furnish supplies, materials, finished products, or equipment according to the terms of a supply contract.

Commercial Auto REQUEST A QUOTE

Commercial Vehicle Insurance is needed to cover the cars, trucks, and vans used in conducting your business. Large fleets as well as small businesses should be properly covered by a commercial auto policy. In general, if a vehicle is used in tasks related to the operator’s occupation, profession, or business—other than commuting—a commercial policy is necessary.

Pollution Liability REQUEST A QUOTE

New Federal lead regulation affects all contractors, property owners, property managers, artisan contractors including (but not limited to) painters, plumbers, carpenters, electricians, and maintenance personnel. The Lead-Based Paint Pre-Renovation Education Rule (Lead PRE) is a federal regulatory program affecting contractors, property managers, and others who disturb painted surfaces. It applies to residential houses, apartments, and child-occupied facilities such as schools and day care centers built before 1978. Major fines in excess of $ 37,000 are given if failure to adhere to the rules and regulations of the Environmental Protection Act.

Pollution damage is usually excluded from your general liability policy. Therefore it is very important that you consider having a pollution liability policy as part of your risk management.

Consolidated Insurance Programs (Wraps) REQUEST A QUOTE

Many project owners prefer to provide some of the basic insurance coverages for their projects themselves, rather than having each contractor provide separate insurance for their own liabilities . These consolidated insurance programs, also know as “wrap-up” programs, provide one or more coverages for the project owner, general contractors, and subcontractors.

Umbrella / Excess Policies REQUEST A QUOTE

An umbrella liability policy provides excess limits of coverage, over and above the limits provided in various basic liability policies. Specifically, most umbrella liability policies provide excess coverage over the contractor’s general liability, auto liability, and employer’s liability insurance. An excess policy will provide excess coverage over a single mono line of insurance.

Structural and Other Warranty Coverage REQUEST A QUOTE

Structural and other warranty programs offer an additional layer of protection for builders. Our sister company, StrucSure Home Warranty, offers 1, 2, and 10-year warranties. This coverage protects builders against claims, legal fees, and liabilities and offers homebuyers protection in the event an issue occurs with their new home. Click here to learn more about the best warranty coverage available nationwide.