Construction business is full of risks – and we all know that suit happens – lawsuit that is. But rather than being overwhelmed by worry and fear, you can take measured steps to protect your business. LiveRate® at Ideal Choice Insurance Agency assists you in minimizing the financial implications of future uncertainties (a.k.a. claims and losses) by comparing rates for business insurance, worker’s compensation and commercial auto with leading low price insurance companies. LiveRate® is a free service for comparing rates, allowing you to shop for – and buy – insurance that best fits to needs. What you get from us is factual and helpful information since we are not an insurance company – and you are never under any obligation to purchase. LiveRate® does not require your contact information to provide you with free insurance rate estimates. We know your time is too valuable to spend it on lengthy forms. That’s why we have designed ours to be hassle free and super easy. Just spend a minute or two on our secure form to receive a number of customizable policy estimates – we do not sell your information – and only one (1) agent will call you – but only when you request a call! After comparing rates with LiveRate® you’ll not only get great contractor’s insurance coverage – you’ll also get it at an affordable rate, payment plan and a flexible down payment too. You can contact us with any questions you might have – we’re happy to help match your insurance needs to competitive rates and options. Measure twice and cut once by comparing rates with LiveRate® for...
Definition of Contractor RRG A Contractor Risk Retention Group is a self-insurance plan – or group captive insurer – operating under the auspices of the Risk Retention Act (RRA) of 1986 that can cover all the liability exposures – other than workers compensation exposures, of its owners. Contractor RRG companies allow members who engage in construction activities to write liability insurance for all or any portion of the exposures of group members, excluding first party coverages, such as property, worker’s compensation and personal lines, such as home, auto and recreational vehicles. Authorization under the federal statute allows a group to be chartered in one state, but able to engage in the business of insurance in all states – subject to certain specific and limited restrictions. The Federal Act preempts state law in many significant ways, therefore RRGs are not subject to the individual state laws that would otherwise prohibit the formation of group captives or make it difficult to form or operate them. Contractor Risk Retention Group Advantages: Avoid state filing and licensing requirements Membership controls risk and litigation issues Elimination of market residuals No expense for fronting fees Un-bundling of services Exemption from countersignature laws for agents and brokers Stabilize coverage and rates Contractor Risk Retention Group Disadvantages: Risks are limited to only liability insurance Not permitted to write non-related business No guaranty fund availability for members for claims May not comply with certificate requirement or financial responsibility laws While the Exchange was promulgated as a Lloyd s-type facility, what has evolved is a group of individual underwriting syndicates, utilizing the authorities earned by the Exchange, to provide capacity in a wide variety of programs or niche underwriting....
GENERAL CONTRACTORS Licensed general contractors and other trade contractors who subcontract labor from yours and other business types must comply with their own general liability insurance policy by requiring all subcontractors to provide a contractor Insurance Certificate with an Additional Insured Endorsement (AI) – to get more jobs. The AI requirement will also extend to you – after you buy a general liability policy – you too must require any business you hire as a subcontractor to name your company as AI on their policy. Additional insured endorsements range in price from free to $500 or more, depending on the exact requirement. Most insurance company rated with LiveRate® include unlimited basic AI endorsements – at no additional charge – which is why you should shop online for the lowest rate. PROPERTY MANAGERS Commercial and residential property managers – as well as many individual landlords have a short-list of contractors who are called for installation, remodel and maintenance services – and will only hire an insured contractor. Get on the contractor insurance certificate list – and get more jobs as soon as today! Compare Rates Online REFERRAL SERVICES Contractor Insurance Certificate BUSINESS LICENSE Contractor Insurance Certificate ADVERTISE Sample Contractor Insurance Certificate ...
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HERCULES, CA. — City officials in the small Northern California town unanimously adopted a business killing resolution to ban inflatable play structures “bounce houses” at City parks and/or facilities due to “liability concerns”. What will they ban next in Contra Costa county, jogging, bike riding, and… aerobics? During the meeting the City’s council also directed the city staff to draft an ordinance to attach monetary fines and penalties against violators. Parks and Recreation Director Pedro Jimenez said the city’s concern over bounce house liability has been plaguing Hercules for years following a single indecent which caused the city some undisclosed level of liability. The issue was first discussed in 2004, he said, and the city agreed to require permits for inflatable jumpers in the park — and restricted the number to two per park at a time. Then in 2008, Hercules stopped issuing the permits altogether because the city’s insurance agency does not provide liability coverage for the inflatable jumpers. Even if inflatable company owners offer insurance, the coverage may not be enough, and if someone gets hurt at a city park and then sues the city, the city would be financially liable, he said. However, my opinion as an insurance agent who does provide liability coverage for inflatable jumpers with additional insured endorsements naming the city as additional insured with up to $2,000,000 coverage per claim, the ban limited to parks is arbitrary, overreaching and shows a lack of care for park users, local businesses, and fun for kids. Get a Bounce House Rental Insurance Quote CLICK HERE Signs will advise park visitors of the ban, and Parks and...
As many as six (6) or more injury claims will likely be filed in Atlanta as a result of a bounce house accident during an Atlanta mall festival. Several children were hurt – and six were taken to the hospital – when an inflatable slide they were playing on toppled over suddenly during the Greenbriar Mall annual Fall Festival Atlanta Georgia. One child’s mother says she watched in horror as her 7-year-old son fell straight down from the top off of the slide. Then said she wants the mall or the party rental company to pay for her son’s medical bills. This single inflatable accident may invoke multiple types of coverage such as Accident Participant and General Liability, not to mention legal expenses to defend the rental company against any lawsuits....
QUESTION: Do I need insurance if I own my own really small business? ANSWER: Absolutely, because let’s face it “accidents” happen. Why lose it all because you failed to buy reasonably inexpensive insurance? Do your clients trust you – do you trust them – with your business? Even rental equipment companies like Jungle Jumps – a worldwide supplier of commercial grade bouncers – knows that having insurance is an absolute must, especially for really small businesses. In their article titled “Your Inflatable Jumper Business and Insurance” Jungle Jumps writes “One of the best things about having insurance is that people will feel much more comfortable renting a jump house from you. They will know that should anything unforeseen happen, they’ll be covered by your insurance. And you can rest more comfortably as well, as you’ll know that if something does happen, because no matter how diligent you may be you never know when an accident will occur, you’ll be saved from going completely bankrupt.” Do you want to go bankrupt for providing equipment – for someone else’s fun? Bond your business and advertise your rental company as ‘bonded’ for only $50 per year! Click here for a...
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