Construction or Contractor Insurance 

Coverage is for "All Risks" of direct physical loss including Flood and Earthquake. Limits of Coverage for Property and Liability are determined by your needs and expressed in the policy contract. Special Conditions to be aware of are Business Interruption due to delayed opening, extra expenses, or Margin of Profit Extension for Contractors. Be sure to review the Exclusions Section of your policy carefully as main exclusions may include contractor's equipment, property in the course of ocean marine shipment, vehicles licenses for highway use and more. We will review these with you and ensure you understand the protection you have so you maintain your peace of mind throughout the course of your construction.

Comprehensive General Liability (Builders Risk "Wrap Up")

This type of coverage is for Legal Liability for compensatory damages because of bodily injury or property damages to third parties arising from all your operations. This includes personal injury, intentional injury caused to protect persons or property, contractual blanket liability, cross liability clause, employees as named insured, incidental medical malpractice, non-owned auto liability and much more. Coverage limits are determined by your needs and expressed in the policy contract; however it should not be less than $2,000,000 per occurrence

Contractor Bonding

For the contractor one of the most important "tools" of the business is a strong supporting surety bonding facility. It is something that is required by many project owners in order to even bid on a job and can be a valuable sales tool as well. Bonding is not insurance. It is a surety, essentially a fiduciary contract with three parties, the contractor, the owner of the project and the surety company.

We have years of experience in dealing with surety companies and know the trends of the industry that can make getting bonds very difficult. You need us on your side to provide the expertise and know-how of setting up and managing the relationship between you and the surety company. Establishing a strong relationship with the surety company is one of the most important goals we promote to our clients as it is paramount to your successful business.

The last three mentioned, are frequently used by contractors as a means of improving cash flow.

The arranging of bonding facilities can be likened to the establishment of banking line of credit. Selection of a bonding company should only be made after consideration of their financial strength, evaluation of their staffing, experience and understanding and their ranking by premium volume in the surety field.

Bonding companies rely on us to have the in-depth knowledge of our contractor's ability, integrity and financial responsibility, as well as their corporate planning and objectives, work on hand and specific jobs being considered.

We make it a regular practice to arrange for contractor and surety companies to meet at a senior management level in order to make the bonding company an understanding and contributing partner to the success of our contractor clients' operations. Our role as broker also extends to assisting in the design of procedures for the early identification of bonding requirements on specific jobs and for the bonds timely production. We can also advise on corporate policy concerning requirements for sub-trades in providing bonding.

With years of experience in negotiating and maintaining surety bonding facilities for many clients, we have developed a mature and informed understanding of both the construction industry and the surety bond business giving us the skills to provide professional advice and service to our clients.

With Hubbard Insurance Group, you can focus on running your business while we work to get competitive quotes for your consideration. To learn more or get a free quote contact us 905-696-9090 or Toll Free 1-800-900-2009 or better@hubbardinsurance.com. Where you will be Well Advised. Well Protected^TM. ™

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