Have To Acquire Bonds In Brazos County?

The Best Resource for Bonds is Service Insurance Group

Call 979-300-7345!

The role of a general contractor is extremely important within the building community. 

Due to the significance of this job, it is necessary to identify Bonds in Brazos County to be certain each event - both standard and uncommon - certainly will not bankrupt your organization. 

Exactly what are the issues that may happen to place a company at risk to contending with upset clientele - or possibly a suit?

  • Waivers signed by clientele and employees don't address all things!
  • Personal injuries while at work to workers, clientele, and people in the area!
  • Being held responsible for negligent or malevolent activities of a worker!

There's a lot of identical events that a builder could have to deal with - which is why looking for Bonds in Brazos County is critical to the favorable outcome or lack of success of the job.  If you are puzzled and do not comprehend how to recognize which Bonds meets your requirements, you will need to look for an insurance agent in Brazos County that understands just what you don't fully understand regarding Bonds and will lead most people in the correct path. 

You require the assistance of the specialists at Service Insurance Group!

Contact Us Here!

Just what are the best top reasons that any general contractor should consult with the workers at Service Insurance Group when searching in Brazos County for Bonds?

  • We are right here just where you need to have us - not away in some outlying office!
  • We've been assisting clients with Bonds for 27 years - we are familiar with insurance protection!
  • We want to allow you to deal with the risks in the building construction industry - that is our niche!

Insurance is a very unique area - understanding everything you need to fully understand to decide on the Bonds in Brazos County is not really practical. 

Let the friendly and knowledgeable staff members with Service Insurance Group become your initial and finest choice for Bonds - contact us today!  

Hope To Find Bonds In Brazos County?

Allow Service Insurance Group Discover The Coverage Your Contracting Business Needs!

Call 979-300-7345!

FAQs

Contractors perform a lot of services when a building is under construction – and here are some of the questions that are typically asked in regards to the insurance they need to carry!

Why do contractors need insurance?

Whether your client is a homeowner who wants to add more storage to their attic or a large corporation that needs renovations done on their offices, you're likely going to be responsible for any accidents with regards to bodily injury. Contractors insurance will protect you and your business in case one of your employees or subcontractors is injured on the job. Plus, if someone is hurt as a result of an accident at your place of business such as slips and falls, general liability insurance will cover those claims also.

What does contractors insurance cover?

Different contractor policies can vary greatly in terms of coverage, but insurance for a general contractor's employees will usually include the basics: liability protection from any injuries or property damage your company might cause that is covered by your policy; workers' compensation insurance to cover medical costs and lost wages for any injuries your employees might sustain on the job; and employer's liability insurance, which covers legal fees and any judgments against you if an employee makes a claim against your company.

It also covers bodily injury or property damage that may result from activities of anyone whom you hire to help with your business. If they cause harm to others, your insurance will cover any costs incurred by the victim.

These are usually known as umbrella policies because they "drop down" on top of more specific policies that provide workers' compensation or property damage insurance.

Is contractors insurance required for general contractors in Texas?

No, there is no law requiring contractors to have their own insurance. However if you are found to be negligent in business you will likely lose your assets and future income. If the contractor was uninsured or under-insured, you could collect damages from driving up insurance premiums for other consumers.

However, homeowners may require contractors to show proof of insurance before work begins.

Are there state requirements in Texas for general contractors who work for public employers?

Yes. Because public employees are part of the public trust, some states have passed laws requiring contractors who work on public projects to carry liability insurance for their employees while they are working on public property. This requirement is meant to protect the taxpayers in the event that a contractor or its employee causes damage or harm due to negligence while performing services for a governmental entity.

According to the Texas Department of Information Resources, contractors who work on public projects in Texas must show proof that they carry insurance for bodily injury and property damage. This type of insurance is known as an "umbrella" policy because it provides coverage above other policies the contractor may have in place for their employees or subcontractors.

What is the cost for contractors insurance based on?

Contractors insurance rates are based on your location, the risk of damage in your area, claims history, loss prevention measures you take to reduce risk and many other factors. Automobile liability coverage is usually lower because trucks, trailers and equipment are covered under commercial auto policies.

What type of contractors insurance should I get?

Although it can vary depending on your specific situation, a general contractor should look for an insurance policy that has liability protection, workers' comp coverage and employer's liability y insurance. It can also include property damage insurance, which covers damage caused to other people's property while you are working in their home or business. Umbrella policies provide additional liability off of your homeowners policy.

How do I get contractors insurance?

Most general contractors work with an insurance agent to find the policy that's right for their business. Agents review your company's risk profile and help you choose a policy that fits within your budget. But if you are strapped for time, consider working with an independent contractor who works with several different carriers to find the best policy for you.

What are contractor's insurance claim limits?

Claim limits are the maximum amount of money your insurance company will pay out in damages for one occurrence. For example, if someone alleges that your employee was negligent and damaged their property during a renovation project, it may result in a $250,000 claim against your insurance company. This is why it's very important to have high claim limits in case something unfortunate happens on the job site.

What are the most common policies for general contractors in Texas?

The National Association of Insurance Commissioners (NAIC) suggests you consider the following policy options:

  • Commercial Property insurance to protect your tools and equipment, and cover costs associated with business property that may be damaged or destroyed due to fire, theft or other perils. This can also include coverage for debris removal and clean-up costs after a loss.
  • Commercial Auto insurance to cover vehicles owned by your business, including trucks and trailers. This is especially important if you hire independent contractors or subcontractors who use their own vehicles on the job site.
  • General Liability insurance provides protection if someone claims your business was negligent during a project that led to bodily injury or property damage. These claims can include accidents that happen on the job site, damage to homes or businesses where your company is working, and injuries sustained by your employees while they are performing work duties.
  • Workers' Compensation insurance which covers medical costs for employees who are injured while on the job, including rehabilitation services. It also covers lost wages in some cases when workers can't go back to their jobs after a work-related accident.

Do I need builder's risk insurance as a general contractor?

As a general contractor, you may need builder's risk insurance if you are building or making major alterations to someone else's property.

What does builder's risk insurance cover?

Builder's risk insurance covers the materials and equipment you need to complete a job and protects them from theft or damage. It also covers your own employees while they work on site, in some cases.

What is Commercial Auto Insurance?

Commercial auto insurance provides coverage for vehicles owned by your business including trucks and trailers. It's especially important to add these vehicles to your policy if you hire independent contractors or subcontractors who use their own cars, trucks or other vehicles on the job site.

Do I need commercial auto insurance coverage?

Commercial auto insurance is considered one of the most important contractors insurance policies for contractors because it provides coverage for any vehicles, such as trucks and equipment trailers, that your company owns. It's important to add these vehicles to your insurance policy because if you don't and they get in an accident, the at-fault party could sue your business for damages.

What is Course of Construction insurance?

Essentially, this type of policy covers the costs associated with time delays on construction sites if your project encounters them. For example, say you are building a new 6-story office complex and it's nearing completion after months of work. While you get ready to move in the first tenants, an accident happens that damages some equipment and stalls the project for a few weeks. Even if the equipment was not your responsibility to maintain, you still have to pay damages out of pocket when something like this happens because it's directly related to your job site.

Is Course of Construction insurance different than Builder's Risk Insurance?

No, Course of Construction insurance is often confused with Builder's Risk Insurance. However, the two are very different policies that provide coverage for accidents that might happen on your job site during construction.

Builder's risk provides coverage for injuries to people and damage to property resulting from one particular accident. For example, if a worker falls off a roof while trying to fix shingles and injures himself, builder's risk insurance would cover the medical costs.

Course of Construction covers time delays on a project site caused by certain types of events such as weather conditions or accidents involving tools and equipment on-site. So, in the example of the office complex, Course of Construction insurance would cover additional costs associated with time delays resulting from the accident.

As a general contractor, am I liable for the work of my subcontractors?

Yes, you are considered legally liable for the work done by your subcontractors. If there is a problem with the work performed, it could result in legal action against your business.

What insurance will protect me if I am liable for the work of my subcontractors?

Besides general contractor liability insurance, there are other types of specialized subcontractor's insurance that you should consider purchasing. These policies offer coverage for errors and omissions, which means claims resulting from your subcontractors' work.

What is EPLI Insurance?

EPLI stands for employment practices liability insurance. This type of contractors insurance protects businesses from claims resulting from wrongful termination, sexual harassment and discrimination in the workplace.

If a former employee files a claim against your company for actions that took place while they were under employment, EPLI insurance would cover any legal costs or damages awarded by the court.

Do I need subcontractor errors and omissions insurance?

You may want to consider subcontractor errors and omissions insurance if you hire independent contractors that use their own cars, trucks or equipment on the job site. This type of policy covers damages resulting from things like vehicle accidents, tools being stolen or damaged during work-related tasks.

What is a surety bond?

A surety bond is a type of insurance issued by a surety company that provides financial guarantees. It's a three-party agreement, typically involving a principal (the person who needs some sort of protection), the obligee (the intended beneficiary) and the surety bond provider.

The most common reason for obtaining a surety bond is to complete a job and get paid, which is why it's sometimes called a construction bond. The principal offers the surety bond as financial assurance that they will honor their contractual agreement with the obligee. This type of project-specific contractor insurance provides protection to the obligee if the principal defaults on their obligations such as not completing work according to specifications or going out of business.

Tamie Bittle

Verified

Y'all were my easy button, even though it may not have seemed that way from the start. I was in a rush to secure a builders risk policy for my home renovation after Harvey and SIG came through with a competitive bid and was able to get me covered in my short timeline to start the demo. There were a few miscommunications along the way, but the team was very polite and expeditious to rectify the situation with comfort and professionalism. I will definitely recommend you guys to friends and family. Thanks!
My broker was so patient and efficient.He found us the perfect plan for our company. I will definitely recommend him to anyone looking for insurance.

Amanda Gray

Verified

This company made the process of getting the right coverage at a reasonable rate for our commercial property a breeze. Our agent, Mr. Hurt, took care of everything from start to finish, short from paying for the coverage themselves. I highly recommend them!

Garrett

Verified

Susie Lybarger

Verified

They are very thorough and made me feel a lot better after just talking to them

Ines Tani

Verified

Sue Brinkman

Verified

Service Insurance Group's Customer Service is Excellent. They are very efficient, friendly and Professional. They go the extra mile to make sure they are providing the best option on all your Insurance needs. I would highly recommend everyone to at least get a quote from them, you won't be disappointed.

Juan Guerrero

Verified

We have received the best advice to obtain insurance for our small business. Very grateful to Ryan.

A.J. Reese

Verified

I have been working with SIG for almost a decade now. and they always provide prompt, courteous, and professional service. Also great rates.
Cannot say enough good things about my experience with Ricky and his team at Service Insurance Group. Always prompt responses, extremely helpful, and very professional. I highly recommend their services!

Duilio Tani

Verified

Bradley Hurt did really help us to find the right insurance companies we were looking for. Thank you.

Chris Hunter

Verified

Great people to work with! I think the main reason to go with Service Insurance Group vs a big box carrier is that their agents shop their carriers to find the right insurance for your need and budget. It's better than going to a big box agency as you're not stuck with just one carrier and what they're selling. I highly recommend Service Insurance Group if you're looking for insurance for you or your business!

Gloria Roberts

Verified

people here were so kind, nice n made me feel very comfortable. thanks so much.

Cheryl Calame

Verified

Great service!

Juan Guerrero

Verified

We have received the best advice to obtain insurance for our small business. Very grateful to Ryan.
My broker was so patient and efficient.He found us the perfect plan for our company. I will definitely recommend him to anyone looking for insurance.

rene chaho

Verified

Bradley takes the time to answer my questions every time. Look no further.

JOSIE DELEON

Verified

Great & quick responses! Bradley helped me very easily process! Highly recommend.

Cheryl Calame

Verified

Great service!
Extremely quick and made sure I was getting the right insurance policy that my customers required. Will be coming back for all of my insurance needs.

A.J. Reese

Verified

I have been working with SIG for almost a decade now. and they always provide prompt, courteous, and professional service. Also great rates.
Great Insurance Agency. Very professional and they will search numerous companies to get you the best rate.

Duilio Tani

Verified

Bradley Hurt did really help us to find the right insurance companies we were looking for. Thank you.

Trey Clark

Verified

We use SIG for our primary home, rentals and all of our vehicles. We are extremely pleased with the rates and service we receive from both Brad and Monica at SIG. We refer them every chance we get. We appreciate having a local insurance company we can depend on.

Ines Tani

Verified

Rachel Golden

Verified

SIG has handled our business insurance policies for the last 6 years. Great service and lovely people to work with!
Brad worked with me to find the right product to fit my specific needs. He went above & beyond & I'm so thankful to have him in my corner if/when I need anything.

Trey Clark

Verified

We use SIG for our primary home, rentals and all of our vehicles. We are extremely pleased with the rates and service we receive from both Brad and Monica at SIG. We refer them every chance we get. We appreciate having a local insurance company we can depend on.

JOSIE DELEON

Verified

Great & quick responses! Bradley helped me very easily process! Highly recommend.

Rachel Golden

Verified

SIG has handled our business insurance policies for the last 6 years. Great service and lovely people to work with!

Nick Johnston

Verified

Service Insurance Group is the only locally-owned / operated full-spectrum insurance provider I would do business with. They are simply outstanding: professional, responsive, caring, and customer-oriented. Thank you!!!

rene chaho

Verified

Bradley takes the time to answer my questions every time. Look no further.
Great Insurance Agency. Very professional and they will search numerous companies to get you the best rate.

A.J. Reese

Verified

I have been working with SIG for almost a decade now. and they always provide prompt, courteous, and professional service. Also great rates.

Chris Hunter

Verified

Great people to work with! I think the main reason to go with Service Insurance Group vs a big box carrier is that their agents shop their carriers to find the right insurance for your need and budget. It's better than going to a big box agency as you're not stuck with just one carrier and what they're selling. I highly recommend Service Insurance Group if you're looking for insurance for you or your business!

Nick Johnston

Verified

Service Insurance Group is the only locally-owned / operated full-spectrum insurance provider I would do business with. They are simply outstanding: professional, responsive, caring, and customer-oriented. Thank you!!!

Sue Brinkman

Verified

Service Insurance Group's Customer Service is Excellent. They are very efficient, friendly and Professional. They go the extra mile to make sure they are providing the best option on all your Insurance needs. I would highly recommend everyone to at least get a quote from them, you won't be disappointed.

Tamie Bittle

Verified

Y'all were my easy button, even though it may not have seemed that way from the start. I was in a rush to secure a builders risk policy for my home renovation after Harvey and SIG came through with a competitive bid and was able to get me covered in my short timeline to start the demo. There were a few miscommunications along the way, but the team was very polite and expeditious to rectify the situation with comfort and professionalism. I will definitely recommend you guys to friends and family. Thanks!

Sharon Rose

Verified

The response time was very quick. My needs were understood and met. Any concerns I had were addressed and explained. I did not get an automated system when I called. It was a pleasure to work with them.