Contractor Insurance & Bonds
Madison Avenue Insurance Group knows that contracts between clients, additional insureds and insurance policies can be complex and require special care. With that, we offer dedicated, knowledgeable staff in our contractor division.
We embrace accounts with high coverage and complex service needs.
Insurance Coverage Offerings
- General Contractor Liability
- Artisan Contractor Liability
- Developer Liability
- Builders Risk Property and Liability
- Construction Wrap Programs
- Pollution Liability
- Commercial Auto
- Heavy Equipment and Tools
- Installation Coverage
- Business Owners Policies
- Professional Liability
- Business Health Insurance Plans
- Workers Compensation
Bonds
Construction bonds are a type of surety bond that protects against disruptions or financial loss due to a contractor’s failure to complete a project or failure to meet contract specifications. These bonds ensure a construction project’s bills will get paid.
Typical construction bonds: Licensing Bonds, Maintenance Bonds, Bid Bonds, Performance Bonds. Madison Avenue Insurance Group works with all types of construction bonds and credit ratings.
Builders Risk – Insuring Projects Under Construction
Protect you or your client’s investment while under construction from start to finish.
Builders risk insurance provides coverage for buildings while under the course of construction or remodel. These policies can pay for a full rebuild to include materials, supplies and soft costs such as permitting and architectural design should the project be destroyed due to covered risks such as fire or wind.
The builders risk policy can be purchased by the owner, contractor, or bank. They generally do NOT include liability, so you will want to make sure the owners have an owner’s protective liability policy to cover liability claims not affiliated with construction.
Do you need pollution liability coverage?
The list of substances considered as pollutants is expansive. From small seemingly low risk businesses like landscapers to large environmental companies removing mold or asbestos are at risk for pollution liability events.
Common pollutants: Asbestos, pesticides, chemicals, weed killers, oil based paint, gas, sewage, and mold to name a few.
Hazardous waste materials you store or work with can produce injuries to people, wildlife, and water. Pollution clean-up can be very expensive as well as restitution payments for damages.
Claim Scenarios:
- Weed killer leaks into a steam killing wildlife.
- Mold due to faulty construction causing the homeowners to become sick.
- Building demo accidentally punctures a gas line causing major spillage.
- Contractor drills into a sewage line pumping sewage into school yard.
Types of Pollution Liability Insurance
Pollution Legal Liability for both on or off-site pollution claims for bodily injury, property damage and clean-up costs.
Professional and Contractor Environmental Liability provides pollution legal liability as it relates to your professional services to include recommendations and advice you give by trade.
Trucking Pollution Insurance extends coverage to hazardous materials while being transported from one location to another. This coverage is usually rolled into a pollution liability policy or contractor environmental general liability policy.
Storage Tank Pollution Liability for business’s that own tanks storing hazardous materials, such as fueling stations.
We have very competitively priced programs and are constantly looking at new markets for this ever-changing trade.
Premium Financing is available on most policies. All credit ratings are approved.
Liability insurance covers claims made against your business by someone who has experienced or claimed to have experienced bodily injury or property damage. It can also provide coverage for injuries sustained from your product, claims for libel, slander or defamation, and claims filed by your employees or other 3rd-parties.
Coverage includes legal and defense costs.
Employers & Customer Discrimination Coverage
First party Employers Practices Liability coverage protects you from discrimination, harassment or wrongful rental/eviction type claims brought on by your employees.
Third party Employers Practices Liability coverage protects you from claims brought by your customers, vendors or suppliers.
Coverage includes can include legal costs which can add up quickly.
Loss of Income Coverage covers the loss of income due to damage to a company’s physical property. While property insurance covers physical damage, business income coverage pays for lost revenue during the restoration period. Coverage includes costs to relocate while repairs are being made.