When most insurance agents hear the RWC Insurance Advantage offers Claims-made general liability coverage, they warn their general contractor customers to stay away from it. They say you’ll be trapped by the “gap” in coverage that will open up the moment you try to leave. What happens upon termination of coverage is one of the biggest arguments against Claims-made. The way some agents talk, you’d think Claims-made is like the old children’s poem “The Spider…Read more
Certificates of Insurance: What Could Go Wrong?
As insurance agents we hear it all the time; are certificates really that important? If my subs’ certificates aren’t current, am I on the hook for what their policies don’t cover? What about exclusions on my policy? Maybe a hypothetical claim will help provide some answers. Let’s say you contract with a roofer. He’s not the roofer you usually work with but, he has a good reputation and he gives you a certificate of insurance…Read more
Beware of the Subcontractor Gap
Your RWC Sales Representative has told you all about the RWC Insurance Advantage.* By now you know that we offer General Liability coverage that goes hand-in-hand with the RWC warranty program. Being a general contractor, almost all of your work is performed by subcontractors. You only work with those that have their own general liability and name you as additional insured. You’d expect your insurance company to cover you if your sub’s policy has insufficient…Read more
How Safety Meetings Can Lower Your Insurance Costs (EARN UP TO 25% DISCOUNT!)
If you’ve been a builder for more than a few years you’ve been through a lot. When the housing bubble burst; you survived. Now that the market is better and your business is growing, you’re starting to realize the rewards of surviving. There are still plenty of challenges and one of them is to find qualified subcontractors. Recently, you started a new subdivision and hired a flat concrete contractor you’ve never worked with before,…Read more
Can’t Always Make Lemonade When Life Hands You Lemons?
On August 14, 1173 Bonanno Pisano, began construction on a 183’ high marble and stone bell tower in Pisa, Italy. It took nearly 200 years to complete, but trouble started long before. Within five years of breaking ground the bell tower began to lean due to a shallow foundation set in unstable subsoil. The design was flawed from the beginning. A builder’s worst nightmare? Just the opposite. Today the Leaning Tower of Pisa is one…Read more