Construction Business Owner, May 2008

Editor's Note: This is the first article in a three-part series about commercial auto insurance.

As a business owner, your vehicles are the backbone that keeps your business up and running.  Just like you would never go on a job without the tools of your trade, you should never drive your business vehicles without the right insurance coverage.

Construction Business Owner, November 2007

Several days of relentless rain were starting to cost real money. Like all construction companies, this excavation specialist had built weather delays into the contract for its work on a major new office building project. But the company’s own estimates of potential weather delays—not to mention historical rainfall averages for the time of year in this city—were already under water. Now, the ground was saturated, and the forecast was for more of the same. Expensive equipment sat idle. Schedules were out the window (this was supposed to be the dry season). Penalties couldn’t be ruled out. Cash would be getting tight.

With fewer construction companies competing for work in a still healthy construction market, opportunities to expand market share are within reach for some. The problem for many contractors, however, is they cannot take on larger projects unless they increase their bonding capacity. Unfortunately, as a result of losses in recent years, sureties have gone back to the basics in bond underwriting: A contractor has to earn the bond line, and earn it every year.

If you gave more thought to buying your last pickup truck than you did to choosing your current business insurance policy, you're not alone.