Contractors: Choose Your Insurance Agency Carefully

Contractors: Choose Your Insurance Agency Carefully

In your work as a contractor, almost every job you take on will require the issuance of a surety bond in New Jersey. To beat the competition, you need ready access to these bonds, quickly and easily, without delays or overpayment. This is where your insurance specialist comes in.

Why You Need a Bond Specialist

Sometimes contractors mistakenly choose an insurance agency where contract surety bonds are only written as a sideline business. The harm in this is that the agent just doesn’t have the in-depth knowledge to handle these bonds, which can result in delays in issuance. The agency also might not have access to a variety of surety bond insurance carriers, since, as a sideline business, the agency will be unable to provide a large enough volume of business to suit most insurance underwriters. This can result in the contractor overpaying.

What to Look for in Choosing Your Insurance Bond Specialist

When setting up a relationship with an insurance agency, look for the following characteristics that will help ensure your success in obtaining the surety bond in New Jersey that you need on a timely basis, and at a fair price:

  • Years of experience in placing contract surety bonds in your area
  • Access to many different insurance carriers so your needs can be customized
  • The agency understands the time-sensitive nature of surety bonds

By lining up the right insurance specialist in advance, you will be adding to the potential success of your contracting business.

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