By Ariana Ramos | SVP Business Development
Vela’s Velocity Small Business: Protection for the Contracting, Products/ Manufacturing & and Service Oriented Sectors
Vela has unveiled its latest product, Velocity Small Business, accompanied by a dedicated underwriting team. This innovative offering extends protection to a diverse range of small businesses operating in the Contracting, Products/Manufacturing, and Service Oriented sectors.
Contracting businesses can benefit from multi-state coverage, excluding New York. On the other hand, Products/Manufacturing or Service Oriented businesses enjoy comprehensive coverage across all U.S. states and even foreign sales.
Prohibited Classes of Business:
• Janitorial, Fire Suppression Contractors (wet work), Trucking & Hauling
for Hire, Hospitality, Habitational or Premises Based Risks, Torch Down Roofing Operations
Qualifying Size of Risk:
• $2m receipts maximum and/or $750k payroll maximum
Territory:
• Contracting Business – Multi-state coverage except New York.
• Products/Manufacturing or Service Oriented Business – All U.S. States & Foreign Sales
Coverage Limits:
• $1,000,000 or $2,000,000 Per Occurrence
• $2,000,000 General Aggregate
• $2,000,000 Products/Completed Operations Aggregate
• $1,000,000 Personal & Advertising Injury
• $100,000 Damage to Premises Rented to You
• $5,000 Medical Payments
Vela’s Velocity Small Business ensures that small operations receive tailored protection, offering a sense of security in the dynamic landscape of business activities.
To learn more, click here to get in contact with a broker from Telamon!
