By Ariana Ramos | SVP Business Development
Vela: Contractors General Liability
Discover comprehensive insurance solutions tailored for contractors with Vela Insurance Services. Specializing in excess and surplus lines, Vela extends its exceptional coverage through an exclusive network of wholesale brokers.
The Top 10 Classes covered include:
- Residential Remodeling
- Commercial General Contracting
- Concrete Construction
- Excavation/Grading
- Plumbing—Commercial/
Residential - Homebuilders
- Residential Roofing
- Masonry
- Electrical Work
- Swimming Pool Contractors
Prohibited Classes of Business:
New condominium construction, blasting contractors, architects/ engineers/surveyors, employment agencies, and consultants other than construction managers.
Territory:
Multi-state coverage, excluding NY.
Coverage Limits:
- $1M/$2M/$2M
- $2M/$2M/$2M
- $2M/$4M/$4M
Coverage types available:
• Practice policies for both general contractors and subcontractors
• Project specific policies for the owner/general contractor or the owner’s
interest only
Minimum Premium:
$10,000 for most classes
Exceptions: concrete/foundations, plastering/stucco, commercial roofers, and general contractors
Minimum Deductible:
$2500 with higher deductibles/SIRs available
To learn more, click here to get in contact with a broker from Telamon!
