Bart Taylor Insurance – Business and Commercial Property Insurance in Austin

Fundamentals of Construction General Liability Insurance for Contractors

barttaylorins — Mon, 30 Aug 2010 01:47:58 +0000

This is the beginning of a series for Construction Risk Insurance for contractors in Texas. Before you’re able to know if you’ve got a good construction general liability policy, you should consider the following steps that your construction company has anticipated and properly treated it’s risk…
Risk Identification
For a construction general liability policy, this is the most crucial step. Please consider direct property losses to commercial property, indirect commercial property losses, construction general liability losses and injury to personnel which would require workers comp insurance.
One excellent tool for risk identification for your contractors general liability policy is your financial statements. These provide a tremendous amount of risk management information. The balance sheet shows the value of all assets and your income statement shows major sources of revenues and expenses.
Risk Analysis
Risk should be evaluated according to the impact it would have on your construction company. Your exposures should be prioritized on what would have the largest financial impact to your company. It’s important to not only recognize the obvious direct cost of losses but also the indirect losses.
Risk Control and Risk Transfer
Risk Control for your general liability insurance policy can be summarized as either loss prevention or loss reduction. These can be as simple as providing education to your employees and your subcontractors. Risk transfer could be the purchase of a general liability insurance policy. This “assigns” the risk to the insurance company. Risk transfer could also be accomplished through an indemnity clause or hold harmless agreement. It’s always a good idea, whenever possible, to have your subcontractors sign a “hold harmless” agreement to protect your company against the subcontractor’s actions.
Of course, no insurance policy completely protects the risk a contractor faces. Please call Bart Taylor Insurance for all your commercial property and business insurance needs.

The Builder’s Risk Policy – Important Insurance Coverage that Protects More Than a General Liability Policy

Bart Taylor — Wed, 18 Aug 2010 17:12:39 +0000

Why do I need Builder’s Risk Insurance on top of my General Liability policy?

Builder’s Risk Insurance provides building owners and general contractors with insurance coverage for a wide range of risks when buildings are under construction. The Builder’s Risk Policy is a special property insurance policy that protects insurable interest in materials, fixtures, and equipment used during construction or building renovation. Coverage provided is similar to typical commercial property insurance.

Fire – high winds – a worker falls while on the job. Builder’s Risk Insurance indemnifies the building owner or general contractor against losses due to fire, lightning, wind, or vandalism. Limited coverage for a building collapse is often included, and exclusions are clearly indicated in the policy, such as earthquake, flood or water damage, war, employee theft, and mechanical breakdown.

General Liability Insurance is designed to provide protection against third party claims and payment is typically not made to the insured.

Click here to learn more about specific coverage provided in a standard Builder’s Risk Policy.

The Builder’s Risk Policy is designed to provide special coverage during the construction period and is usually terminated when work is completed. Certain property insurance policies will cover renovations or additions to an existing building, however it is essential to review your policy coverage to ensure sufficient protection is in place before a project begins.

Coverage in Builder’s Risk Insurance is generally intended to protect a property owner from sudden accidental events and generally excludes damage resulting from faulty design or poor construction.

Learn more about business insurance in the next installment of Insurance Insights, brought to you by Bart Taylor Insurance.

Protecting Your Commercial Property

Bart Taylor — Sun, 08 Aug 2010 14:34:41 +0000

Commercial Property Insurance protects your business investment in a wide range of scenarios that you could not predict. The main water pipe in the building bursts. A storm damages the roof or causes a flood. A fire destroys a majority of the property.

Let’s hope catastrophe does not strike. You still want to protect your business with commercial property insurance from more common incidents.

A storm may be more likely to damage your outdoor sign or fence. Property Insurance provides you with coverage for your building, outdoor signage, fence and landscaping, along with the building contents such as furniture, equipment and inventory. Your building contents are insured through your commercial property insurance policy.

At Bart Taylor Insurance, we offer personalized service and educate business owners on insurance coverage that meets your unique business insurance needs. We develop long term relationships and work with property owners to provide protection, whether they need insurance for development projects, office buildings, retail shopping centers, apartment buildings, commercial warehouses, buildings for industrial use or manufacturing, hotels, medical facilities or mixed use occupancies.

Our goal is to assist you in obtaining the most protection for the best value by evaluating commercial property insurance policy quotes. We guide business owners through the process of selecting a commercial property insurance policy by educating you on the most suitable insurance options for your business.

Learn more business insurance in the next installment of Insurance Insights, brought to you by Bart Taylor Insurance.

Business Insurance and Commercial Property

barttaylorins — Tue, 13 Apr 2010 08:24:26 +0000

Bart Taylor Insurance is a full service insurance agency based in Austin, TX.

We deliver personalized service and proactive advice, giving you peace of mind to focus on what you do best.

We are a trusted company that’s fully committed to providing Texas businesses and Texas commercial property with quality

insurance. Our goal is to provide you with the best coverage and the best rate for your business and commercial property.

It’s not just about how we handle insurance, but how we treat people.

Bart Taylor is a registered agent with the Farmers Insurance Group of companies.