Contractors Supplemental Insurance Application with Soma

Supplemental insurance for contractors refers to policies that provide coverage beyond a standard Commercial General Liability (CGL) policy. This can include Builder's Risk to protect a structure during construction, Inland Marine for tools and equipment, Professional Liability for design errors, Commercial Auto for vehicles, and Pollution Liability. These policies fill critical gaps to ensure you are fully protected against the diverse risks inherent in construction projects.

While General Liability is essential for covering third-party injury and property damage, it doesn't cover everything. It won't protect the building you're working on (Builder's Risk), your tools if they are stolen (Inland Marine), or claims of professional negligence (Professional Liability/E&O). Relying solely on GL leaves your business exposed to significant financial losses from common construction-related incidents, making supplemental policies a necessity.

Builder's risk insurance is crucial for most new construction, remodeling, and renovation projects. It's often required by lenders and project owners before work can begin. This policy protects the structure and materials on-site from damage due to events like fire, theft, vandalism, and weather. Whether you are building a custom home, a commercial building, or performing a major renovation, builder's risk provides vital protection for the project's value.

Our process is designed for speed. After you submit our single, streamlined application, our team gets to work immediately. While the exact timing depends on the complexity of your operations, we pride ourselves on providing a significantly faster turnaround than traditional brokers. Our goal is to eliminate the weeks of waiting and chasing, delivering competitive quotes from top carriers promptly so you can secure coverage and move forward with your projects.

Yes, absolutely. We specialize in finding coverage for businesses that standard markets often decline, including new ventures without an extensive operational history and companies that have experienced prior claims. Our wide network of specialty carriers allows us to find partners who understand the nuances of the construction industry and are willing to underwrite more complex or higher-risk profiles. We believe every business deserves access to quality coverage.

To ensure we can provide the most accurate quotes, you should be prepared to provide details about your business, including your legal name, years in business, and annual revenue. You'll also need specifics about your operations, such as the types of projects you undertake, subcontractor usage, employee count, and details on any vehicles or heavy equipment you own. Having a list of recent or upcoming projects can also be very helpful.

Yes, this is a core part of our service. We are experts at reviewing contracts and loan agreements to ensure the coverage we place meets all specified requirements, such as specific liability limits, additional insured endorsements, and waivers of subrogation. We'll work with you to provide the necessary certificates of insurance (COIs) promptly, ensuring you are in full compliance and can start your project without delays.

Our key difference is the combination of speed, expertise, and access. We replace the slow, traditional brokerage model with a single, efficient application that connects you to hundreds of carriers. Our expert Risk Management Team specializes in complex and hard-to-insure risks, meaning we can find coverage where others can't. With Soma, you get a transparent, seamless experience without the frustration of chasing brokers or waiting weeks for a quote.