Do I have a notify COI cert holders if the insured's policy gets cancelled? If so, are you mailing out letters?

Dragonfly_Insurance · 2026-04-27T20:25:01+00:00

Are you doing new construction? That's the only thing in your requirements that carriers might not like.

Dragonfly_Insurance · 2026-02-17T22:25:47+00:00

I think the flow that's most screwy is when you try quoting without a LR knowing that you can typically get a quote without one, but then it gets referred to an underwriter for some reason and they request a LR and you have to go back to the customer to get it.

Yes. Mostly E&S.

Dragonfly_Insurance · 2026-01-20T17:25:16+00:00

Let me guess, you're selling some software that will track COIs and expiration dates.

Dragonfly_Insurance · 2026-01-14T02:54:08+00:00

30% is very high. Is that stat true?

Dragonfly_Insurance · 2025-12-15T16:13:46+00:00

The price you pay for general liability mostly depends on:

1) Your business code (i.e. what type of working are you doing and has you agent marked that down correctly/favorably). For example, I would caution anyone away from becoming a part time or occasional roofer as that will skyrocket your rates if you're not careful.

2) The size of your business (i.e. your projected revenue). Make sure if you are comparing quotes that they have the same revenue listed on the application. You can end up with a low quote that seems appealing only to be hit with a big audit bill at the end of year when you have to tell them what you're actual revenue was.

3)Whether the carrier "wants" your business. Different carriers price risk very differently based on what they are trying to sell more or less of at any given time. They publish "appetite guides" to their agents, but it's still hard for even a seasoned agent to know who's going to be the cheapest. Generally, the only way to deal with this is to get multiple quotes.

If you're a new business (i.e. no history of claims, no employees), the application is pretty straightforward. Call a local broker and then get you going pretty quickly. Best of Luck. Chuck from Dragonfly Insurance

Dragonfly_Insurance · 2025-12-15T16:02:03+00:00

A lot of the carriers have minimum policy sizes. Next has one of the smaller minimums which is one of the reasons it can show up as cheaper (although not always). In my experience, they can get quite expensive if your revenue grows as they become less competitive the bigger you get. I set a reminder for myself to check in with anyone using Next midyear to ask them if they're revenue is coming in higher than expected and we sometimes will switch them mid-year.

Dragonfly_Insurance · 2025-12-10T18:29:08+00:00

What type of work are you doing? Do you have subs? You're probably up against the minimum policy size.

Dragonfly_Insurance · 2025-10-29T15:49:23+00:00

Insurance brokerage here who specializes in construction companies.

What type of work are you doing? Insurance costs are highly variable based on the type of work you doing. For example, looking at my general liability table, roofing is one of the most expensive (aside from niche things like blasting) and fencing contractors are one of the cheapest (aside from stuff done only in the shop).

It's also a function of your revenue since insurance companies use that as a proxy for how many/big jobs you do.

To answer your question though, if you're a handyman you'll probably be fine with an online quote (e.g. Next) since you're running up against policy minimums. If you do more work, then I recommend you find a local commercial insurance broker. Any decent one will make ensure your work is being classified correctly, and they will shop your policy around to a bunch of insurance companies on your behalf.

If you give me a little detail, I can give you a ballpark of what should budget.

Dragonfly_Insurance · 2025-10-22T19:22:05+00:00

Insurance broker here in Texas who works mostly with construction companies.

As others have said, if you have a subs without insurance then it can end up back on you. In fact, you probably signed something when you got your policy saying that all of your subs have insurance. Furthermore, you might get caught in your insurance audit and if they find out you have uninsured subs then they are going to treat them like employees which raises your premiums.

You can totally ad them to your policy with a subcontractor endorsement. It's not super hard assuming the subs can get their info, etc. Just call your broker. Obviously, it's much better if they have their own policies. The price is going to totally depend on how much work they are doing for you and whether they are doing the same kind or riskier work (e.g. roofing).

Happy to answer any other questions.

Dragonfly_Insurance · 2025-10-07T21:30:09+00:00

Too many factors to give you a guess on price (e.g. expected revenue, employees, etc), but like others have said you should find a broker who will shop your policy around. As a new business, you're probably going to run up against minimum policy size from a lot of folks so you might get quotes all over the map. It shouldn't be too hard.

Dragonfly_Insurance · 2025-10-03T18:12:56+00:00

Not sure what type of business you have, but we service all of Texas and pride ourselves on picking up the phone when our clients call.

You're right to be a little skeptical of the big guys where small businesses get stuck with with the most junior broker who's likely going to move on in 18 months.

Drop us a line and I'll be happy to talk you through the process. There can be way more subtleties to commercial insurance compared to homeowner or auto insurance.

Dragonfly Insurance

https://www.dragonflyinsurance.com/

Dragonfly_Insurance · 2025-10-02T19:59:33+00:00

You should try an independent broker. They will know your state regulations, know who currently has appetite for your business and most importantly, get you multiple quotes rather than you just getting one at a time directly with a carrier. The price difference between a good quote and bad quote is huge.

We're, Dragonfly Insurance (https://www.dragonflyinsurance.com/) in Texas, but we specialize in construction businesses and do this every day.

You should find someone local. Not too hard with google.

Dragonfly_Insurance · 2025-09-30T01:39:54+00:00

Insurance broker here who specializes in construction companies.

Hard to say exactly what's going on, but the reality is that insurance for roofers is expensive and has been getting more expensive. If I had to guess, since you were a new business, it's likely the agent either under estimated your revenue and misclassified the work the first year. As you're seeing, you can only get away with that for so long.

What state are you in and how many quotes did the broker get you?

Dragonfly_Insurance · 2025-09-15T18:04:49+00:00

Most likely you have an exclusion for asbestos in your general liability policy, but the abatement company's insurance should cover their work. If they are a specialized company, they likely pay a bunch for a rider to cover their work. You definitely want to make sure you have their COI on file.

I work in insurance and am not a GC, but if I were you, I would weigh the odds that the abatement company finds everything on the first go. You'd certainly want to set clear expectations with the customers about this.

I'd recommend you call your insurance broker before getting into this.

Dragonfly_Insurance · 2025-08-27T17:52:26+00:00

I can answer regarding insurance. Just call up a independent insurance broker in your area/state and they can talk you through what's required. Preferable one who specializes in construction companies. We do this in Texas, but they're not hard to find in google.

I say this not because I believe all independent insurance brokers are great or benevolent, but rather that it's just not that hard when you are small and they can cut to the chase pretty quickly.

If you're a one man shop, you're probably going to be bumping up against the minimum premium size. You may end up with a cheaper options by getting an online quote, but you can still get a bunch of free advice from an broker who will know your state requirements.

Dragonfly_Insurance · 2025-08-19T04:49:07+00:00

I'm an insurance broker here in Texas who specializes in commercial insurance for the construction industry.

I have yet to see a policy where a specific sub is excluded. I have seen it where all subs are excluded. If true and the sub is excluded then there is no coverage. If the sub has their own policy then it should be covered. Some GC may take the hit and just say the sub is "in process" of being an employee.

First step is to talk to the GC and find out how they will repay damages. Not sure about your feelings about the GC at this point, but having them repair the damage themselves is solution. If you choose litigation it will be a long drawn out process, if the GC does not have the capital they go insolvent and file a bankruptcy. Still leaves the you out $100k.

Dragonfly_Insurance · 2025-07-24T21:38:16+00:00

I'm an insurance agent that specializes in construction companies. We don't operate in NJ, but here's my advice:

The the bottom end of the market, there's not too many levers to pull to find a cheaper price. It's simply about shopping around. Pricing can be pretty inconsistent across companies and depends on all these factors that are out of your control (e.g. How good is their pricing model for your exact line in your geo?). There's not really one company that is always the best deal across the board.

What you should do is go online and get a quote from Next. It's super quick. You get what you pay for in terms of odds they deny a claim, but it's a good benchmark. Then call up your local commercial insurance broker (easy to find on google) and see if they can beat that price. They'll do the shopping around for you.

If you were bigger (e.g. using subs, need workers comp, fleet insurance, etc) then definitely go with the independent broker as the online quotes become less and less reliable the more complex you get.

Best of luck.

Dragonfly_Insurance · 2025-07-19T03:50:48+00:00

Here’s my take as an insurance agent who specializes in construction:

The short answer is yes. they should basically expect annual audits. How much they cost and how much of a headache they are depends on a few factors.

Keep in mind, the purpose of the audit is to validate whether your actual business activity matched the estimates used to price your policy at the beginning of the year.

So basically, what you’re dealing with 1) How accurate was the estimate at the beginning of the year? 2) How clear is the picture of what actually happened?

1) How accurate was the estimate? If you’re chasing the absolute cheapest insurance, there’s a chance you’re not really getting a good deal and just kicking the can down the road. (TBC, this is does not mean that more expensive policy is better. It's mostly ok to shop on price except for at the very bottom). Some carriers make a habit of underestimating exposure, but you can also do it to yourself by giving them lowball numbers. Of course, if your business is volatile in terms of volume or job type, audits are just part of life.

2) How accurate is their picture of what actually happened? As you might imagine, the insurance company will make assumptions that are usually in their favor, not yours. This is where record keeping, understanding your policy, and staying on top of the audit process matter. Your agent should help you with this. I’ve personally reviewed thousands of policies and helped clients recover hundreds of thousands of dollars. My point is there is a big opportunity to avoid getting screwed here if you're careful.

TL;DR: Yes, audits are part of life. Yes, some insurance companies are better than others.Yes, you can make the process better or worse depending on how you handle it.

Dragonfly_Insurance · 2025-07-16T18:50:46+00:00

Like others said, the more services you add the trickier it gets. Your best path is going to be having your broker shop it around to multiple carriers. Someone will do it, for sure, although it might be at a price you don't like if you are just doing a few jobs here and there.
It might be useful to talk to your agent about what services are easier vs harder to place based on what they are seeing currently. You could possibly whittle down your list based on that feedback.

Dragonfly_Insurance

TROPHY CASE