Summary
This guide outlines five effective strategies to enhance insurance coverage for subcontractors, authored by Drew Boyd of Jefferson Maxey Consulting. The document emphasizes the importance of having a 'per occurrence' General Liability deductible instead of a 'per claim' deductible, as this can significantly reduce out-of-pocket expenses during claims. It advises raising debris removal limits on property policies to at least $200,000 to cover potential costs after a loss. The guide also recommends obtaining 'Agreed Value' on commercial Property and Inland Marine policies to avoid complications with coinsurance during loss payments. Furthermore, it suggests removing 'fellow employee' or 'co-employee' exclusions from General Liability and Auto Liability policies to ensure coverage for injuries among employees, particularly for executives and supervisors. Lastly, the guide stresses the necessity of including Auto Insurance and Employer’s Liability in Umbrella/Excess policies to avoid gaps in coverage, particularly in auto-related incidents.
