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5 Insurance Secrets Insurance Brokers Don’t Want You to Know

  1. Broker Fees – Always Ask About Xtra Fees You Are Paying:

Insurance Brokers Charge Brokers Fees and these fees can be negotiated. Fees range from $500.00 to several thousand dollars depending on your broker.

Tip:  Ask your broker what additional fees you are paying.  The Contractors Resource Center never has and never will charge fees.


  1. Join a Construction Association:

Joining an association that offers insurance programs can be financially smart as well as beneficial for building relationships with industry professionals.

Tip: Consider joining an association such as the CBIA, NARI, CALPASC or GSBE. Not sure which one to join? Give us a call and we can make a recommendation for you based on your Class Code.


  1. Renewals – Lazy Dangers:

The majority of the contractors we consult with have Auto-Renewed at least one of their insurance policies during the last year.

Tip: Be careful when your broker auto renews your policies without presenting options. Lazy brokers find it easy to Auto Renew with the same carrier year after year. Make sure you see options before you renew.  


  1. Generalist v.s. Specialist:

Most California contractors work with a general insurance agency that provides insurance for a variety of business types. A generalist agency is usually not be aware of the most affordable options and latest carriers offering insurance for your Class Code.

Tip:  We recommend developing a relationship with an agency that specializes in construction insurance and has Direct Access to insurance companies.  


  1. NEW Employee Definitions for 2017:

New Labor Code AB2883 changes the definition of “employee” and the changes the eligibility criteria for officers of corporations, general partners of partnerships and managing members of limited liability companies to elect exclusion from workers’ compensation coverage.  Tip:  Most brokers will not know about this new Labor Code and how it effects your Workers Compensation premiums. Get your free Workers Comp review and see how you can qualify for new lower rates for 2017. ! CLICK HERE


Please reach out to us with specific questions so we can help steer you in the right direction. We want you to have all the information you need to make an informed decision about the contracting resources available to you in the market today.

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