California Contractor News

A Contract Performance and Payment Bond is a type of surety bond used in construction and other contracting projects to provide financial security and ensure that contractors fulfill their contractual obligations. It typically consists of two components: 1. Performance Bond Guarantees the contractor will complete the project as outlined in the contract. Protects the project …

What is a Contract Performance and Payment Bond and How Do I Buy One? Read More »

A bid bond is a type of surety bond issued by a third-party guarantor (usually an insurance company or a bank) to ensure that a contractor will honor the terms of their bid and enter into a contract if awarded the project. Bid bonds are commonly used in construction projects, especially in public or large-scale …

What is a Bid Bond, How Much Do They Cost, and How Do I Get One? Read More »

We understand that maintaining valuable relationships with your customers, vendors, and subcontractors are key to the success of your business. You take pride in the quality of your work which, by extension, includes the quality of your subcontractors’ work. Therefore, it’s important to consider potential unique circumstances and risks when hiring subcontractors. POTENTIAL BUSINESS LIABILITIES …

The 6 Biggest Risks Contractors Make in Hiring Subcontractors & How to Avoid Them – CYA 101 Read More »

Let’s face it. No one loves shopping for insurance, and most contractors, especially New contractors, buy General Liability insurance Based on Price. Big Mistake! Buying your General Liability Insurance based on price alone is the biggest mistake you can make.  It’s not your fault and our industry doesn’t help. As a new contractor or a …

The Biggest & Most Disastrous Mistake Contractors Make When Shopping for General Liability Insurance – Hint – Never Buy the Cheapest Insurance! Read More »

The short answer is YES. Independent contractors need insurance for a variety of reasons. IMPORTANT: You do not have to be at fault to be sued. If you are sued by a client, then you will have to take the time to deal with the lawsuit and spend your own money on a lawyer, even …

Do Independent Contractors Really Need General Liability Insurance? Read More »