Trusted Partners in the Construction Industry
Vela excels at addressing the needs of a competitive marketplace by offering practice policies and project specific policies to meet the insurance needs of your client’s construction operations.
Contractors General Liability
Vela’s Construction team provides Commercial General Liability insurance solutions to general contractors and multitude of residential and commercial contracting trades. We are committed to providing our broker partners with:
- Flexible, competitive pricing
- A dedicated, construction focused, in-house claims unit, working hand in hand with our underwriting team.
- Responsiveness and transparency of terms
- Coverage offered on a primary and excess basis
- Dedicated and knowledgeable staff focused on industry-specific challenges
Vela’s Construction Insurance Solutions
Coverage Capabilities
- Qualifying size of risk- in excess of $2,000,000 receipts
- Contracting Business- Multi-state coverage except New York
- Primary Limits- $1,000,000/$2,000,000 or $2,000,000/$2,000,000 or $2,000,000/$4,000,000
- Excess Limits- up to $5,000,000
Project-Specific
Vela’s project-specific policy provides coverage for the owner of a project for a designated period of time during which the project owner or general contractor may be exposed to liability for additional risk. Our focus is on:
- Small to medium-sized projects with a maximum of $25,000,000-$35,000,000 construction costs
- New construction or remodel of residential or commercial structures
- Custom homes valued up to $5,000,000
- Policy terms up to three years
- Optional extended completed operations coverage
Industry Opportunities
Construction
- Commercial GC
- Homebuilders
- Residential Remodelers - GC
- Concrete/Foundations
- Electrical
- Heating or Air Conditioning
- Plastering/Stucco
- Grading
- Pools
- Excavation
- Framing
- Roofing
- Drywall
Project-Specific
- New single-family homes
- Residential home remodels
- New residential tract and/or townhomes with 25 units or fewer
- Warehouse buildings
- Storage buildings
- Office buildings
- Retail buildings
- Apartments
- Infrastructure-only projects
Applications
Construction Recent Wins
- Interior Remodeling, Commercial Carpentry, Concrete Work, includes Excess policy, $41,568, HI
- Grading Contractor - $32,750, CA
- Roofing Contractor - $69,589, NC
- Irrigation Systems & Landscaping, $28,343, TX
- Maintenance & Remodeling Work, $44,580, UT
- General Contractor, $46,108, IL
- Swimming Pool Contractor, $16,331, FL
- General Contractor, $32,433, NJ
- Owner/GC - Project Specific, $26,151,CA
- Owner/GC - Project Specific, $6,538, CA
- General Contractor, $38,595, LA
- Framing And Siding Contractor, $38,740, CO
- Residential General Contractor, $15,360, OR
- Carpentry & Drywall GC, includes Excess policy, $23,574, LA
- Homebuilder, $34,160, TX
- Fencing Contractor, $27,733, CA
- General Contractor - Project Specific, $39,256, GA
- Metal Building Erection, $17,238, AZ
- Remodeling Contractor, $45,816, MD
- General Contractor, $15,106, TN
