The Win-Win Solution for Small Business Needs
To address the needs of a growing industry, Vela established our Velocity Small Business segment with a focus on efficiency and speed to market.
Velocity Small Business
Our broad coverage, competitive pricing, and prompt turnaround allow our broker partners to quickly respond to the needs of their clients- this is the foundation of success between Vela and our broker partners. Our dedicated Velocity team is committed to responsiveness, with a high level of service, in providing insurance solutions for businesses with annual revenues up to $2,000,000.
Velocity Owners Interest
Vela’s Velocity offers an Owners Interest policy providing insurance protection for Project Owners during construction. Project Owners could find themselves with liability due to actions performed by independent contractors. Our Owners Interest policy extends liability coverage for Project Owners for the bodily injury or property damage that are a result of the actions of their contractors or subcontractors, with project costs up to $100,000,000.
Vela’s Velocity Small Business Insurance Solutions
Coverage Capabilities
- Qualifying size of risk- $2,000,000 receipts maximum and/or $750,000 payroll maximum
- Owners Interest- up to $100,000,000 project costs
- Contracting Business- All States - excluding NY
- Primary Limits- $1,000,000/$2,000,000 or $2,000,000/$4,000,000
- Excess Limits- up to $5,000,000
Industry Opportunities
Construction
- General Contractors
- Trade Contractors
- Owners Interest
- Remodelers
- Swimming Pool Contractors
Velocity Recent Wins
|
Recent Win |
State |
Amount
|
|---|---|---|
|
Owners Interest – 3 Story Hotel |
MT |
$56,381 |
|
Remodeling Contractor |
TX |
$17,331 |
|
Residential Developer |
CA |
$17,000 |
|
Sand Blasting and Painting Pipes Work |
TX |
$15,626 |
|
Water Well Drilling – Includes Excess |
SC |
$14,500 |
|
Home Builder |
TX |
$13,000 |
|
Paving and Sealcoating of Driveways, Parking Areas, and Sidewalks |
IL |
$11,700 |
|
Fiber Optic Installation |
WA |
$10,800 |
|
Residential and Commercial Contractor |
PA |
$10,001 |
|
General Contractor |
AZ |
$10,000 |
|
Carpentry and Masonry Contractor |
MA |
$10,000 |
|
Drywall Installation |
NC |
$10,000 |
|
Commercial/Residential Tenant Improvements – Concrete & Framing |
OR |
$10,000 |
|
Concrete Flatwork Contractor |
LA |
$7,500 |
|
Commercial Contractor |
NV |
$7,500 |
|
Interior Carpentry on Modular Buildings |
TX |
$7,500 |
|
Painting Contractor |
IN |
$7,500 |
|
Countertop Contractor |
CA |
$6,641 |
|
Synthetic Turf Contractor |
CA |
$5,000 |
|
Owners Interest – Custom Home |
NJ |
$4,001 |
|
Owners Interest – Restaurant Remodel Project |
RI |
$4,000 |
|
Owners Interest – Apartment Remodel Project |
IL |
$4,000 |
