General Contractors that Grind My Gears

GRIND MY GEARS

A new day and here we are again. How about that stimulus package? Have you felt it yet? I have not nor have Millions of out of work people. How about those people that had jobs but lost them? Are they back to work? I think not. Did they get there jobs back? No? So, how has this package helped the common man? It has not. Well than, who has it helped, BIG Business? Yes, that right the big contractor that is large enough to get the job. The little contractor same licenses same experience can’t do it, why capital. The little contractor who had the capital no longer has it in an attempt to keep alive. And what about the big contractor who is still holding on to the small guys money?

I am not talking out of my head when I say this. I know from experience that it is true. I did a job for a very large contractor for a large municipality in Arizona and I got screwed out of a $250,000 dollars on a project that my company did all the work. The General Contractor basically watched me as I completed the project. But, as it would be, I signed in the change order the GC submitted to the city, the GC received payment from the city, and lo and behold, withheld my payment. My only recourse was to attain an attorney and rack up the attorney fees. You all know who gets rich. Now, they have my money so they can afford their attorney where I am left fending for myself, go figure. Here comes the real gripe.

The city has a clause in there contract that says before the release of the money (90% mine), the GC has to get me to sign off that I have been paid. Did this happen? No, it did not. The GC received my money and the city said they can’t help. The city did not get a release from us in any way or form and of course in Arizona you can’t lien a landfill site. So where does that put the little guy? Bankrupt and the big boy continues to gets work from the city spending the Governments stimulus money that is supposed to help Middle America. Why am I not surprised? Well, if I was a minority (oh by the way, the big contractor is), I would have gotten paid. Well I did not get paid and the city, after 2 years of trying to fight this I am out of money and thanks to this contractor, broke. My family will soon be homeless. Thanks to the Government and the ability to change the rules as they see fit.

Is your Insurance Agent Really Working Hard?

How do you know your insurance agent is really working hard placing your insurance needs with the best available carrier? Do you get multiple quotes to select from? Is your agent reviewing three, five, seven insurance quotes with you? Are you able to select the insurance company you want?

We have an agency policy to review ALL insurance quotes we receive for ALL of our prospective and current clients. We feel, you, the insured, have the right to know what we have done on your behalf. When we complete an application, we notify you that it will take several days before we have ALL of your quotes to review with you. In that time period, we have submitted your application to no fewer than 3 insurance carriers using that many additional supplemental applications. It takes a lot more time than a captive agent, such as Allstate, State Farm and Farmers, to gather the needed data, collect that data on the application, scan it to your new electronic file and email it off to the three or more carriers. We then wait for the replies from the carrier underwriters for additional information or a quote.......read more

Please feel free to contact us with questions or assistance at info@bbtimail.com.

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Specialty Toy Insurance is NOT Auto Insurance

To begin, let’s look at types of insurable “toys”: Motorcycles, Boats, Recreational Vehicles, Dune Buggies and Sandrails, All Terrain Vehicles, Side-By-Side Utility Vehicles, Modified Golf Carts, Golf Carts, Snowmobiles, Collector Vehicles, Travel Trailers and Personal Watercraft.
Why do all of these vehicle types need their own individual insurance coverage? Any vehicle issued a state registration needs to be properly insured. All 50 states have adopted the required minimum liability insurance requirements. In Arizona, the minimum liability limits are 15/30/10. Insurance is not designed to have one policy meet all vehicle needs. If you need a screwdriver you do not buy a hammer. Vehicle insurance is no different. A motorcycle policy is not designed to cover the insurance needs of a boat. ..............read more

Please feel free to contact us at info@bbtimail.com for any further questions or assistance.

Press Release-Big Boy Toy Insurance gets CNA Surety Appointment

Big Boy Toy Insurance, LLC is proud to announce its recent appointment with CNA Surety and Western Surety. This appointment offers BBTI a new and highly competitive surety bond market for contractor’s performance and bid bonds, license bonds and tax bonds.
CNA Surety, through it’s partnership with Western Surety, is a market leader in the bond market around the world. CNA’s A.M. Best financial strength rating is ‘A+’, the highest possible rating, demonstrating their commitment to the surety market and their agency ....read more

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U.S. Auto Insurance Companies do not extend coverage into Mexico. The only exception is physical damage (comprehensive and collision) coverage within 15-50 miles of the border, depending on the specific carrier. Your U.S. State issued liability auto insurance coverage stops at the Mexican border because of one reason. Mexico operates under Constitutional Law as opposed to Precedent Law in the United States...

...Word of advise, when traveling south of the border with a vehicle, get Online Mexican Travel Insurance from one of several well established carriers. Most of the Online Mexican Travel Insurance brokers offer the same carriers such as GNP (oldest), ACE, and GE and everything you need to quote, bind and issue coverage is readily available on the website.
Please read the full article at any of the following online publishers: Ezines, Amazines, GoArticles, Article Base, Insurance Articles.

ProBuilders Risk Retention Group is Going Out Of Business

According to Insurance Journal (01/19/10), ProBuilders Risk Retention Group will no longer accept any new business and non renew all existing policy holders as of March 1, 2010. “According to Bill Tepe, chief financial officer for Nations Builder Insurance Services (NBIS), the exclusive manager of ProBuilders, the group program has not been able to remain competitive and has been losing revenue due to the collapse of the real estate market and increasing competition from traditional insurance carriers.”

ProBuilders was established in 2001 as a direct result of ‘A’ rated insurance carriers pulling out of the highly litigious market of residential construciton. Home builders and artisan contractors were faced with little-to-no options when it came to finding General Liability insurance for their operations by the end of the 1990’s due to large claim pay outs filed by homeowners primarily in California, Nevada and Arizona. These claims were spawned from the rapid expansion of the new home market where builders and contractors “cut corners” in order to meet demand and time schedules.

When a segment of the economy, notably the construciton market, is not being serviced by a large segment of the insurance industry, niche companies will fill that void. That is exactly what ProBuilders did. They filled a highly demanded gap in available general liability coverage for a segment of the economy that was fuel for entire cities such as San Diego, Sacramento, Las Vegas, and Phoenix. Because they were the “only player in town”, premium was not an issue for many of their insureds. If a home builder wanted to build homes, he needed insurance and ProBuilders was more than happy to be the “only player in town”.

With their coffers full of premium, ProBuilders expanded into Eastern U.S. Markets like New England attempting to take advantage of the lack of insurance carriers in those states. ProBuilders was willing to write all classifications of contractors while charging a rather high premium against the risk. Their aggressive expansion began catching up with them in 2007 when their year-end written premium was $62.7M and drastically slipped year-end 2008 to $25.6M and mid-year 2009 to $6.8M as ‘A’ rated carriers began re-entering the construction market with substantially lower premiums.

This is an unfortunate circumstance for contractors insured with ProBuilders. They now have to scramble to find a new carrier in times when construction has reached a Post WWII low. However, it is a good sign for carriers that have made a point to re-enter the construction market and establish strong relationships with retail agents and brokers focusing on that market segment. This allows retail agent’s access to carriers that can handle more than one specific niche market risk and gives high volume retail agencies and brokerages the ability to create market specific programs with competitive premiums for their clients. ProBuilders was only offering General Liability and Builder’s Risk policies while larger carriers like Travelers, CNA, Navigators and Scottsdale Indemnity can offer a full suite of products, such as Inland Marine, Property, and Commercial Auto, mid-large cap contractors require. BBT Insurance Commercial specializes in Arizona Contractor’s Insurance needs offering all insurance products needed by contractors at highly competitive premiums from a variety of carriers, including Risk Retention Groups, Admitted and Non-Admitted Carriers, with financial ratings ranging from ‘A+’ to ‘B’ as determined by A.M. Best.

Mexican Travel Insurance for Americans

Are you considering traveling to Mexico this year? Did you know that Mexico requires Mexican Travel Insurance for all non-Mexican registered automobiles, Recreational Vehicles, Travel Trailers, and Motorcycles? The process for obtaining and paying for Mexican Travel Insurance is as easy as locating a website and typing in the requested information. Following are the basic steps to expect. Here are the items you will need to secure in order to obtain a Mexican Travel Insurance Policy.

Feel free to read the complete article at Ezines, ArticleBase, GoArticles, Amazines and Insurance Articles.

Alert - Auto Insurance, Health Insurance Not Allowing Pre-Existing Conditions

The whole Federal Health Insurance Reform debate is out of control. Americans, Congressmen, insurance cannot be placed against a risk that has already been damaged. The only exception to that being auto liability insurance which is NOT covering any peril to property in your care, control or custody. Your body is your property (a physical being) in your care, control and custody just like your car. Ask any rebellious teenager if their body is not their property.

Health insurance companies make a profit from the premiums they charge. Some make much more profit than others and some are created as Not-For-Profit entities. Congress has attacked For-Profit health insurance companies on the grounds that they are creating 'excessive' profits. These health insurance companies are profiting on the backs of Americans health. How dare them!

Click here to read the full article.

Insurance Agents Help With Claims Processing

Your insurance agent can be a big help when it comes to filing and handling a claim against insured losses.

When something happens to you and your family, it is always reassuring to know that a phone call can make things better. Relying on your agent in crisis times is good sound advise. Agents can take down all relevent information to pass along to the carrier. Can notify you of what to do and expect next.

Your agent can also be your worst nightmare. If you are late with your premium payments and do not make an effort to work with your agent, your agent can recomend the carrier not collect earned premium and NOT cover the claim. This leaves you out in the cold to fend for yourself against a sure fire lawsuit.

Insurance is a contract designed to transfer risk of loss to a company in exchange for premium. If you do not pay the premium, you are in breach of contract giving the insurance company reason to cancel any obligation.

Keep your premiums current and stay in touch with your agent to make sure in the event of an accident, you will not be shouting bad language at your insurance agent.

Sean Kimbrough