Start with the same risk information
Give each reviewer the same legal entity, work locations, services, revenue, employee payroll, subcontractor costs and claims history. Identify the coverage period and limits you requested. If one quote used an estimate you later corrected, have it revised before comparing prices.
Construction, repair and maintenance can lead to different underwriting. Include occasional operations and your largest projects, not only the routine jobs.
- Match the named insured, locations and proposed effective dates.
- Match the operations, receipts, employee payroll and subcontractor costs.
- Record estimates that still need confirmation.
Compare covered operations and policy terms
Ask for the quote, proposed forms and endorsements, not only a premium screenshot or certificate. Compare requested limits, deductibles, covered operations, exclusions and subcontractor conditions. Ask how the proposal treats claims involving completed work, property being worked on and any design responsibility.
Do not assume an exclusion is absent because the quote summary does not mention it. Put unresolved questions in writing and have them answered before accepting the policy.
- Compare limits, deductibles and any self-insured retention.
- Check operations, height, excavation, roofing or other relevant restrictions.
- Review subcontractor and completed-operations conditions.
- Ask about any occurrence versus claims-made difference.
Compare the full cost and payment terms
Record premium, taxes, policy fees, financing charges and the total amount payable. Compare the same policy period. Ask which charges are refundable, whether there is a minimum earned premium, and whether estimated exposures can be audited.
If the policy is auditable, a low initial estimate may not be the final cost. Ask what payroll, receipts and subcontractor records you should retain and how changes should be reported.
- Record annual cost separately from deposit and installments.
- Compare fees, financing and cancellation terms.
- Confirm the rating estimates and audit basis.
Use a comparison example without guessing a market price
Suppose two proposals cover the same contractor, but only one explicitly accepts the subcontracted installation work. The premiums alone cannot tell you which is better. Ask the other reviewer to confirm that work and revise the quote if necessary, then compare the full terms again.
This is an illustrative decision example, not a customer result or a price benchmark. Enter the figures from your own current insurer documents in the worksheet.
- Resolve missing operations and unanswered terms.
- Ask for corrected documents before selecting a proposal.
- Confirm acceptance and the effective date before telling a customer coverage is in force.
Your startup action list
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Use this guide for planning. Confirm requirements and current fees with the agencies serving your address. Coverage depends on the policy and insurer; this guide does not confirm that a particular operation is eligible.