When you set out to find the perfect insurance program for your development project, there could be a lot to consider. When speaking to your agent, you could hear about owner controlled insurance. There are many benefits in every type of insurance, but knowing just what is right for your project is important. The following are just a couple of the advantages that come with an owner controlled program.
One benefit of this type of insurance is that contractors and subcontractors who typically do smaller jobs, but are looking to work on a larger scale project, can have the coverage necessary. The cost of insurance will not skyrocket for these types of professionals, and they can make a living without having to worry about insurance coverage.
Another advantage is that in many cases, the overall costs of insurance goes down. Buyers can purchase this program in bulk, which often results in a lower premium. Comparing this to individual plans for every contractor on the job will show you how cost effective it can be.
As you can see, there are some important benefits to understand about owner controlled insurance. If you are considering this as an option, getting in touch with an insurance agent is a good idea so you can learn more about the benefits.