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Help! 5 Million in General Liability insurance.

12860 Views 9 Replies 9 Participants Last post by  TxElectrician
I just had a prospect tell me her buildings require contractors to carry a 5 million per occurrence general liability policy ... all I got now Is a 3 Million aggregate which has gotten me by for the last year or so, I used to carry 3 Million per occurrence but I hadn't been asked for that much anymore.

I just don't have enough clients asking for that level of coverage for me to spread over several projects and still remain cutthroat ...err I mean competitive.

and theirs no way of knowing if their will be work coming from her or whether I'll even be awarded them if they do.

Would it be reasonable to ask her to let me bid on a worth while job and if I'm awarded the project, I will then take the hit and up my policy... or does this all sound to tricky to ask?

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I think you could agree to make it a clause in your contract if you are awarded the job. With the economy the way it is, it's very understandable to most people that you'd want to keep your overhead down.
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