PHONE248-349-6227
FAX248-348-6762
Construction projects involve many types of risk, from property damage and material losses to contractor default and project delays. Builder’s risk insurance and surety bonds are two important tools used to manage those risks, but they provide very different types of protection. For Michigan contractors, understanding the difference and knowing when each may be required…
Read more
When evaluating a contractor for a surety bond, underwriters focus on three key factors known as the Three C’s: Character, Capacity, and Capital. Together, these help determine how likely a contractor is to successfully complete a project without the surety having to step in. Character: Your Reputation and Track Record Character reflects your reputation, experience,…
Read more
Construction and roadwork remain among the most hazardous industries in the United States. From heavy equipment and roadway traffic to changing weather conditions and physically demanding work, contractors face risks every day. While no jobsite can eliminate every hazard, a proactive safety and health management program can significantly reduce workplace injuries, improve productivity, and help…
Read more
Spring marks the start of a busy season for contractors across Michigan. For those involved in utility, highway, civil, transportation, federal, heavy, and building construction, proper preparation is essential to stay on schedule, maintain compliance, and secure the right bonding before projects ramp up. Planning for Utility and Infrastructure Work Spring is a key season…
Read more
When a construction company needs to secure a bond, the most critical first step is partnering with a reputable surety bond broker. An experienced broker serves as your advocate throughout the bonding process, helping position your company in the strongest possible light and guiding you toward the most favorable bond terms and conditions available. A…
Read more
Surety bonds are a routine requirement across the construction industry, but securing the right bond doesn’t have to strain your budget. Understanding how bond costs are calculated—and what influences your rate—helps you make informed decisions as you prepare for upcoming projects. What Surety Bonds Typically Cost Surety bond premiums are charged as a percentage of…
Read more