Gaslamp Insurance Review| Is It Worth It

Gaslamp Insurance Review
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A construction site is like walking into a death trap. Construction workers handle heavy metals and the projects often come with risks. About one in ten construction site workers are injured every year so why not look to us to find a suitable construction insurance agency.

 Gaslamp Insurance offers diverse coverage options to correct the number of risks and dangers construction workers face every time they take on a job. 

 Let’s get started as we are ready to unravel the features this insurance company brings to the table.  Read further into this article and gain the power to take care of yourself and lessen the toll of risks on you.

What is Construction Insurance? 

 Construction insurance is a broad categorization of insurance policies that offers protection during construction projects.

 Certain factors are required of a person to determine the type of construction that would be appropriate for a given project or business. They include:

  • The person
  • Relationship to the project (contractor, property owner, subcontractor)
  • The type of entity buying the insurance (business or individual)
  • The type of property to be covered

Types of Construction Insurance 

 General Liability Insurance

This type of construction insurance protects companies from different liabilities such as injury claims, and medical expenses.

That’s not all, it also takes care of claims from damage caused to a customer’s property or from a job not well done.

The only exception is it does not cover for mistakes arising from professional negligence.

Professional Liability Insurance-

Also the error liability cover. This insurance covers errors in design or value engineering on the job as well as changes that occur in the shop likely to become a hindrance to the project.

This one covers the mistake that can have a financial impact on a project.

Pollution Liability Insurance-

This form of construction insurance provided coverage if ever a pollution incident were to happen on site. General liability excludes pollution liability, it can be added on occasion.

This addition leads to less coverage than a separate pollution liability.

Business Vehicle and Commercial Auto Insurance-

Auto Insurance is the most common of all insurance types. This typically deals with vehicles that are used for business purposes.

Commercial vehicles that you can ensure range from cars and trucks to much larger vehicles like tractor-trailers, dump trucks, or cement trucks.

One exception to that rule is a yard truck that never leaves the premises of your operations.

Inland Marine Insurance-

The name of this insurance may cause some head-scratching. The early days of moving goods from one place to another involved transport by ship, hence “marine insurance” was needed for the property on board.

The term now not only means moving of goods but also includes specialty property such as contractors’ equipment and installation floater and riggers liability.

Gaslamp Insurance Commercial Coverage Options

Architect And Engineers

The above line of work is the most important in the design of buildings and projects.

It involves risks and can be dangerous which is why insurance is put in place to curb and reduce unforeseen damages, risks, or claims.

The coverages available with Gaslamp Insurance are:

  • Bodily Injury
  • Property Damage
  • Pollution Damage (only those associated with the design and material required and requested for design)
  • Defense of licensing proceedings and subpoena assistance
  • Punitive damages
  • Personal Injury
  • Payment of claimant’s attorney fees
  • Mold and/or fungus
  • FHA/OSHA/ADA regulatory coverage
  • Third-party discrimination
  • Deductible credit
  • Crime
  • Data breach and private security liability

Builders Risks Insurance

is an insurance policy that protects and ensures projects which are intended or under construction.

It covers all structures and materials on the building sites. Builders Risk insurance will have a fixed limits coverage determined by project value or construction budget but not in all cases.

Coverage available are: 

  • TheftVandalism
  • Fire
  • Wind
  • Lightning
  • Hail
  • Explosion

Commercial Auto Insurance

his insurance pertains to the vehicles owned and operated for business. It protects it from physical damage and liabilities that normal auto insurance doesn’t cover. Commercial Auto Policies can protect:

  • Owned Autos
  • Non-Owned Autos
  • Hired Autos
  • Autos used for Business and Personal
  • Mobile Equipment

Contractor Bond

A contractor Bond is designed to give customers the upper hand over contractors who do not operate in tune with local statutes and laws. Check your local state laws requirements for specific limits and types of bonds.

Highlights:

  • Same-Day Quotes (in most states)
  • Same Day Issuance (in most states)
  • Competitive Rates
  • Multi-Year Options

Equipment Breakdown Coverage Insurance

This is additional coverage that protects the business property against loss and legal fees that may arise due to malfunctions of some equipment. 

It is perpetual to inspection and maintenance of equipment found in not all offices, manufacturing, hospitals, and schools.

Professional Liability

This insurance is a type of liability that protects a business owner or employee against claims caused by negligence, errors, or omissions associated with a contracted job.

Types of professionals who should consider a Professional Liability / E&O liability policy are: Appraisers; Home Inspectors; Real Estate Agents or Brokers; Mortgage Brokers; Auditors; Accountants; and Attorneys, to name a few.

Also read: Fiorella Insurance Review 2022| Everything you need to know

Other Coverages

Excess Liability

Gaslamp Insurance offers coverage provided for a big and unexpected event that can disrupt the course of your business. The terms and conditions are:

  • Up to $25 Million in Limits
  • Available in all 50 states
  • Easy Online Application
  • Same-Day or Next Day Return on Quotes

“A” Rated Carriers

General Liability

Gaslamp insurance provides a policy that protects an organization against claims for bodily injury and damage caused by operations products etc It was introduced in 1986. The terms are:

  • Policy numbers in less than 20 minutes
  • New Ventures accepted
  • Financing available
  • Lapses in coverage accepted

Target Classes:

  • Air Conditioning and Refrigeration
  • Air Conditioning Systems Installation
  • Appliance and Accessories Installation
  • Carpentry (Interior/Woodwork/Shop)
  • Concrete (Flat)
  • Concrete (Foundations)
  • Debris Removal
  • Door & Window Installation
  • Drywall
  • Fencing
  • Floor Covering Installation
  • Garage Door Installation
  • Glass Installation/Glazing
  • HVAC
  • Janitorial
  • Landscaping
  • Handyman
  • Masonry
  • Painting – Interior/Exterior
  • Sheet Metal
  • Siding and Decking
  • Tile and Marble Installation
  • General Contractor
  • Water Drilling
  • Grading
  • Metal Erection
  • Insulation
  • Water/Sewer Mains
  • Septic Installation
  • Plumbing
  • Prefabricated Homes

Pollution liability-

This insurance covers damages caused by pollution from or at a site that is preexisting or unknown before the time the insurance is first obtained.

Home Inspection Insurance

This provides coverage for professional home inspectors. This includes general liability and professional liability/ E/0 or both.

Home inspectors must have both insurances to protect against the many hazards and risks

Workers Compensation

The worker’s compensation insurance is the mandatory insurance for any business that involves one or more workers. It varies from state to state.

It is designed to provide benefit in the event of an injury on the job and at the same time protect the employer

Workers’ Compensation Benefits include:

  • Medical Care
  • Temporary Disability Benefits
  • Permanent Disability Benefits
  • Supplemental Job Displacement Benefits
  • Death Benefits

Pros

  • Leads are provided or all licensed agents 
  • Management and company culture are mostly good 

Cons

  • Certain employees are favorites and not held accountable 
  • Very unorganized with a lack of direction from management 

Gaslamp Insurance Customer Service 

To contact Gaslamp Insurance you can call (800)920-4125 or fax them at (800)920-4107 or visit them at their headquarters in Carlsbad, California in the United States. They are available from Monday- Friday from 6:00 am-5:00 pm

Gaslamp Insurance

 Gaslamp Insurance provides services to the people of Carlsbad, California in the United States. It was founded on the 1st of January 1998.

 The company has programs available in 50 states specializing in helping customers find fast and affordable insurance options for their business in a matter of minutes.

Furthermore,  Gaslamp Insurance provides brokerage services. The agency offers liability, workers compensation, machinery, fleet auto, and other commercial products, and services.

Gaslamp Insurance Review

 Gaslamp Insurance is accredited by BBB. The A+ insurance company is known for its ability to cater to the commercial insurance and production services of people. 

 On the website, there is a view of good reviews from people we believe to be customers but the absence of bad reviews makes it a little suspicious. There are not many reviews of this insurance agency online.

 With its BBB accreditation, it’s safe to say that the company must be doing something right.

You can also read: Best Reviews Of Oxford Auto Insurance 2022| Cover, Policy

FAQ

What Is a Surety Bond?

A surety bond is standard practice for many constructions and contracting companies. If you sign up for a new construction project or renew your license, you’ll need a surety bond.

These are sold through an insurance company, but the bond is an agreement, not insurance.

How Do I Submit A Claim? 

 To submit a claim with Gaslamp there are gaps of information to fill in such as policy number, date of loss

  • Insured information
  • Description of loss
  • Claimant information 
  • Who is it  submitted by

What factors can affect the cost of my automobile insurance?

Several factors can affect the cost of your automobile insurance. Some of which can be controlled and some that are beyond your control.

They are the type of car you drive, the purpose the car serves, your driving record, and where the car is garaged can all affect how much your automobile insurance will cost you.

Even your marital status can affect your cost of insurance. Statistics show that married people tend to have fewer and less costly accidents than do single people.

You can also read this article: Best Reviews of Arch Insurance in 2022

 What is a personal umbrella liability policy?

The personal umbrella liability policy is built to increase your liability protection. This single policy acts as an “umbrella” over all of your other personal liability policies – home, auto, boat, RV, etc.

This way you have a higher personal liability limit than what would be available. Sometimes an umbrella policy may provide personal liability coverage that is otherwise excluded from your other policies.

An umbrella policy provides coverage anywhere in the world, whereas your auto policy usually provides coverage in the US and Canada only.

Conclusion 

 Commercial insurance is a necessity for every construction worker and project owner. Gaslamp relatively offers all the important forms of construction insurance so there is no way you can go wrong.

References

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