Contractors put a lot of thought into whether or not they can accept projects beyond their normal size, geographical region, and scope. These jobs have the potential to lead to bigger opportunities and expand their business, but it’s always risky to explore areas that they don’t specialize in.
But before applying for a stretch bond to assist them, it is smart for contractors to call their insurance consultants about whether or not they qualify for one. An open conversation can address the following questions:
- What kinds of opportunities make sense for us to take on? How will they help us grow our business?
- What kinds of jobs will bring in enough money for us to justify taking it on?
- What steps are we going to take to ensure a potential job goes smoothly?
If a contractor has fostered a strong relationship with their surety, the surety should have faith that the contractor will give each potential project serious thought, and will protect and watch out for their own interest (which in turn protects the surety’s interest).
Ready to get started? Set up a meeting with a Horton specialist today.
