There is a lot that rides on a contract financially, so it makes sense that there should be insurance around it to protect the binding responsibilities of the contract holder.
You may be the main contractor on a project and are let down by a subcontractor. Or your work doesn’t meet the specifications of the contract, such as if you had to find an alternate supplier who didn’t have quite the right materials.
If the success or failure of a project hinges on you as a contractor, then you should consider Contract Bonds Insurance.
This is put in place around a specific project so that our experts at MCM can understand the level of cost at stake, and so look for a policy with limits that match this accordingly. This ensures not only that you won’t be underinsured, but that you won’t be paying too much unnecessarily on your premium.