what is the reviews for Safebuilt Insurance Services, Inc.?
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UPDATED: Apr 16, 2011
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Insurance Question from Oceanside, CA
Asked on 04/16/2011
what is the reviews for Safebuilt Insurance Services, Inc.? Is a Non Admitted insurance policy a good policy to purchase for a Construction company located in California that is working on public works and commercial projects?
Answer given on April 17, 2011
Non admitted carriers, while not admitted to sell insurance in California, must meet certain financial requirements to be accessed. Non admitted companies choose to work in the manner they do to avoid certain taxes, requirements and technical issues. It does not mean they are insolvent or bad insurance companies.
I would recommend that you discuss the company with your agent to be sure you are comfortable using them. You should check the financials of the company in the insurance rating book “Bests”. Many of the companies are a part of a well known, established insurance companies, such as Chubb, AIG or Firemans Fund
In most cases, your agent cannot use a non admitted carrier if there are admitted companies available to write the insurance you are seeking. They are not allowed to use a non admitted company simply for a price break. Part of the due diligence in using a non admitted company requires the agent to list three admitted companies that declined to write the insurance being sought.
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