Surety Bonds and Insurance

Maintaining proper insurance for your construction projects is not only financially responsible but may also be required under Florida law. The Fort Lauderdale surety bonds and insurance lawyers at Kevin J. Taylor, P.A., can provide you with the expert guidance and legal know-how your construction firm needs to protect itself financially and to ensure that all requirements are in place before you break ground on a new project. We specialize in Fort Lauderdale construction law and can offer the best possible guidance for your company.

Liability Insurance

The state of Florida requires general contractors to obtain specific minimum amounts of liability insurance prior to performing work in the state:

• General and building contractors must maintain $300,000 bodily injury coverage and $50,000 property damage coverage to maintain compliance with Florida law.
• Other contractors must usually maintain $100,000 in bodily injury coverage and $25,000 in property damage coverage.

The expert construction law team at Kevin J. Taylor can provide you with the most accurate guidance and legal support in determining the right level of coverage for your company and your ongoing and upcoming projects. We can also provide support in disputes with your insurance company regarding your coverage, allowing you to enjoy greater peace of mind when accidents do occur.

Types of Construction Bonds

Surety bonds are a type of insurance contract between three parties. Your construction firm can obtain these bonds through a bank or insurance company to provide evidence of your ability to perform a project financially to a potential client. Surety bonds can be obtained for a range of different activities:

• Bid bonds are designed to demonstrate the ability of your construction company to complete the work on which you have submitted a bid.
• Payment bonds can provide suppliers and subcontractors with added assurance that they will be paid for the work they perform on behalf of your company and your project.
• Performance bonds are used to guarantee the on-time completion of a construction project at the price and the quality level specified in the contract.

Working with an established and experienced Fort Lauderdale surety bonds and insurance lawyer can help you determine the best way to approach these requirements and to achieve your goals in the competitive Florida construction marketplace.

At Kevin J. Taylor, P.A., our law firm was established to serve the Florida construction industry. We offer comprehensive support for you and your firm in the legal environment. Give us a call at 954-530-0889 to set up your first appointment. We look forward to the opportunity to serve you.