The Win-Win Solution for Small Business Needs
To address the needs of a growing industry, Vela established our Velocity Small Business segment with a focus on efficiency and speed to market.
Velocity Small Business
Our broad coverage, competitive pricing, and prompt turnaround allow our broker partners to quickly respond to the needs of their clients- this is the foundation of success between Vela and our broker partners. Our dedicated Velocity team is committed to responsiveness, with a high level of service, in providing insurance solutions for businesses with annual revenues up to $2,000,000.
Velocity Owners Interest
Vela’s Velocity offers an Owners Interest policy providing insurance protection for Project Owners during construction. Project Owners could find themselves with liability due to actions performed by independent contractors. Our Owners Interest policy extends liability coverage for Project Owners for the bodily injury or property damage that are a result of the actions of their contractors or subcontractors, with project costs up to $100,000,000.
Vela’s Velocity Small Business Insurance Solutions
Coverage Capabilities
- Qualifying size of risk- $2,000,000 receipts maximum and/or $750,000 payroll maximum
- Owners Interest- up to $100,000,000 project costs
- Contracting Business- All States - excluding NY
- Primary Limits- $1,000,000/$2,000,000 or $2,000,000/$4,000,000
- Excess Limits- up to $5,000,000
Industry Opportunities
Construction
- General Contractors
- Trade Contractors
- Owners Interest
- Remodelers
- Swimming Pool Contractors
Velocity Recent Wins
Remodeling Contractor, NJ - $30,000
Owners Interest – New construction of a 2-story medical office, OR - $23,756
Servicing Residential Windows, TX - $20,000
Demolition Contractor, CA - $17,767
Electrical Contractor, FL - $17,652
Metal Installation, NV - $17,524
Gutter Installation/Repair, SC $16,000
Drywall And Paint Installation - Includes Excess, MD - $15,917
Residential Home Builder, CO - $15,001
Painting Contractor, TX - $11,401
Commercial General Contractor, ID - $11,334
Water Main Connections / Construction, Paving & Concrete Work, TX - $11,214
Custom Home, Metal Building, And Pole Barn Construction, SC - $10,000
Welding Contractors, AZ - $10,000
Residential And Commercial Contractor, MT - $10,000
Owners Interest – Renovation of a 2-story hotel, FL - $9,010
Swimming Pool Contractor, TX - $8,944
Commercial Demolition Contractor, GA - $7,506
Concrete Contractor, WY - $7,500
Owners Interest – Construction of 3 new homes, WA - $5,501
Owners Interest – Renovation of a commercial building into a swim school, DE -$4,000
