International Door & Operator Industry

JAN-FEB 2019

Garage door industry magazine for garage door dealers, garage door manufacturers, garage door distributors, garage door installers, loading docks, garage door operators and openers, gates, and tools for the door industry.

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74 International Door & Operator Industry™ ADVANTAGES OF THE IDASSURANCE PROGRAM Questions? Contact Andrew Stergiou at 212-603-0321 • astergiou@alliant.com • General Liability, Automobile, and Workers Compensation - An admitted A - XV rated Company by AM Best • $0 deductible on the general liability, workers compensation and automobile (Except $1,000 comp/collision deductible) on all policies • NO residential exclusion • Ability to receive certificates of insurance within 2 hours of the request via email • Policies specifically tailored for the IDA members • General liability with a per project aggregate • Broad and comprehensive coverage • Completed Operations for Additional Insureds • General liability, workers compensation, and automobile liability waivers of subrogation (Blanket Waiver of Subrogation) • Primary & Non-contributory endorsement Alliant Insurance Services, Inc. is the insurance consultant for the IDAssurance Program and reviews and analyzes all current policies with the insured to confirm each IDA member has the necessary business coverage. Alliant Insurance Services, Inc. is the consulting broker for the IDA Insurance Program and is one of the largest and most experienced insurance and surety bond brokerage firms in the country. (Continued from page 72) • Residential exclusions can also be a problem for companies that have worked on office buildings, hotels, schools, or hospitals that have been converted into residential habitations. • Although residential exclusions have no doubt eased claims for insurers, they have also stripped dealers and door installers of essential protection. Worse yet, many insurance brokers who are not familiar with this issue are frequently leading their door clients into these treacherous waters. Don't fall into the residential exclusion gap! Here are some simple ways to make sure you're covered: • Check whether your policy includes a residential exclusion. Depending on the wording the insurer used, the exclusion may only apply to single-family homes or townhouses, or it could have more sweeping wording and exclude all residential work. • Compare the residential work excluded to the projects you've worked on recently and make a plan for the future to see how much of an impact the exclusion could have in your work. • Determine if the exclusion applies to commercial projects that could possibly be converted into residential property in the future. • Have a garage door industry expert from IDAssurance review your coverage. If you want additional information about the advantages of the IDAssurance Program, contact Andrew Stergiou at (212) 603-0321 "Although [residential exclusion] has nationwide implications, residential exclusions have been particularly harsh on companies in California, Arizona, Texas, Florida and Colorado, where construction defect claims are common." Testimonial I recently started using IDAssurance and not only will we save over $200,000 this year, but we'll receive better and broader coverage through IDAssurance. Andy Stergiou with IDAssurance is an awesome person to work with and he really helped us out of a very tough situation. I highly recommend you call Andy today to see how he and IDAssurance might be able to help you! Randy Oliver, Owner – Hollywood Crawford Door Co., San Antonio, TX ASSOCIATIONNEWS

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