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The construction and building industries are complex, with numerous risks that can impact a builder’s financial assets if unprotected. Any jobsite where contractors perform tasks is made even more complicated, with property owners and the contractors themselves exposed to on-the-job risks. To protect against loss of property, medical and legal expenses due to workplace injuries or deaths, and damage resulting from unforeseen natural events, a specialized form of insurance protection called surety may be needed. At Rooney Insurance Agency, we are a specialist in surety bonds, sometimes known as construction or contract bonds. Our agency has more than 50 years of experience in the dynamic and ever-changing construction industry, allowing us to provide coverage solutions for nearly every risk associated with the industry.
Rooney Insurance Agency is an innovative leader in providing reasonably priced, feature packed property and casualty insurance for many of the leading businesses.
For any business entity that uses contracts and employs contractors for any part of service delivery, a contract bond may be required. These bonds are, in essence, a guarantee that the named contractor will abide by and adhere to the specific details in the contract. Contract and surety bonds are typically used in the construction industry, but may be found in any industry that relies on contractors for services. In the construction industry, many contractors and subcontractors are responsible for tasks ranging from electrical and plumbing services to materials delivery, specialized construction practices, and many more aspects of a building project. Construction and contract bonds give valuable protection to the project’s owner or owners, and these bonds specify that the contractor will complete work as specified. Contract bonds also provide financial protection, ensuring that suppliers, subcontractors, and laborers are paid appropriately.
Rooney Insurance Agency has served the business communities of Oklahoma with comprehensive insurance plans at competitive market rates for decades. We have long been considered a specialist in contract bonds, and works with both national and international insurance markets to provide:
Our agency meets most bonding requirements for all industries. Speak to one of our team members today to learn more about our bonding options and coverages.
Unlike many insurance companies, Rooney Insurance Agency is staffed by a team of experienced insurance professionals with the market knowledge and industry familiarity needed to exceed our clients’ expectations. We know that the construction industry is complex, with many aspects that must work together to complete projects on time and on budget.
We strive to provide protection for the financial assets of our clients, and to do so, we carefully review all aspects of a contract before issuing surety and contract bonds. This process may include:
This process is completed to verify that all contractors entering project contracts have the financial resources and capabilities needed to successfully complete a given project. In other words, we ensure that any guarantees specified in a bond can be met if an accident or unforeseen incident were to occur. We go the extra mile to protect our customers, earning our agency its reputation of outstanding service and quality.
For surety bonds, contract bonds, and many other types of performance and fiduciary bonding solutions, Rooney Insurance Agency is a recognized leader. Call our talented team of bonding professionals today to learn more about our products and processes.