Insurance Best Practices for New Buyers of a Construction Company

Contractor Success Forum

If you're considering buying a construction company, we've got more tips for you this week on the podcast. This episode focuses on insurance. Stephen and Wade discuss what you and your insurance agent need to know to analyze the risks before making the purchase.
Topics we cover in this episode include:

• What your insurance agent needs from the seller
• Insurance with stock sales vs. asset sales
• What happens with insurance rates when one company buys another
• The importance of the seller's safety program
• Liability coverage for company vehicles
• Life insurance considerations for the company owner
• How much insurance is enough?

LINKS
Visit the episode page at https://CarpenterCPAs.com/newbuyer for more details and a transcript of the show.
Find all episodes and related links at ContractorSuccessForum.com.
Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com

Luvut

1. 134 - Insurance Best Practices for New Buyers of a Construction Company (00:00:00)

2. What your insurance agent needs from the seller (00:01:41)

3. Insurance with stock sales vs. asset sales (00:04:14)

4. What happens with insurance rates when one company buys another? (00:05:42)

5. Look into the company's safety program (00:06:47)

6. Liability coverage for vehicles (00:07:51)

7. Life insurance considerations for a company owner (00:12:01)

8. How much insurance is enough insurance? (00:14:24)