Stop Losing Money on Bids: The Insurance Mistake Most Contractors Don’t Know They’re Making

🚧 Contractors: Are You Underpricing Yourself Right Out of Business?

Let’s get brutally honest: most contractors are unknowingly leaving money on the table — or worse, paying out of pocket — because they’re mishandling insurance before they ever win the job.

Think about how you typically approach a project. You crunch the numbers, sharpen your pencil, and put in a competitive bid… only to discover later that your insurance premiums don’t fit the budget.

Or new contract requirements pop up that force you to scramble for higher coverage — and now your margins vanish.

It’s not just theory. A recent article by Chris Davis in Insurance Business highlights how common this is.

Many contractors pass outdated or incomplete data to their insurance brokers, or treat insurance as a back-office chore. They only call the agent after the contract is already priced out and awarded. Big mistake. Because at that point, your options shrink and costs soar. (Chris Davis, Insurance Business)

📝 Real-World Problem: Insurance Surprises That Eat Your Profits

Here’s what happens when insurance is an afterthought:

• You find out you need a waiver of subrogation, primary-non-contributory language, or additional insured endorsements — and your carrier either won’t add them or will for a hefty fee.

• Your workers’ comp rates change midstream because of outdated payroll estimates or wrong class codes.

• An unexpected general liability audit hits you after the job wraps up, clawing back thousands you didn’t budget for.

These last-minute insurance surprises don’t just sting — they can wipe out the very profits you counted on from the project.

🔨 How We Fix It: Pre-Bid Insurance Planning

At MS2 Agency, we help Michigan contractors (and trades pros across the state) get ahead of this. Before you ever submit your bid, we do what most agents won’t:

✅ Review your entire risk profile — operations, subs, payroll, fleet, and certificates.
✅ Run up-to-date insurance quotes based on real numbers, not last year’s guesswork.
✅ Test the market early, so you’re not scrambling at the eleventh hour or stuck paying bloated rates.
✅ Map out endorsements you might need, so contract compliance doesn’t blow up your deal later.

By treating insurance as a front-end strategy instead of an afterthought, you protect your profits and quote your jobs with total clarity.

🚀 Quote With Confidence — Instead of Hoping For the Best

Imagine bidding your next project already knowing your insurance will check every box — at a cost that preserves your margin. No last-minute “gotchas,” no angry backtracking with your GC or property manager, and no surprise invoices that show up six months later.

👉 Want that kind of peace of mind? Book a free “Pre-Bid Insurance Review” with us. We’ll give you a clear roadmap so you can quote smart, win more, and keep more.

Source: Chris Davis, Insurance Business, “Construction firms are paying for quoting mistakes they don’t know they’re making.” Link

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