What Are Builder’s Risk Policy Extensions?
Builder’s Risk policy extensions can be crucial for contractors, as far as risk management is concerned. And, in an industry that is projected to hit $1.2 trillion in economic activity by 2020, even minor property damages at the workplace can result in severe financial loss. This, in turn, can cause a delay, halt your entire […]
New Framers Pick Farmer Brown Insurance Company in California
It’s can be a challenge to find an affordable insurance company in California. It’s one of the most expensive states for construction projects. With a robust economy and a lot of new projects coming up all the time, construction is big news here. Last summer, seasonally adjusted construction employment in California reached 900,000 for the […]
7 Tips To Help You Choose the Right Contractor Insurance company
How do you find the best Contractor Insurance Company for your business? Almost 60% of contractor businesses don’t have insurance. And, for those that do, it’s not always sufficient coverage. While safety procedures reduce incidents, they can’t be avoided entirely. Being inadequately insured can potentially cost your business up to $70,000 in fines. 7 Tips […]
Having Insurance Will Help You with Drywall Accidents
Drywall accidents happen frequently in construction and contractor work. It’s extremely important to know why you should have general contractors insurance. This is to ensure that you can protect your company from any lawsuits that may cause your business to shut down. As such, if you have insurance, you will be saving yourself time and […]
What is Professional Liability Insurance?
Professional liability insurance is designed to cover Principals that provide professional services. It protects them against claims from clients who suffer a financial loss due to errors or negligence that are caused by actions or in actions of the Principal. It‘s commonly referred to as Professional Liability Insurance or Errors & Omissions Insurance (Commonly referred to […]
The Four Basic Types of Insurance for a Subcontractor
As a new subcontractor, you might think that whoever you contract under will have a general liability insurance policy or some other insurance coverage that covers you. You may also think that the business owner’s policy covers you while you are on their site. Unfortunately, none of these options are true. In fact, there are […]
Liability Insurance for Plumbers
As a plumber, it’s your responsibility to ensure that water and waste flows smoothly in an out of any building you work in. Knowing the details concerning piping and drainage is vital in your business. Fixing a leaking faucet may seem easy, but even the easiest tasks leave you exposed to various risks. Too many […]
HVAC Contractor’s Liability Insurance
Are you an independent HVAC Contractor? If so, you may be required to have liability insurance for your practice, something you might have overlooked if you came from a larger company and started your own business. Liability insurance protects HVAC contractors from claims that can be filed after a client or third party sustains an injury, experiences damage to their property, and the costs of defending yourself in civil court whenever a claim is made against you. Every type of claim can heave significant financial costs onto your business, straining your ability to keep up operations from day to day.
How to go From Hobby to Full Carpentry Business
It was during high school when you started in the carpentry program. You spent time learning to use power tools and hand tools. Next, you took classes where you learned about OSHA and the building codes you would need in a business. Then, you took the most boring class, the history of carpentry from Stone […]
Getting the Mini Excavator for Your Small Construction Business
Congratulations! You’ve gotten to the stage of your business where it’s time to get your own excavator rather than using a rental or whole rental fleet every time. However, when you started looking at the options and features from compact excavators to hydraulic excavators and even larger excavators, you realized that you didn’t quite know […]
Why a Business Plan is a Must Have Resource For Businesses Seeking Insurance
Maybe you’re a long-time independent contractor looking to expand the services you offer. Perhaps you’re an investor with a big idea and enough gumption to try and turn that idea into reality. At any rate, the first step on the path is creating a business plan. Not only does this keep you on track […]
Employee vs Sub Contractor
Smaller contractors generally have a limited understanding of how classifying workers as either employees or subcontractors affect the various types of insurance. This simple distinction can land you in proverbial quicksand and before you know it your overhead. This article will only deal with the insurance differences between the treatment of employees versus subcontractors or […]