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When it comes to getting the best deal on home construction, one of the best ways to get that is to learn how to do contractor bonds to protect homeowners from unscrupulous contractors. Unfortunately, many people are not aware of the process and what to look for in bonds. So, before you decide to buy one, it’s essential to learn about them. What exactly is a bond? A bond is a type of collateral that can be used to secure loans. The collateral must be worth at least one-hundred thousand dollars...
Just like a contractor has to customize a job for their clients, you can think of contractors insurance as a customized business insurance policy.
A good number of contractors mostly confuse contractor bonds and liability insurance. Potential clients need contractors to uphold a certain standard. The two are very popular and might seem alike,...
Bonded vs. insured contractors: Learn the difference and which to hire for your home improvement project. Protect yourself and your home by hiring smart.
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Table of contents ; Who is covered by an insurance policy? · GC insurance & specialty contractor coverage · General liability insurance · Builder’s risk insurance · Specialty contractor default insurance · Bonds and specialty contractor coverage · How to ensure specialty contractors are covered
Accidents can happen on the construction site that results in bodily injuries or property damage to third parties and employees. Materials and equipment can also get lost or damaged. Given the risk you are exposed to, you ought to invest in general contractor insurance, which comes in two types. This protects your business from potential lawsuits and other claims. Contractors taking on commercial builds need commercial general contractor insurance, while those involved in residential projects will require residential general contractor insuranc ...
Construction insurance designed to meet the risks of contractors and large construction projects.