What would you do if you had hired a professional team of contractors to repaint your house and one of the workers fell from the scaffolding? While your homeowner’s insurance policy is put in place to protect your home and personal property, who would be responsible for paying for the workers medical bills if they became injured? Ideally, the contractor would have already invested in the right level of insurance protection to help their employees and business property. But what if they didn’t? Keep reading to learn more about the importance of proper insurance for any contractors working on your property.
Why Should Homeowners Be Concerned with Contractors Insurance?
Anytime you hire someone to complete work on or around your home, you should make sure they have insurance before the first hammer hits a nail. If they don’t have proper insurance coverage and there is an accident on your property that results in an injury or property damage, you could end up being held responsible. This means that any time you work with a landscaping company, drywall installer, painter, plumber or HVAC technician, you’ll need to check that they are carrying insurance before you let them start working on your home.
While the type of coverage needed will change depending on the type of work being completed, every contractor should at least have a general liability insurance policy. This type of insurance coverage works to protect contractors, their employees and anyone else on the property against bodily injury and property damage claims. Other common types of insurance coverage that contractors may need include:
- Builder’s Risk
- Installation Coverage
- Commercial Auto
- Worker’s Compensation
- Contractors Professional Liability
- Equipment and Tool Coverage
Homeowners should always take the time to inquire about insurance coverage before hiring a contractor – even if you’ve worked with them in the past. Additionally, before you let a contractor begin work on your house, be sure to ask for a certificate of insurance and confirm that it is up-to-date.
How to Find a Reputable Contractor
Unsure of where to start when it comes to finding the right contractor for your next home renovation project? We recommend reaching out to trusted family and friends for a referral. Chances are that if a contractor has already completed satisfactory work for someone you know, they’ll do so again at your house.
It’s also a good idea to do plenty of online research before giving a contractor the okay to start making big changes around your home. Take the time to look closely at their company website, the reviews they provide there and any reviews you can find on other trusted websites like Angie’s List or Yelp. This is a great opportunity to see unedited reviews from other homeowners who have worked with contractors in the past and even see how they interact with past customers as well. If you like what you see and they have the right insurance policy in place, you’ll feel more comfortable with them completing work on your house.
Protect Your Home and Property with Comprehensive Insurance Coverage
Hiring a reputable and properly insured contractor can mean the difference between enjoying the new changes to your home for many years to come and paying out-of-pocket for unforeseen damages related to property damage or injuries. In addition to investing in your own comprehensive homeowner’s insurance policy, make sure your contractors have the appropriate level of coverage as well.
Want to learn more about the benefits of investing in home insurance coverage from Insurance Innovations, Inc? Contact our friendly and experienced independent agents for more information and be sure to request a free quote online today.