Robinsons Insurance Agency Blog
When it comes to construction projects, General Contractors often hire subcontractors to help get the job done. While this helps ensure that projects are completed on time and within budget, it also introduces some risks. To reduce the chances of any costly mistakes or accidents resulting in property damage, injury, or lawsuits, both General Contractors and Subcontractors should have the right insurance coverage in place.
General Contractors are typically responsible for ensuring that their subcontractors carry adequate insurance, so it is important to check into each Subcontractor’s policies and ensure they meet the company’s minimum requirements. A typical policy should include General Liability insurance, which covers any bodily injury, property damage, or expenses resulting from the Subcontractor’s work. Other insurance policies include Worker’s Compensation, Umbrella Policy, Commercial Auto Policy, Inland Marine, Professional Liability, and Builder’s Risk insurance. It is also important for General Contractors to have their insurance policies in place. A comprehensive General Liability policy can protect them from accidents on the job, or any lawsuits resulting from a Subcontractor’s work. It is also essential to have a policy that covers the structure of the building, as well as any equipment used in the project.
As a General Contractor, collecting information from any subcontractors you work with is crucial. This includes verifying that they are adequately insured, including having general liability insurance coverage. It is essential for the contractor to check that the subcontractor’s policy limits meet their requirements and cover any potential liabilities in case of an accident or injury on the job. Additionally, it is important to make sure that subcontractors are licensed and have a good reputation in the industry, as this will help reduce any potential risks of working with them. Once you have verified that their insurance coverage meets your needs, General Contractors should also obtain copies of all relevant documentation, such as certificates of insurance and declaration pages. This will help ensure that the subcontractor is properly covered in any situation and that they are not holding back information. Finally, General Contractors should ensure subcontractors have the necessary permits and licenses for their specific job. Doing so will help ensure that all parties involved are protected in case of a dispute or legal action. By taking the time to collect this information from subcontractors, General Contractors can protect themselves and their projects.
Ensuring both General Contractors and Subcontractors have adequate insurance coverage can help protect everyone involved in construction projects from any unexpected costs or litigation. This can also help projects run more smoothly and protect everyone involved from potential liabilities. Proper insurance coverage can help protect both General Contractors and Subcontractors from costly mistakes, accidents, or lawsuits resulting from construction projects. It is vital to review each subcontractor’s insurance policies and make sure they meet the requirements set forth by the company.
At Robinsons Insurance Agency LLC, we put our clients first by offering them policies that they can afford. Insurance is a necessity nowadays, and we're here to help you. Learn more about our products and services by calling our agency at (888) 254-7350. You can request a free quote by CLICKING HERE. Please get in touch with us today to go over your policy to ensure your needs are met!