How to Make Sure Your Contractor is Insured in Port St. Lucie

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How to Make Sure Your Contractor is Insured in
Port St. Lucie
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Difference Between Bonding and Insurance
Most reputable contractors advertise themselves
as bonded and insured. But what, exactly, does
that mean?A surety bond assures that youre
protected if the contractor skips out and doesnt
finish the project or if he winds up doing
sub-par, shoddy work. This bonding ensures that
you wont have to use your own cash or
homeowners insurance to foot the bill in such
cases.
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What Kind/How Much Insurance?
Your contractor should carry general contractor
liability insurance comprising the following
types/levels of coverage Liability insurance
Covers injury to you or your family and protects
you from lawsuits Workmans Comp Protection for
the contractors employees in the event of injury
(not required in all states for smaller
contractors, so youll need to ask) Property
damage Covers damages to your home during the
course of the project
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Steps You Need to Take
1. Check out the contractor with the Better
Business Bureau. 2. Check references and talk to
former customers. 3. Have a formal in-depth
meeting with the contractor before signing any
contract. 4. Ask to see insurance and bonding
documents. 5. Get everything in writing all
aspects of work to be done, work milestones and
payment schedule, completion date, contingency
clauses, and so on.
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How Does Your Contractor Deal With Subcontractors?
It sometimes happens that subcontractors are
brought in on a cash basis. Theres no record of
their employment by the general contractor, and,
as a result, they arent covered by the
contractors insurance (or bonding) should
something go wrong. So, in addition to
investigating your contractors insurance status,
you also need to determine how they deal with
subcontractors.
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