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Summer Months

Busiest Time Of The Year For Contractors   The spring, summer, and early fall months are the busiest time of the year for contractors, especially those that do most of their work outside.   Even the interior contractors tend to be busier during this time, should a homeowner decide to do an upgrade, and the contractor needs a place to store the items being removed from the home until they can be discarded.   This would be a bit difficult if there is snow on the ground.   You want to make sure you have the proper general liability coverage in place prior to starting the job.   Just because a homeowner, or business, does not ask for proof of coverage, does not mean you do not need it.   In the course of your work, you could accidentally damage something in the home or business, which could be costly to repair or replace.   Who would responsible for repairing or replacing the damaged item?   The homeowner and/or business owner would expect YOU to repair or replace the item.   If this is
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Contractor Policy Forms and Endorsements

 Whether you are an experienced contractor, or a new venture, you need to be aware of the different policy forms and endorsements available for your business.   Contractual Liability Liability imposed on an entity by the terms of a contract . As used in insurance, the term refers not to all contractually imposed liability but to the assumption of the other contracting party's liability under specified conditions.   Action Over Coverage / 3 rd Party Action Over An “action over” (also called a “third party over action”) is  a type of action in which an injured employee, after collecting workers compensation benefits from the employer, files a tort claim against a third party whose negligence allegedly caused the employee's injury .   For an Action Over policy, this is not an endorsement that can be added to a policy. This would be a policy form type.   If you have a policy does not have Action Over on it (no exclusions for injury to employees), your policy would need
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Types of Construction Insurance

  Posted by Insureon The construction industry is full of risks, and there are several types of construction insurance to know about to ensure that you're protected from all the most common hazards. What is construction insurance? What are the types of construction insurance? General liability Workers’ compensation Commercial auto Contractor’s tools and equipment Professional liability Builder’s risk insurance General liability insurance Third-party property damage Third-party bodily injury Copyright infringement and other advertising injuries Damages caused by your completed construction or installation project Workers’ compensation insurance Commercial auto insurance Contractor’s tools and equipment insurance Professional liability insurance Builder’s risk insurance Fire Weather Vandalism The construction industry is full of risks – and each risk could cost your company money if you don’t have the right insurance coverage in place. Every construction company and contractor should
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"Dirty Little Secrets" of Workers' Compensation

    "Dirty Little Secrets" of Workers' Compensation....or, Why It's So #@% Expensive! If you do business in New York, that in itself is expensive on many levels -- to the point where sometimes it is hard to make any profit in the business.  Surprisingly, that is also true for insurance companies in that state! Why?  A simple answer:  Workers' Compensation.  Claim numbers, lawyer involvement in those claims, and medical costs in New York are all the highest in the nation. Even if you don't do business in the Empire State, however, you no doubt want to find ways to economize on Workers' Compensation costs.  Why is this form of insurance so expensive?  Here are some "secrets" that can give you insight into that question. Secret #1     The right insurance agent matters.   Make sure your insurance professional is dedicated to providing you with the best possible service.  This includes finding you the best quote possible!  Your agent should have acces
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General Contractor Insurance

General Contractor Insurance Contractor's General Liability My dad was a general contractor.  I grew up on ladders, handing hm hammers, nails, handsaws, etc.  He worked 7 days a week to support our family.  When he wasn't working, he spent many hours trying to get a competitive quote for his Liability Insurance.  He often commented, "Insurance Stinks".  So I decided to do something about it.  Getting a quote should be an easy process. Making a profit in the contractor business is getting harder every day.  As a business owner, you try to make good business decisions.  You know making the wrong decision can cost you money.  Actually, it can cost you your business, your savings and your home.  I am talking about the Multi-Million Dollar Lawsuit.  Not only do you worry about the coverage, but the time away from your work.  Not to mention the cost of the legal settlement.  If you follow the guidelines in this chapter you will protect your business and become more profitab
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General Business Liability Insurance

    General Liability Insurance:                                Do Not Go Into Business Without It! If you have a business, you need general liability insurance.  Period! But how much do you understand about what that really means?  Whether this is your first go-round or you are a seasoned business professional, if you have questions...ask.  Every business is its own unique dynamic, and you want to know where the "sharks" are  before  they swim up and bite you! What Your Policy Will Cover If you are a business person, you take some risks every single day.  What you buy insurance for is to  keep  you in business despite all kinds of hazards and potential trouble. Lawsuits, Investigations, and Settlements If damages are filed against you or you're sued, general liability covers your insurance company's investigation and attorney expenses, any judgement or settlement, medical expenses in case of injury, and any bonds if they must be subsequently posted. Injury Damages If
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Not All Insurance Companies Are Created Equal

 Insurance is big business -- it is getting tougher and tougher on the industry to get insurance, so they look for reasons to disqualify you, or at least to spike up your premium rates.   There is that heartless, cold bit again!  Why would they do that?     They have their reasons.     The average insurance company, to put it bluntly, has been burned before; they are like a brokenhearted lover who is afraid to trust again.  But the good news is that the responsibility you show -- the more capable you appear to be in handling your life -- the better the insurance company will "like" you.     That said, I do have a caution against putting on your rose-colored glasses too soon:  not every insurance company just wants to help people.  In fact, I would be lying if I told you that there was no such ting as a bad insurance company.     Great.  Just what you need -- to not only have insurance companies examining you  as if you are a specimen under a microscope ... but now you have to
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