Have you ever thought about what might happen if your roofing contractor slipped and fell while replacing a broken gutter? While most Wisconsin residents think that their homeowner’s insurance policy will kick into gear in the event of an accident if your contractor doesn’t have insurance you could be stuck paying for damages out-of-pocket. That’s why it’s so important to make sure that anytime you hire an outside contractor to work on your home or property they have the right level of insurance protection. Keep reading to learn more about the importance of proper insurance coverage for contractors.
Why Do Contractors Need Specialized Insurance Coverage?
Whether you occasionally hire landscapers, HVAC technicians, plumbers or roofers – anytime you invite a contractor on to your property to complete a job, you are both assuming a certain amount of risk. Contractors work in an industry where accidents can happen in the blink of an eye and even the most highly skilled and trained technicians can end up getting hurt on the job. Furthermore, there is also a great possibility that they could damage your property during the course of their work.
These are just some of the reasons why all contractors need to invest in a business general liability insurance policy. With this type of insurance protection, contractors can rest easy knowing that their policy will cover any accident that results in an injury or property damage. This also means that neither of you has to worry about breaking the bank as you try to cover the cost of damages.
In addition to general liability insurance, contractors may also need to invest in other common coverage options, including:
- Workers’ Compensation Insurance
- Commercial Auto Coverage
- Builder’s Risk Insurance
- Installation Coverage
- Equipment and Tool Coverage
How to Hire a Reputable Contractor
Anytime that you do business with a contractor, it’s up to you to make sure that they are carrying the right level of insurance protection. Homeowners should never just assume that a contractor has insurance or simply take them at their word. When you begin your search for a reputable contractor, start by asking friends and family for references. Then research the contractor online, checking online reviews and their website for testimonials from previous customers.
After you’ve found a contractor you like, you’ll need to ask them to show you proof that they are covered by presenting a Certificate of Insurance. Once you’ve seen the certificate, you’ll then need to verify that their coverage is current. You can do this by making a quick call to the insurance agent listed on the certificate. When you’re satisfied that they have the appropriate level of insurance coverage, they can then begin work at your property.
Don’t Rely on Your Homeowner’s Insurance
Even though you’ve invested in a comprehensive home insurance policy that doesn’t mean that it will protect you in the event of an accident involving your contractor. In fact, because you invited the contractor to your home, your insurance company will most likely reject your claim. And even if your policy did somehow cover this type of accident, you may still need to pay a deductible. Why pay out-of-pocket for an accident that you didn’t cause? Instead, do your research and take the time to make sure that anyone you hire to work on your property has invested in an insurance policy that is tailored to their business.
Contact Wolfgram Insurance Agency Today
Interested in learning more about the benefits of investing in total insurance protection for your home and lifestyle needs? Contact our friendly independent agents at Wolfgram Insurance Agency for more information and be sure to request a free quote today.
