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Spruce Up Your Contracting Coverage This Winter

February 15, 2016

Adam Winters

While few people are undertaking a kitchen renovation or having their home painted in the middle of winter, warm weather is right around the corner and home improvement projects begin before the first spring flowers even begin to bloom. If you’re a contractor, you’re probably enjoying some well-deserved down time.

However, while the snow is on the ground, take the time to review your needs before the busy season kicks into high gear. You may find your contractor’s insurance coverage policy could use a spring cleaning!

Ask yourself the following questions:

  • Am I properly protected? Even the most careful contractors face risks, as accidents happen. Make sure safety measures are incorporated into every area of your business, even if it means adding a little additional time. In addition to you, your work can put those around you at risk. Make sure your policy not only protects you if you become injured on the job, but that it also factors in those that could be impacted by your work.
  • Are my equipment and my materials covered? Having the proper tools to assist you in your work is crucial in the contracting world. Ensure all of your equipment as well as the materials you purchase to complete jobs (i.e. – expensive countertops or heating units) are sufficiently insured. Thefts on jobsites occur, without the proper coverage your business could take a huge financial hit.
  • What about my property and my worksites? Not only do you need to ensure you haContractorsve coverage in case anything happens to the physical location you work out of and store your equipment and materials, but you need to also think about the building you’re working on as well as those around it that could accidentally be impacted by your work.
  • Are my contracts and waivers buttoned up? Seeking the legal counsel of an attorney is a smart investment to make sure your documents are strong and would hold up in court. Do you have the correct bonds required? How about Certificates of Insurance?
  • What about my workers and my work? If you employ others, you need to be prepared for employee injuries and illness. Similarly, you need to ensure you’re protected in the event you face a lawsuit. When was the last time you reviewed your Workers’ Compensation policy? Do you have any outstanding claims that should be addressed?

Each contractor’s needs differ based on size, whether you employ others as well as the work and services you provide. However, investing a little time now to make sure you’re covered before the earth thaws will allow you to immediately focus on providing your customers with the best workmanship and service as soon as spring arrives.

Adam Winters

Commercial Lines Account Manager

awinters@foundersgrp.com

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