Roger Stone Insurance Agency License #: 0821541 Blog

Roger Stone Insurance Agency License #: 0821541 Bloghttp://www.rogerstoneinsurance.com/blog/View Roger Stone Insurance Agency License #: 0821541's Website Blogen-uspostmaster@www.rogerstoneinsurance.comInsurance Website Builder - www.insurancewebsitebuilder.comurn:uuid:752a6c3d-04dc-4cce-b724-f98a2fc05983urn:uuid:59b86b58-2d9f-49f1-aab0-bff85e343ebbIt is important that building trade contractors understand the following. Arguably, of all your insurance needs, the most vital is a Commercial General Liability policy.  This is the insurance coverage that your customers want to see that you, the contractor, have in force.  Consequently many jobs require that yo...Fri, 02 Sep 2011 11:33:38 -0500Arguably, of all your insurance needs, the most vital is a Commercial General Liability policy.  This is the insurance coverage that your customers want to see that you, the contractor, have in force.  Consequently many jobs require that you show proof of coverage and a particular customer may also request to be named as an additional insured on the policy.  This coverage part insures you for damages your subcontractors may cause that may force you to be held legally liable.  However in order for you to receive the full benefits of this coverage there are some steps you must take. .   <ol> <li>Make sure: the subcontractor has a valid contractors license.</li> <li>Make sure: the work your sub’s hired to do conform to that which is stipulated on his license.  </li> <li>make sure:  you have a contract with your sub stating that he will hold you harmless for work performed by him and that he agrees to provide an additional insured endorsement as listed in #5.</li> <li>Make sure: all hired subs have a Commercial General Liability policy with limits the same or greater than yours and is in full force and effect.  </li> <li>Make sure: you receive a Certificate of Liability Insurance from each and every sub you use naming you as an additional insured and including a bona fide additional insured endorsement.</li> </ol>   If you fail to follow through with the foregoing your insurance carrier has the option to impose any of the following…   <ol> <li>Cancel or non-renew your policy</li> <li>Reduce the policy limits</li> <li>Consider hired subcontractors as “employees” and charge an additional premium.  (The difference between the employee and the subcontractors’ premium rate is considerable.)</li> </ol>   Remember any time you use a subcontractor it is as though you are doing the work.  You will be held accountable in the event of property or bodily injury damages occurring from your subs negligence and which he, and ultimately you, may be held as legally liable.   Remember also that you completed an application for Commercial General Liability insurance providing your insurance carrier details of your business operations, previous loss history, if any, as well as any additional information regarding your business practices as may be required by the insurance company underwriters.  Your business, through the application process, has been properly vetted by the company.  This is not the case when you hire a subcontractor.  The sub is added to all coverage’s under your policy just as you enjoy but the company underwriters have not reviewed his (the subs) business operations.  Consequently it is incumbent on you the policyholder to give due diligence and care in hiring subcontractors.   Leo Robinson Roger Stone Insurance Agency