Floods are undoubtedly one of the most frequent and destructive natural disasters that affect businesses across the United States. According to the Federal Emergency Management Agency (FEMA), commercial flood claims cost $90,000 on average to resolve. Also, it’s often especially expensive to repair water-related damages if a property is covered in mold or mildew. Therefore, […]
Read MoreWhat Does Professional Liability Insurance Cover If You’re A General Contractor?
General contractors are professionals who are responsible for overseeing construction projects, including remodels and improvements. They typically form direct contacts with property owners, verify that all workers on a project (subcontractors, suppliers, etc.) are compensated, and gather and organize lien releases from all of these individuals. Much like other professionals, such as architects and engineers, […]
Read MoreWhat Are The Requirements For General Contractor Insurance?
Contractors are professionals who supervise and coordinate the major stages of remodeling or other construction projects. Their responsibilities include overseeing and scheduling the tasks that subcontractors (i.e. electricians and carpenters) perform and obtaining permits for the renovation. Just like any other type of worker, these individuals need some form of basic protection against certain risks. […]
Read MoreDo Contractors Need E&O Insurance?
As a contractor, you may be wondering if errors and omissions insurance is really necessary for your line of work. E&O insurance plans are specifically designed to help contractors stay protected where it matters most and ensure that small disputes do not turn into financially draining legal battles. What is Errors and Omissions Insurance? E&O […]
Read MoreDo You Need Insurance As An Independent Contractor?
As an independent contractor, it is important to make sure you are protecting yourself and ensuring your self-run business is safe in the case of fraud, non-payment, and other important scenarios that are bound to come up in your area of work. Just like a regular business, independent contractors are also subject to liability claims […]
Read MoreWhat Does FEMA Flood Insurance Cover?
Floods are one of the most common natural disasters to affect homeowners in the United States each year, according to the Census Bureau. They also represent some of the most destructive events. According to Statista, damages caused by floods (including flash floods) in the U.S. in 2019 were estimated to have totaled $3.75 billion. Evidently, […]
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