Contractors: Five Things to Verify Before You Hit the Field This Season

The building season is finally here. Before you hit the field and begin your projects, verify that these five items are current before you go to work.

  1. Verify that you have the correct contractors class codes on your insurance policy. If you are planning  on entering a new area of service this year, be sure to add that class code  to your policy prior to providing the service.
  2. License and Permit Bonds and Additional Insured Statuses: Acquire the contractors registration kit from the building departments in the municipalities that you plan on working in. This will define their bonding and insurance requirements.
  3. Did you purchase any new tools or equipment? Inland marine coverage will provide protection for your tools and equipment. Be sure to schedule high valued items on your  policy or increase your  blanket limits  of coverage  to ensure that you have adequate protection.
  4. Are you planning on hiring new employees this year? Contractors insurance is rated on payroll. Verify your employee and subcontractor payroll from your prior insurance term. Develop an estimate for what your payroll will be fore the upcoming year and provide that to your agent.
  5. Be sure that all of your drivers are scheduled on your commercial auto insurance policy.

Once this is done, you are ready to hit the field. For more information on contractors insurance, license and permit bonds, or surety, give us a call at 216-965-0646 or complete the Request a Quote section to the right of this page.

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