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Why would a contractor want to have the owner and the contractor on a waiver of subrogation?
When building a project financed by a construction loan, for example, a waiver would release the right of an insurer's contractual right to take legal action against a third party responsible for a loss to an insured for which a claim has been paid (Suppliers). ...
Asked in Liens
Can a contractor in Texas that worked on your house for another company put a lien on your house?
Yes. It is important to get original lien waivers each time you pay your contractor (do not give a check in exchange for a promise of a waiver). A waiver is a receipt of your payment and it is legal documentation that your contractor has paid the subcontractor or supplier. The waiver prevents the contractor and subcontractor from from liening your property for that amount of the payment on that subcontract. Partial lien waivers should detail the type of work done, the...
What is a waiver of subrogation?
A Waiver of Subrogation is a specific kind of endorsement on property-causal insurance policies. It keeps the insurer from trying to get restitution from third parties who cause a loss to the insured party. ...
Asked in Commercial Insurance, Liability Insurance
What does waiver of subrogation mean?
A waiver of subrogation in commercial insurance means that you waive the right for your insurance company to collect reimbursement from the insurance company of the other party. An example would be a subcontractor who is injured by the actions of someone in the employ of the general contractor. If a waiver of subrogation was included in the insurance policy, the subcontractor has given up the right to collect from the insurance company of the general contractor. ...
Asked in Home & Garden
When a contractor purchases a door to be replaced should he give the homeowner the receipt for the door?
It depends on the contracting and mechanic's lien laws in your state and your arrangements with the contractor. If you hire a contractor to "replace a door, labor and materials included" for a flat price, the job will include a factor for the time and expense to go and order or get the door and get it to your property, taxes and delivery charges included. Now when the contractor wants to get paid, and assuming you are in a state that requires...
Asked in Homeowner's Insurance, Colonial America
What is the wording in a non waiver agreement?
a non waiver agreement is a bi-lateral agreement between an Insured(policy holder) and the insuror(ins company) alerting both of a POSSIBLE coverage issue. This document is typically executed with the Insured prior to commencing with an investigation into an insurance claim the insured has submitted for coverage. The purpose of the non-waiver is to place the Insured on notice of potential coverage issue(s) that will be sorted out by the ins. co as the investigation proceeds. In a practical sense, it avoids...
Asked in Florida
Can a homeowner acting as the general contractor be sued by a sub-contractor in Florida?
It depends. if they are sueing you for non payment and its ur fault then yes. but if the insurance company holds the money and th contractors sign a waiver lien then no. they do that just to intimidate you. ...
Asked in Disability Insurance, Life Insurance
What is a waiver of premium with disability income?
Waiver of premium suspends the need to make premium payments during the time when you are disabled. A waiver of premium provision is not automatic with every policy. Instead, it is an option that one may be able to select in return for an additional premium. Frequently, the definition of "disability" for purposes of triggering the waiver of premium provision is different (often more strict) than the degree of disability needed to collect benefits under the policy. For example, one may be entitled...
Is there a way to suspend coverage on a vehicle that will not be used for a period of time but still keep it insured and reactivate the coverage when you want to drive it?
This is a contradiction: To "keep it insured" is to keep the coverage, not to suspend it. I think you are talking about a storage waiver, which is something a lienholder would be able to discuss with you. If you have a loan on the vehicle, the lender obviously requires you to keep the vehicle insured. If you STORE the vehicle, however, the lender can or may issue a 'storage waiver', allowing you to discontinue coverage for the time the vehicle is...
Asked in Car Rentals
Is collision damage waiver the same as under insured motorist protection?
CDW/LDW is a waiver, the rental car companies agrees not to go after the renter for any damages to the rental car (regardless of fault) if you purchase the waiver for a daily fee. As long as the renter does not violate the contract. If someone else is at fault they will then go after that person. It only covers the rental car, nothing else is covered ...
Does a car you re not using have to be insured?
Generally speaking, no. If your state requires that a vehicle with a valid registration also have insurance you can usually seek a waiver from the state for vehicles that are rarely if ever driven. ...
Asked in Insurance, Workers Compensation
What is workers compensation waiver of subrogation?
This is an agreement that allows the insurer to recover the costs of your claim from the entity that you file against, usually an employer. To be precise, as it applies to workers' compensation: A waiver of subrogation means an insurance carrier is waiving their right to "Subrogate" or attempt to collect compensation or share in the responsibility for a claim with the party in question. An example, say contractor A is working for Customer B. Under normal circumstances if an employee...
You are a sub contractor work by your self do have to pay workmans comp?
In some states being a sole proprietor with no employees allows you a waiver for the state required workmans comp insurance. However, many large companies as well as state and federal projects will require WC insurance, regardless of the waiver status. ...
Asked in Insurance, Auto Insurance
Why would an auto insurance company make you sign a physical damage consent form and tell you you can no longer secure standard manual rates?
Did you get in an accident and keep your damaged car If so that's why they had you sign a waiver The car is not able to be insured as it it now until its fully repaired and able to be insured again ...
Asked in Immigration
What is a visa waiver?
First of all, the term "waiver" comes up in Immigration law more than once and, in more than one case the term is related to a visa. Most commonly, "visa waiver" and "waiver of inadmissibility." There is a difference between a visa waiver and a waiver of inadmissibility. A visa waiver applies when a qualifying alien comes to the United States without formally applying for a waiver at a US consulate. ...
how do i get a waiver?
That all depends on what type of waiver and from whom. Your best bet it to contact the organization that you are trying to get a waiver from and ask them about the steps involved from them. ...
Asked in Loans, Liens, Deeds and Ownership
What is a homestead waiver?
Generally, a waiver is a clause in a mortgage whereby you waive your right to your homestead protection as to that mortgage. A borrower should request that language be added to make it clear the protection is being waived as to only that mortgage. ...