An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
It depends on the concrete contractor. Some of them will be insured while others will be uninsured.
Need an insured siding contractor in Ft. Woth? Go to servicemagic.com and veiw contractor service reports and get a quote from the pros.
Generally you just ask the contractor if he's insured, before hiring them.
It is contractor's all risk policy to be insured by contractor for the work.
can a contractor have liability insurance backdated to show the company was insured
No, homeowners insurance does not provide coverage nor warranty for our chosen contractors quality of workmanship. That's why we always want to verify that a contractor is insured before allowing them to start work on our home. The first sign of a reputable contractor is that they carry the appropriate coverage for the work or services they offer. Never hire a an un-insured contractor.
When you are getting a contractor to paint make sure to ask the following questions: Are You Insured? What Kind of Experience Do You Have? Who Will Be Working At My House? What is the Timeline for My Project?
What is the average hourly rate for a landscape contractor-Licensed and insured
The CG2037 Additional Insured form is a form that provides coverage to the additional insured named on it (which is usually a contractor) for the insured's work (ie:completed operations) completed for that additional insured after the project is done for liability of property damage or bodily injury.
There is no legal requirement for a contractor to be insured as of yet. However, It would likely be very difficult to get any work or contracts if your not insured. Although the state does not require you be insured, your customers most likely will require it. Having General Liability Insurance though is the first sign that you are hiring a responsible and perhaps reputable Contractor. Most GC's and clients will require that you provide proof of financial responsibility or "insurance" before they will give you the job. You show up with a bid and no insurance, they might consider that you are not a serious contractor and you're wasting their time.
You are the insured. Your landlord or partner or banker may be the additional insured. They have a financial interest in or liability at stake with whatever it is you are insuring. It does not cost you more to name an additional insured. Why didn't you aks your agent this question? Can the person I was working for withold money owed to me because I did not put him under additionaly insured? Not legally unless it was contractually noted. If you did not have a loss you can just add the additional insured now. In a contractor/subcontractor relationship the contractor may request the subcontractor to name him "additional insured". In the event that a liability issue arises and is caused by the work of the subcontracor, the subcontractor's insurance will not only cover any claims made against the sub, but will also provide claims made against the contractor in regards to the sub's negligence. Many insurance companies DO charge a flat fee or a percentage based fee to name an additional insured.
The penalty is YOU LOSE. They are not bonded or insured and your loss is just that. GOOD LUCK!