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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.
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What kind of insurance do you need for a housekeeping business?
General liability.(contractor's)
Do you need a general contractor license in Carroll county Maryland?
A person will need a general contracting license in Carroll County, Maryland if they are performing duties in which they would need to be covered by insurance or a specific company. A general contractor will contract out work for other people to do.
Where to get general liability policy for general contractor?
Contact a licensed commercial insurance agent in your area. It will be able to assist you if it do not sell the particular coverage you need by referring you to another broker. Do a search for general liability insurance for your state and hundreds of agents will show up. Make sure you use a contractor insurance specialist however.
How much is the application fee for a general contractor license in Texas ?
Technically speaking, Texas does not have a general contractor license. If you are performing "specialty" work such as electrical or HVAC contracting (among others) you will need a license but otherwise, there no issue. Cities and counties, though, do have the right to require licenses. There are several types of contracting licenses, for a general contractor you will probably need all of them. For instance in Texas, the license fee for plumbers is $155, an electrician is $50, etc.
What kind of insurance does a self employed contractor need?
A self employed contractor general liability ins., Workers comp if a corporation, but whoever is the bond company they should be able to assist in insurance coverage for the company.
How much professional liability insurance does a sole proprietor painting contractor need?
A contractor Buys Commercial Liability Insurance in the contractor class, not professional liability insurance. The amount needed is typically determined by the exposures presented or as specified by the employer.
Why does a contractor need a professional liability insurance policy?
A contractor typically needs a Commercial General Liability Insurance Policy. If the contract includes professional services, then the contractor will likely be required to carry Professional Liability Insurance, either in addition to, or in place of a CGL policy. It really just depends on the nature of the services contracted.
What type of license does a general contractor need?
Normally a general contractor just needs a state license. Depending on what he does he may need additional licenses.
What insurance should a contractor have when performing work on my home?
You should at least make sure that they are carrying $500,000 - $1,000,000 in liability limits on a general liability policy. This will protect you from any losses that they may cause such as a fire etc. You need to ask them for a certificate of insurance. Make sure you get it from their insurance agent and not the contractor.
As an independent sub-contractor are you required to get professional liability insurance?
This depends on a number of things. It's hard to say without knowing what kind of work you are sub-contracting. First determine if you need Professional Liability coverage Or Commercial Liability Coverage. They are very different products. Most General Contractors do require the subs to carry insurance. Otherwise the General Contractor will have to pay much more for insurance coverage that effectively covers his or her own activities as well as those of the sub-contractors. If the General Contractor you are doing work for already has coverage for his subs under their insurance (usually not). What is the nature of your agreement with the General Contractor. Some Contractors insurance policies cover subs while others do not.
Does homeowners insurance cover damage to your neighbor's property caused by construction on your property?
Actually, This is covered under your Contractors General Liability Insurance. If your contracting builder does not have insurance, you need to get rid of him, and find another contractor immediately.
Do you need a license to sell commercial insurance in Texas?
Yes, you need an insurance license to sell any kind of insurance in Texas. For "Commercial Insurance" operations, you will need a Property and Casualty Insurance License form the state of Texas.
