At Feivor Insurance, our team works hard to protect our clients. Sometimes, we need to be included in decisions before the fact to ensure there’s less risk. Here’s an example that may impact you if you are handling a home addition, new roof, or even just hiring a painter.
A homeowner decided it was time to expand their home. They wanted to add a second bedroom and bathroom onto the back of the home. The plans went through the city code and inspections just fine. Financing was in place. The contractor was hired. On the second day of the project, the contractor began to build out the foundation for the new structure. A worker, who was probably very inexperienced, suffered a fall that injured his arm and leg, leaving him unable to work.
Who is responsible in this situation? The accident occurred on your property and, therefore, could be a call to your home insurance agent. But, if the contractor had the right insurance in place from the start, we would not have to file a claim for you at all.
How to Verify Your Contractor Is Worthy of Your Investment
In a home improvement project like this, you may not think about calling your home insurance agent to help you. It could be the best step you take throughout the project. There are several reasons why.
#1: Let’s Verify the Type of Insurance the Contractor Has
A key part of hiring a contractor is to learn who the company is, what type of service they offer, and whether their past projects have shown quality workmanship. We encourage you to learn as much as you can about the contractor before hiring them. A part of that is allowing our team to check out what type of insurance they have or ensure it is enough for you.
- Workers’ compensation insurance is a requirement in Wisconsin for any company with three or more employees. Worker injuries may be covered under this policy, alleviating any risk that they may sue you for the incident (in most cases).
- Commercial liability insurance helps to provide financial support for the contractor if you file a negligence claim against it. This may include problems with the foundation or the workmanship of the contractor.
- Builder’s risk coverage may be necessary when you have a larger project, such as your home addition.
Verify the company’s Certificate of Insurance to ensure you know what they have. Don’t take their word for it.
#2: Let’s Verify Your Insurance Coverage
Even when you do your best to hire the right company, mistakes happen. Errors occur. And, you could be held responsible. Our team at Feivor Insurance can provide you with some support ahead of time. Let us verify you have enough liability insurance to help minimize any financial loss you suffer if that worker is hurt on the job.
#3: Let Us Verify Your Policy Has Enough Value
Now that you are adding a new addition to your home, we need to be sure to add this detail to your policy. Doing so helps make sure it has coverage if a fire or vandalism event occurs. It only takes a minute, but it can help you minimize financial loss in some serious situations.
Feivor Insurance in Shawano provides outstanding help to you in situations like this. It takes only a minute for you to verify these steps and, in doing so, you can help to keep your home safe even when you are hiring a company to help you improve its value.