Title: Repairing Contractor Mistakes
- make sure your contractor has insurance before hiring
- General Liability doesn’t cover errors in performance
- consult insurance professional
Repairing Contractor Insurance Mistakes
As a contractor there are many types of insurance products that are available to you and your business and deciding on which products and coverages that are right for you may be difficult and could lead to a mistake that could cost your business thousands of dollars or more! Smart Move Insurance, Inc. in Scottsdale, Arizona has licensed professionals with years of experience to help you discuss your Scottsdale business insurance needs to avoid these mistakes. There are hundreds of different classifications for contractors such as roofing, flooring install, carpentry, landscape, handyman and we could go on forever. Many of these classifications even blend in together making it very difficult for you and your business to figure out exactly what coverages you need and if you are covered for all aspects of the work that you may perform. One of the first items that a client will look at when deciding on a contractor to use is if they are licensed, bonded and Insured. Having just a general liabilty or business owners package policy may make you believe that your business is fully insured but you may be incorrect.
Did you know that your general liaiblty or business owners package policy likely doesn’t cover for errors in performance or work that is completed? Many business owners are under the impression that they are covered in these situations when in fact you may not be. Contractors Errors and Omissions coverage often referred to as Faulty Workmanship coverage is an optional and oftern forgot about coverage for contractors. Many insurance companies will offer contractor E&O starting with limits of $5,000 up to your general liability policy limits of $1,000,000 and can be added to your policy at minimal additional cost. Faulty Workmanship coverage is just one of thousands of different coverage options for you and your contractor business. Always speak and discuss your business with a licensed insurance broker like those at Smart Move Insurance, Inc.. One major insurance claim can have major impact on your business and even shut it down so make sure to call an agent at 480-397-9525 or online at www.smartmoveinsurance.com.
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