Blog
We just added a NEW GENERAL CONTRACTORS INSURANCE PROGRAM market. Here are the details….
AM. Best Rating, A- IX (Excellent)
Classes of Business
• Residential General Contractors — up to 50 homes per year, up to 10
home per development or project
Residential & Commercial Remodeling Contractors
• General Contractors — Apartment, Condominium, Townhouse – Up to 12 units per building and up to 4 buildings per complex under construction
• Operative Builders — up to 50 homes per year and up to l0 homes in a
single development or project
• General Contractor — Commercial Construction — Mercantile and Retail
Buildings
Coverage Features
Commercial General Liability including Products and Completed Operations
• CG 00 01 1001 Full Occurrence Coverage Form
• Sunset Options Available
Additional Insured CG 20 101001
Additional Insured CG 20371001
Blanket Additional Insured CG 2033 1001
Additional Insured
(other forms and versions where needed)
Stop Gap Employer’s Liability Coverage
(where needed)
Employee Benefits Liability Coverage
Sudden and Accidental Pollution Coverage
Blanket Waiver of Subrogation
Aggregate Per Project
Contractual Liability — Railroads
Call today for a quote on your California and Nevada contractors insurance. We look forward to having the opportunity to earn your business.
www.lemoreinsurance.com or call 818-348-6106 to speak to a commercial insurance broker.
Are Your Subcontractors Insured Under Your General Liability Insurance Policy?
Most businesses and consumers assume that subcontractors that are hired on behalf of a business are covered under that business’s general liability and workers compensation policies. This is most often not the case.
Most general liability policies contain a subcontractor exclusion. The subcontractor exclusion clause excludes coverage that is caused by a subcontractor. In such cases the business that is hiring the subcontractor must protect itself from damages that can be caused by the subcontractor that was hired to do the work. The best way for a business to protect itself from damages caused by a subcontractor is to make sure that the subcontractor has adequet coverage. There are two steps that must be taken. First, the company must request to become an additional insured on the subcontractors general liability policy. The second step is to request a copy of the subcontractors policy to make sure that the terms, conditions and exclusions of the subcontractors policy are acceptable to the business that is subbing the work out. After all, what good is it to be an additional insured on a policy that carries every exclusion under the sun? The terms, conditions and exclusions of a policy are not disclosed on the additional insured certificate and the business that subbed the work out will not know this information untill there is an uncoved claim. By this time, its too late.
Don’t let this happen to you. Check your policy to make sure you and your customers are properly protected against damage or injury.
Need assistance with your business insurance, contractors insurance, truckers insurance? Call Lemore Insurance. We specialize in , workers compensation insurance href=”http://www.lemoreinsurance.com/form-commauto/”>commercial auto insurance.
California and Nevada Contractors Make Employees Become Independant Contractors In An Attemp Get Cheap Contractors Insurance Costs
Contractors are trying to save money on their contractors insurance by making their employees independent contractors. Contractors cannot afford their general liability insurance and workers compensation insurance in this economic environment when they are finding it difficult to stay in business all together. The bottom line is that both general liability insurance and workers compensation insurance become more expensive as the contractor has more employees and the annual salaries increase. It is much more cost effective for the contractor to make his employees go out and get licensed by the Contractors State License Board themselves. Once the employee obtains a contractors license he can now be considered an independent contractor.
Lower insurance premiums for general liability insurance
Now that the employee is considered an independent contractor the general contactor’s general liability policy no longer covers the work of the independent contractor. However, this means that the general contractor no longer has to claim the newly independent contractors annual pay as salaries. This brings the cost of the general liability insurance down substantially. This money can now be listed as subcontracting costs in stead of salaries which is cheaper from a premium stand point.
Lower insurance premiums for workers compensation insurance
The other benefit to the general contractor who changes his employees to independent contractors is that the contractor no longer has to pay for workers compensation insurance for that particular person. The independent contractor is now listed as exempt from workers compensation unless he hires employees. But as long as the independent contactor has no employees or helpers no workers compensation insurance is needed. The general contractor no longer has to pay workers compensation insurance premium on this individual nor does he have any liability over an injury that occurs on the job.
Great for the general contractor – not so great for the independent contractor
This situation is terrific for the general contractor. First, the general contractor no longer has to cover the employees work or the employee against work injuries. The second benefit is that the general contractor also avoids having to pay parole taxes to the state and federal government. However, for the new independent contractor this means a lot of changes that are not exactly beneficial to him. First, he will now have to purchase general liability insurance of his own. The independent contractor no longer has coverage if he is injured on the job. From a tax stand point the independent contractor will not have a check back from employee taxes that were withheld from his paycheck all year long. In fact, most of the time the independent contactor will have to pay tax on the his profits. The bottom line is that changing an employee to an independent contractor is beneficial to the employer and not to the employee.
Need assistance with contractors insurance Califronia, or contractors insurance Nevada?