How to find a good contractor to work with!

[John Eliot]

Hi All,

I was listening to the podcast the other day and David was talking about the challenges of finding a good quality contractor to work with. There's no doubt that this would be one of the more important things to get nailed down when starting out. 

Well you should ask a commercial insurance agent! That's what I do over here in Southern Oregon and I have a bunch of contractors insured. I know who's new, who's been around for awhile, who's flaky and who's reliable. If a real estate investor walked into my office right now asking for a referral to a good contractor, I would have no problem coming up with 5 contractors or so that they could meet and interview.  Aside from just whether they always pay their premiums or keep their licenses and bonds in force, we see the contractors that go the extra mile to implement best practices when it comes to selecting coverage, safety programs and having a solid subcontractor agreement with proper risk transfer. 

While there are exceptions to the rule, you'll want to call a broker/independent agent who deals primarily with contractors. A captive/direct agent who works primarily with one company is less likely to  have the resources to be able to properly assist this class of business. So stick with the brokers.

Maybe this has been mentioned in the past but I thought I would suggest it for those looking to put this piece of the puzzle in place. 

Sincerely,
John Eliot (OR. Lic# 8747850)
Protectors Insurance