Hiring uninsured contractors

[Mark Davis]

What are the risks of hiring a contractor who is not insured?

[Marcus Geiser]

You may also want to check into your contractors vehicle insurance. In addition to Liability, Workers Comp, Comm. Vehicle coverage is needed. I just had my insurance guy tell me that my liability has exclusion for loading and unloading the truck.

Insurance is a cost of doing business. As a professional remodeler it is my business to protect my assets and my investors.

You should call a business insurance specialist and request a consultation. Tell them what you are doing and how to protect yourself. When I hire subcontractors I make sure they have "THE RIGHT" coverage. I hate to do it but when I have a good feel for a guy I pay to get the coverage started. I look at it as a deposit.

You will not find ANYONE for $10 an hour with adequate coverage. Be careful protect yourself. On a bigger project a performance bond.