Why its important to vet your contractors

[Todd V.]

Why you want to make sure you are vetting Contractor's and Sub-contractors not only credentials but also their surety bond, liability insurance (which is different from a surety bond), workers compensation insurance. Here are a few very important benefits on why you want to vet your contractors.

1) Sub-contractors falsifying their surety bond or liability insurance information would then put in effect your liability insurance. Costing your company money by higher premiums!

2) According to Insurevent “If your (Independent Contractors) don’t have Workers Compensation Insurance or WC you may be responsible to their injuries. Numerous court cases have ruled the hiring party is responsible for injuries to independent contractor’s employees when the independent contractor did not have their own WC insurance.

The point here is the credibility is making sure that the contractor or sub-contractors are legitimate contractor’s or sub-contractors which brings more credibility from the bottom up.