Labor Force Insurance

Dallas General Liability Insurance: Contractors, Oh! How things have changed in the past just three years of Contractors Coverage because of “COI’S” Certificates of insurance. Currently “Like today” a local contractor was on the trashing floor in the throes insurance because of the newest “Thing” in the contractors world. This “THING” is called a compliance company, a company that has taken on the job of making the “Contractor” comply with what they deem necessary to conduct business with their client. All sounds like a way to protect the people at large from lascivious actions created by a not so reputable contractor. Here is how things might be different for the local Dallas General liability insurance holder.

The difference

These “Certificate Audit” Companies are most likely here to stay and have little problems with the larger contracting companies. The smaller contractor is another story. Another story all together and the end result can be painful for the small contractor. The smaller guy will not qualify for the benefits a Larger carrier of Dallas General Liability Insurance carrier. The reality is that the larger companies have a minim premium. This would be out of the realm of logic (Pricing/Premium) when it comes to the smaller contractor…however, dollar for dollar the larger guy is paying some 25 to 62% less than the small

• Electrician
• Tile/Flooring Contractor
• Handyman
• Framing Contractor
• Painting Contractor

Now, there is where things get lost in translation, sub-contractors and endorsements. Now, from day one there is going to be conditions that are going to be hard to be met, i.e. these “Auditing” companies for the most part are not agents. That is a start, the smaller contractor may be with a company the does not even Offer some types of endorsements.

Enter The Agent

The Dallas Insurance Agent needs to take some time here and ask questions of the “YOU” the prospective certificate provider. Things such as How many certificates will your company need in a year that ask for endorsements. Do you have any contracts with companies that use audit/compliance companies such as “Compliance Depot?”. Now, this may seem somewhat “OUT-THERE” yet, if you have a situation where you need a certificate NOW and this certificate needing a “city” of endorsements that are not offered by the company……well there is going to be a problem.

Let’s try Prospective

I do hear some people say thing’s such as “Well we can just change companies”….Let’s look at this JUST change companies idea. Let’s say that you bought a new truck, a six cylinder that seemed to do the job that you need just great and then one day you need more house power for “JUST ONE JOB” ok, will you just trade the truck in and get another one for this job. You know….just change trucks? It is the same principle insurance – it is quite possible but not necessarily logical to – “just change companies”.

Now, enter the agent

More than ever the agent has become very important as it concerns your Dallas general liability insurance. Understanding some of the nuances of what needs to be done on the certificates of insurance has become a primary concern especially the small contractor because of different endorsements and things companies will do and not do.

Disclaimer

Now, I wrote this myself at 2:07 AM on Saturday morning, this is my personal opinion and my opinion only. The information here and anywhere found on this blog roll or website is to be used as informational and entertainment purposes only. For more information on our disclaimer click here.