Dallas, Whoa what a difference a week makes
Dallas Contractor General Liability Insurance: Well it’s a beautiful week ahead, and we here at Labor Force Insurance certainly know there is nothing wrong with wanting to save some money when it comes to your insurance premiums, because it is a real cost of doing business in the world of small contractors especially. We are going to discuss some options you may have to potentially lower your cost of doing business as it relates to commercial insurance. We also want to remind you we are here to help provide answers about coverage’s and will also provide you with quick and virtually painless free quotes, to actually see if you may be paying too much. One thing that we will advocate, is if your existing pricing is good and coverage’s are adequate, it is our suggestion you stay right where you are, and that is information we can have for you in just a few minutes regarding your Dallas General Liability Insurance.
NOW, HOW TO ACTUALLY SAVE
First let’s discuss this thing called rate. As an example, let’s say that the rate for an electrician is 14.5 to every thousand dollars of payroll will equate to $145 in premium. Now every type of craftsman, whether it’s a painter, remodeler etc. will have a unique class code that relates to their specific code and therefore a comparable rate. It is fairly obvious that the rate for someone pouring concrete is going to be more expensive than someone doing interior painting, just stands to reason. Now the rate factor brings up the next big issue with regard to this Dallas contractors General Liability Insurance.
YEP, YOU’RE RESPONSIBLE
Now if there is something that I hear more often than not from small contractors is the statement to the effect that “I don’t have any employees”, and let’s just set the record straight, if they are your subcontractor that you engaged to do work on your job, you are responsible for any loss they may incur. So to keep this in perspective, if you hire any kind of subcontractor to work with you, and they are in some way negligent, it’s you who is responsible and this can include such artisans as:
Now this list is not exhaustive by any means, it can go on to include handyman, remodelers and flooring contractors etc. etc. but this give you an idea of just how many job descriptions and different types of codes that could apply to your circumstances. Ok, now let’s move into the meat of the subject, trying to find some ways to possibly save you some money on your Fort Worth General Liability Insurance.
SAVING SOME REAL MONEY
Now the first real savings may come if when you hire a subcontractor that they name you as an additional insured and also provide a waiver of subrogation. With this situation alone, you may be pleasantly surprised that your insurance premium may be reduced by as much as 80% – 90% or more. Now of course there is no guarantee that this level of savings will be achieved, and realistically many companies aren’t large enough to even have subcontractors, yet the savings are possible depending on circumstances. Also, keep in mind that all this is determined by an insurance certificate. So, if this may be of interest to you and you want to pursue the possibility of achieving these types of savings on your commercial insurance, please feel free to contact us here at Labor Force Insurance for a free quote and some friendly and quick service and that is our goal for you.
NOW FOR THE PROOF
Now the most important document to achieve this discounted rate is for you to provide a certificate just in case there may be an audit required by the company. If this occurs, you will be asked to provide the certificates of insurance (COI) for the audit procedure. Now this bring us to the obvious statement that if the certificates are missing this could be a costly error for you and your company, and could ultimately mean that you will be charged the full rate applicable to your type of business. Finally, we will have some videos regarding these types of scenarios available on our website very soon, so stay tuned for that great information Dallas Contractors Insurance.
JUST TELL THE TRUTH
We will close by saying that when it comes to disclosing your labor cost in the application you submit, it is imperative that you tell the truth to the best of your ability, because the labor cost is everything, therefore you must include everyone that works for you and any applicable labor expense that is associated with that job for you and your assets to be comfortably protected in case of a loss. And the last thing you want is for a claim to be denied because of poor or inaccurate information you provided. Well, enough for now, let us again thank you for stopping by and hope to see ya real soon, and have a blessed day. Call us on Dallas Contractors Insurance.
DISCLAIMER
Please keep in mind that I wrote this blog personally and it is my opinion, and I do not guarantee or warrantee anything whatsoever. This is for your information and entertainment only, and if you have a problem or concern about this disclaimer, please click here now and have a great week. If you have a question on this Disclaimer Click here.