Labor Force Insurance

Contractors Insurance: Dallas General Liability: Let’s talk cash. First of all the cost of things is relative to your profitability, I’m sure you are thinking tell me something I don’t know. Our goal here at labor force insurance is simple: be as efficient as possible which equates to speed for the end-user – and that would be you Mr. Contractor. Take the information right the first time. There are questions that the company (Think as an example Hartford) will want to know. We haven’t forgotten our mission statement of this particular blog – money. This isn’t the breakdown or the anatomy of a Dallas general liability Insurance quote, rather the finances involved.

Accuracy

The determination of your premium (how much you pay) is directly tethered to your exposure (what you do for a living) the mathematical equation that makes the final determination of the rating factor is going to be based on a few things supplied by the contractor. There will be things all the way down to how high above the ground to you work? Also or just as important is what you do not do during the course of a year and embedded of your contracting. Let’s use the following as a base line:

• Electrician
• Paint contractor
• Contractor for Exterior Paint
• Remodeling
• Make Ready

Now, because we have never spoken I will have to say that we as a company do not know your particular situation yet after 11 years of writing policies licensed by the state of Texas we do understand in general the makeup of the overall landscape of underwriting four Dallas general liability.

Enter the Web-Site

Web sites are like an electronic brochure, explaining to the public at large your expertise in your particular type of industry. Sometimes (not every time) people place their relationships on their website. As an example a painting contractor may list welding services all the way to plumbing on his/her website simply because they have a relationship with a welder and plumber and by that virtue these different types of services and up on the website. This same website can be found in most likely will be found by an underwriter, this underwriter is going to have questions about plumbing and welding for the man who just asked to place general liability on his coverage for some $1 million and did not expose the fact that he was also plumbing and welding. The truth in so many cases is that the website did not bring them any plumbing are welding jobs. Here’s where it gets interesting…

Exposure

Exposure: is the definition of what you do that creates the risk which fits inside of the algorithm divided by number such is your gross receipts and labor cost and then at the and translates to the amount you will pay in one year (think premium). Now when you put on your website things that your neighbors do the underwriter becomes nervous and was to charge for those exposures. This happens a lot more than one might think and many many times the underwriter says (I think we will pass on this risk) Meaning we just lost our ability to write your company with that company. Translation to simple English: this can cost you money.

Disclaimer

Now, here we go again: this blog is for entertainment and information purposes only. For more in-depth explanation of our disclaimer please click here. Also we make absolutely no warranty or guarantee whatsoever and this is written by one person that person is me and I am giving you my personal opinion and nothing more. Have a blessed day from Dallas general liability Insurance.