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3. Secure Permits, Bonds, and Insurance In construction, it’s incredibly important that you operate according to industry best practices. Without the proper coverage, your business risks facing potentially devastating penalties or lawsuits if something goes wrong. ...
2. Contractor’s insurance cover and general liability Yourcontractor’s insurance policyis an important factor when it comes to choosing a contractor. Keep in mind that such a type of insurance coverage will protect you as a homeowner from incurring any responsibility for an injury to your contr...
Following the house building example, once you reach a tentative agreement with a contractor to build your home they would contact an insurance company to get a performance bond. How much they pay for the bond will depend on the overall cost of the project and the reputation of the builder ...
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