Tag: Contractors General Liability Insurance

The Third Party Action Over Insurance problem for NY Contractors and Commercial Property Owners

So why are some NY Contractors General Liability policies cheap, and others ridiculously expensive? What is a Contractor or Commercial Property owner to do? Over the past 20 years, third party action over claims are on the rise and the payouts are huge. The issue generally arises when a contractor is hired for a renovation or construction project in a building and one of the...

Hiring a Contractor: Handling the Contract

  The Contract Contract requirements vary by state. Even if your state does not require a written agreement, ask for one. A contract spells out the who, what, where, when and cost of your project. The agreement should be clear, concise and complete. Before you sign a contract, make sure it contains: The contractor’s name, address, phone, and license number, if required. The payment schedule...