“Chuck in a truck” will often be less expensive than a Professional Fence Company but there is the lesson “you get what you pay for.” Business insurance is very expensive and is often what separates the Pros from the Chucks.
All contractors should have General Liability coverage to protect you and your property. An acceptable amount of coverage is $1,000,000 for small home improvement projects. Unfortunately, there are scams where individuals will pay their first month’s premium, and get their COI “Certificate of Insurance” that shows a policy effective for a year. They stop paying the premium, coverage is no longer valid but they still have their COI to show you. This is why you always ask for a COI that has a current date in the top right corner. If you have any doubt, you can always call their agent listed on the COI to verify their current policy.
Workers’ compensation – this is a VERY BIG deal. A company policy will cover all company employees on your property and is your best protection.
For the one-man band contractors, Florida has a “Workman’s Compensation Exemption” option which is a declaration that the person named on the exemption card has declared that if he/she is to be hurt, they accept all financial responsibility. It does not cover any helper/s that they might have with them. That means if the helper is injured, they could make a claim on your homeowner’s policy. Can you imagine what would happen to your annual costs with an injury claim?
Attached are examples of COI’s and what to look for. Regardless of who you choose for your home improvement project, this will give you the tools to make an informed decision.
