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Does General contractor liability insurance cover default of payment to subcontractor?
Wiki User
∙ 13y ago
no
Wiki User
∙ 13y ago
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What is an insured contractor?
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
Can general insurance be backdated?
can a contractor have liability insurance backdated to show the company was insured
What is the Liability of homeowner acting as General contractor?
Homeowners insurance does not have liability coverage for your job occupation. You can obtain contractors insurance for liability coverage.
What kind of insurance do you need for a housekeeping business?
General liability.(contractor's)
Does a contractor need to be on the subcontractors policy as additional insured?
This is not as simple a question as it may seem. Subcontractors generally carry their own liability insurance. The General Contractor should verify that the sub contractors insurance either matches or exceeds their own policy limits as this is part of the contract terms for almost every general liability policy. In effect if you let an uninsured subcontractor work on your job, unless you endorse your own policy to cover the subcontractor and pay the additional premium, their would be no coverage under the General Contractors insurance policy for liabilities of the Subcontractor. Basically if you get this wrong, the General contractor will be on the hook and out of pocket for all the subs damages with no coverage for it. If you want the subcontractors covered under the General Contractors insurance policy it can certainly be done but will be significantly more expensive as you would be asking to insure a third party''s work.
How much professional liability insurance does a sole proprietor painting contractor need?
A contractor Buys Commercial Liability Insurance in the contractor class, not professional liability insurance. The amount needed is typically determined by the exposures presented or as specified by the employer.
Where can one find a contractor for general liability insurance in Mobile Alabama?
Yellowpages is a great resource to find a contractor for general liability insurance in Mobile, Alabama. The website contains contact information for multiple contractors.
Subcontractor Agreement?
Get StartedA Subcontractor Agreement is an agreement between a general contractor (the "General Contractor") and another party who has subcontracted to perform work and services for the General Contractor (the "Subcontractor"). The General Contractor is the party who will contract directly with the owner of the property on which the Subcontractor will be working. Frequently, the General Contractor has portions of the larger project that the General Contractor prefers not to do. Therefore, the General Contractor contracts those portions out to another party, the Subcontractor.If it is available, the Subcontractor may wish to review the Original Contract between the Owner and the General Contractor to be sure that there are no conflicting terms between it and the anticipated Subcontractor Agreement.This agreement allows the parties to describe which services and materials the Subcontractor will provide, specify the price for the work, and assign various rights and liabilities between the parties. Important provisions regarding indemnification, insurance, change orders, unforeseen conditions, defaults, the nature of the parties' relationship and miscellaneous concerns are also included.This agreement should be signed by both parties and becomes effective as of the date inserted at the beginning of the agreement.
Why would a subcontractor get a general contractor license?
So they can work as a general contractor and not have to work for someone else.
Can a subcontractor provide a clear scope of work for their subcontractor?
Do you mean a contractor? Normally a contractor will hire a subcontractor to perform a portion of the entire scope of work. An example is that a general contractor will hire an electrician to install the wiring in a house.
Why does a contractor need a professional liability insurance policy?
A contractor typically needs a Commercial General Liability Insurance Policy. If the contract includes professional services, then the contractor will likely be required to carry Professional Liability Insurance, either in addition to, or in place of a CGL policy. It really just depends on the nature of the services contracted.
What insurance obligations contractor have if subcontractor has no insurance and caused the loss?
The primary contractor is going to have to cover the loss since the uninsured sub was working for them. It is the General contractors responsibility to make sure his sub-contractors were properly insured.
