Do You Know What Contractor Insurance Liabilities Might Exist?
Contractor Insurance Liabilities Can Completely Hinder Your Investment
Did you know that contractor insurance liabilities might exist right on your real estate investment property? If you are doing construction work on your property, and you are working with contractors, here's what you need to know:
What Are Some Contractor Insurance Liabilities?
Essentially, any injury that a contractor faces can become contractor insurance liabilities. There are a number of hazards associated with the construction of your real estate property, even if you do not think there are. For example, your contractor may step on a nail and get an infection, they may fall off a ladder, or suffer some other type of injury.
If you are not properly covered, then you may be liable for any one of these!
How To Protect Yourself From Contractor Insurance Liabilities
The best way to protect yourself in the event of an accident or an injury, is to make sure that you have the right insurance. You should also know whether or not your contractor is insured or uninsured right out of the gate. If they are not insured then this is yet another way in which you may be liable!
There are also other ways to protect your investment. For example, you should also consider getting workers' compensation, subcontractor insurance, and so forth.