In addition to the contracts, you will receive many insurance certificates. Certificates are reflections of the insurance that is supported by subcontractors. I must point out that all the insurance companies have put these procedures in place, so changing companies will not solve the problem. Selective property options offer various limited options for a variety of insurance coverages, including debtors, valuable papers, computers and media, installation property and real estate during the transition. Below are the contracts you need to use between your company and ALL the subcontractors you will use in the coming year. Now contact all the subcontractors and get them to sign the contract. You have to explain to them that if they don`t fill, then you can`t fix them. COMMERCIAL VOITURE One million liability limits must be one million uninsured/underinsured limits If the subcontractor did not insure vehicles under a commercial automobile policy, then you have to buy separate rental and non-responsibility insurance, which must have a million dollars of liability, compensation of workers part 1 of the policy – the law must have the second part – the employer liability limit of $1,000,000. SHOULD Injury by Accident: One million per accident must be bodily harm by illness: One million policy limits must be bodily harm by illness: one million per employee must also be very important as the owner, LLC member, partner must be explicitly included as insured and the insurance certificate must prove it. Muss For decades, Selective has been offering first-class insurance products and services to business entrepreneurs that will help you build your businesses and your customers. Please contact this agency if you have any questions, if you need insurance or if you need additional help. 973-377-6100 In addition to tailored insurance coverage for real estate and liability companies, we offer security management services and flexible payment options such as PaySync ®, our cash flow-friendly payment plan.
Contracts for contractors – This is very important for any contractor who hires another contractor to execute contracts for that contractor, to have an agreement (contract) between them. All insurance companies need an employment contract. In addition to complying with insurance requirements, it offers protection and a legal defence tool for the contractor (GC) recruitment of subcontractors. Protecting your business is not just about insurance! You must provide this agency and the insurance company with what is described below. A default results in cancellation/non-renewal and/or a large additional premium will be charged. Below, you will find the requirements that you must – should meet by all insurance companies. In the event of non-compliance, either termination, non-renewal of the policy or examination lead to all subcontractors being taken care of as employees and not as subcontractors. This will result in a high premium. Risk management reduces your chances of claim/loss/violation/prosecution/etc. When you get in your car, you put on your seat belt to reduce the risk of injury in the event of an accident.