Thursday, May 13, 2010
Adequate Insurance Coverage
I cannot emphasize the importance of making sure you (contractor) have adequate insurance coverage before you begin a construction project. Whether you are a sub or gc, take the time to assess primary and excess coverage and limits. Determine whether the policies are burning limits, work completed, wrap, and know the exclusions. Is coverage denied without a valid indemnity clause in the construction agreement? Are subsidence, mold, or sb 800 claims covered? Taking the time to address these issues at the onset can save you a lot of money and heartache. Call me for an insurance evaluation before your next project. I can be reached via www.voneschlaw.com.
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