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Old 04-20-2013, 11:45 AM
Shaving Acres Shaving Acres is offline
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Insurance

I had a builder ask for a copy of my insurance. What kind of insurance do I need in NC to work in the commercial industry?
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Old 04-20-2013, 02:30 PM
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CreativeLawncareSolutions CreativeLawncareSolutions is offline
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He's probably referring to your liability insurance.
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Old 04-20-2013, 02:37 PM
TeamYardsale4 TeamYardsale4 is online now
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Insurance

Most commercial properties up here require $1m liability coverage to even look at a bid
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Old 04-21-2013, 11:32 AM
Ben Harris Ben Harris is offline
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You need at minimum general liability insurance and possibly worker's compensation.

I am in NC and all our commercials ask for liability some want to see the worker's comp papers as well. They are both a must haVE if you want serious commercial clients.
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Old 04-21-2013, 01:46 PM
windflower windflower is online now
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If you don't have workers comp coverage for you it will be added to his premium when he is audited at policy renewal.
That's why he wants the certificate.
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Old 04-23-2013, 09:02 PM
rootytalbot rootytalbot is offline
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You might need to enclose a copy of your GL, made out to builders (clients) name, with your bid. Certificate of Insurance is what they call it.
If you have any employees or use Subs you might be required to provide Workers Comp as well.
Now is a good time to learn some terminology from your agent. Ask questions. A good agent is like a good equipment dealer - invaluable.
Its also good to know what type of policy you have. In some instances, if the policy is dropped, and there is no policy in effect, you will would not be covered for past occurrences. For instance, if you get a better price and cancel, then at a later date you get a suit filed against you, OOPS.
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Old 04-23-2013, 09:17 PM
rootytalbot rootytalbot is offline
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I think you can waive your Work Comp with the state board of commerce and insurance when you are solo. Then the client will have certificate to show at audit - and will not be assessed for your labor. I know it is that way in TN, and may be similar in NC. Work Comp on yourself is costly if you have health insurance already.
When I was building we had to have an I-18 form (waiver) for every subcontractor that was a solo, and it had to be notarized. I would give guys the form and tell them to go sign it and have it notarized and they never would, so I paid the 50 bucks, and got my own Notary Public so that I could stamp it for them. It was a pain, but at least back then (90's), you had freedom of choice when insurance was involved.
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Old 04-25-2013, 06:20 PM
OnaLawn OnaLawn is offline
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Quote:
Originally Posted by rootytalbot View Post
I think you can waive your Work Comp with the state board of commerce and insurance when you are solo. Then the client will have certificate to show at audit - and will not be assessed for your labor. I know it is that way in TN, and may be similar in NC. Work Comp on yourself is costly if you have health insurance already.
When I was building we had to have an I-18 form (waiver) for every subcontractor that was a solo, and it had to be notarized. I would give guys the form and tell them to go sign it and have it notarized and they never would, so I paid the 50 bucks, and got my own Notary Public so that I could stamp it for them. It was a pain, but at least back then (90's), you had freedom of choice when insurance was involved.
You are correct I am solo and have my workers comp waived.
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