- July 27, 2016
- Posted by: Aimpro Insurance
- Category: Article Archives, Business and Commercial
Hiring a subcontractor is no small fete. Check out how to keep your business safe!
Gone are the days where you used to hire a subcontractor with a conversation and a handshake. Nowadays, the paperwork to hire a subcontractor can stack up, along with the fees. Nevertheless, written contractors can save you the high legal costs associated with surprises and misunderstandings.
Before you ask the first subcontractor to take on your project, read on for five things to check out before signing on the dotted line!
Invest in technology subcontractor insurance.
If you hire a contractor from a staffing agency, the agency may provide insurance for its referrals. This coverage may include Workers’ Compensation Insurance, which protects your team on the job. If you hire a professional agency, they may already hold this insurance. If that’s the case, you should require subcontractors to carry their own liability insurance or add on insureds under your policy.
Check past work and references.
Complete thorough research into a subcontracting company. Always check references and look for examples of their past work – good and bad. Even though you may be in a hurry to get the project completed, it’s worth sparing a few minutes to check out a few companies.
Review client contract requirements.
Your clients may want you and your subcontractors to have General Liability Insurance. Coverage may cover lawsuits over third-party bodily injuries and accidents. If you’re working onsite for a client, they may want financial protection in case you break something or cause an injury.
As more companies are hiring contractors and maintaining a flexible workforce, remember to follow the best practices to protect your business! For the insurance policies that will keep your company in good stead, contact the professionals at Aimpro Insurance, serving Phoenix and neighboring cities in Arizona.