Insurance For Your Remodeling Company Can Make You More Money Than it Costs!

It is reported that in 2006 home owners spent nearly $140 billion on home improvements. Now that is a large market opportunity that your remodeling company should be taking a slice of. Savvy homeowners realize that their home is the largest investment they may ever make and savvy remodeling contractors can help sell their services by letting potential customers know they are adequately insured to protect themselves and the homeowner.

There are three critical insurance coverage's that all remodelers should carry: Builder's Risk, General Liability, and Workers' Compensation. The builder's risk policy provides coverage for property while under construction, including materials in transit, property stored at the jobsite, and value of the property being constructed till it is finished.

The general liability protects against acts of negligence and/or omissions resulting in bodily injury and/or property damage on the jobsite. The workers compensation provides coverage to your employees while they are on the job for work related injuries.

All three of these policies provide protection not only to the remodeler but also the homeowner. Being able to explain how your insurance protects the homeowner just maybe the selling point that makes your remodeling company stand out in the competition.

You might also consult with the homeowner about contacting their agent to review their insurance coverage. During the renovation they may also need to increase their coverage as well. If the homeowner is storing any items offsite they will need to contact their agent to adequately cover them while in storage. Being the jack of all trades is what makes a remodeler different than an artisan contractor. Make a point of including your insurance coverage as part of your selling points. Homeowners will appreciate your insight into their interest.

source: www.ezinearticle.com