A carpenter at DeCiantis Construction had his tools stolen from his truck while it was parked in his driveway. His vehicle insurance didn't cover the loss because he had not specified the tools in his policy. His coworkers came to the rescue, donating their tool allowances to help him replace what...
-
Most business insurance covers the office structure and some property but may have limited coverage for tools and equipment. If your policy does not cover off-site equipment, you should consider inland marine coverage. This is a separate insurance that can be purchased as a stand-alone or endorsed...
Imagine every one of your jobs has two clients, and that the last thing they planned on doing together is a remodeling project. Imagine also that they can't agree on the scope of work, the budget, or the schedule, and that at your initial meeting, one client is always in a state of extreme...
-
Two common lawsuits in remodeling are for breach of contract and negligence in the performance of services. Negligence suits arise from damages sustained due to the contractor's failure to perform according to known standards in their field. There must also be a close relationship between negligent...
-
The Small Business Administration's Surety Bond Guarantee (SBG) Program is a partnership between the federal government and the surety industry to provide bonding to small and emerging companies.
-
Commercial clients and most governmental agencies require contractors to be bonded to both bid on a job and complete the work. A bid bond is submitted at the time of bid. It states the contractor has financial assurance from a bonding company that the bid has been submitted in good faith and will...
-
Faced with a serious insurance crisis, builders and remodelers in New York are taking matters into their own hands.
-
Many home improvement and remodeling companies classify their installers as "independent contractors" for federal and state tax purposes, saving up to 15% in payroll taxes and administrative costs. However, if the IRS or a state tax agency finds that you misclassified a worker, you may be subject...
-
By Hayden Alfano. We try to be a professional company that chooses to be in the remodeling business," says Frank Zehna, president of Christian Roofing & Remodeling in Athens, Ga. By cutting marketing and other expenses and raising sales goals, Zehna is now able to provide it and pay 50% of the...
-
Remodeling has progressed in its long march toward professionalism, but unethical and unqualified contractors still plague the industry. Most readers agree that to continue its advancement, the industry needs to establish standards for quality and ethical behavior.