Making Sure Your Basement Waterproofing Contractor is Properly Insured | Joliet, IL

You’ve heard it said often that you should ensure that any contractor working on your property has the right insurance coverage. But what exactly does that mean? How can you make sure that you won’t be held liable for accidents or damage they cause?

Types of insurance your contractor should have

There are two types of insurance basement waterproofing contractors should have. While some contractors have both, others may carry one of these.

  1. Workers’ compensation

This insurance is important for covering medical bills for any injuries that the contractor’s employees may suffer while working on your property. It also covers lost wages and anything else related to the injury.

If you should hire a contractor that doesn’t have this insurance coverage, you will be leaving yourself open to legal suits for compensation for any injuries the contractor’s employees may suffer while working on your project. This can easily drain your finances. Taking the precaution to check for this insurance and ensuring that it is current could spare you a fortune.

  1. Liability insurance

This insurance covers any property damage caused by the contractor while working on your property. The insurance will also cover medical treatment for any injuries that occur while the contractor is working on your property. This means that you will be compensated for any items that the contractor breaks for example.

Joliet, IL | Everdry Illinois - Basement Waterproofing

Minimizing your risk 

Many basement waterproofing contractors will tell you that they are insured. However, don’t take their word for it. They are, after all, trying to get more business. It’s important to check if they actually carry insurance.

If you want to minimize your risk you should:

  1. Ask the contractor for copies of their insurance policies. Any good contractor will be willing to give you this information.
  2. Verify their policies. Check to see if the insurance is still valid. It should be valid for the period that the contractor will be working on your property.
  3. Let the contractor obtain the building permit. Don’t do this on your own. The contractor ought to do this on your behalf.
  4. Discuss safety with the contractor. Ensure that he takes all safety precautions necessary on the sight. Ensure that your entire household is alerted of the risks involved and the precautions to take.
  5. Ensure the contractor uses their own tools and materials. Don’t loan or supply them with anything that will be used on the project.

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