Why Should You Make Sure a Company is Bonded, Licensed and Insured?
It’s not uncommon to hear the terms bonded, licensed and insured in advertising. But what do these terms actually mean when it comes to choosing the right roofing contractor to take on your project? We’re taking a look at the meaning behind each term to help you understand the importance of these qualifications.
Roofers are generally issued a trade license, as mandated by local and state laws. A state or local license requires passing a competency test centered around specialized trade skills and business practices. In most cases, obtaining a license also requires a fee and dictates the holder offers bonding and/or insurance.
Bonding safeguards a consumer in the event a contractor does not finish a project or does not pay for permits. This provision also protects the homeowner in case the contractor does not meet other monetary obligations, such as paying for subcontractors or supplies. It also covers any potential damage workers may cause to your home.
It is perfectly acceptable, and advised to ask a contractor for a certification and bond number. This will allow you to confirm that she or he is bonded appropriately. In the event work is not completed or is not up to your standards, you can contact the surety company. Homeowners have the option to petition for reimbursement through the 3rd party if a contractor causes any financial harm.
It is a wise decision to only do business with contractors who are insured. Insurance adds an additional layer of protection for homeowners. Workers’ compensation and liability insurance are the two common types of insurance you’ll want to inquire about.
Liability insurance covers instances where contractors cause damage to your home. However, it typically does not pay for replacing or repairing subpar work. That’s where the importance of making sure your contractor is bonded comes into play.
Workers’ comp insurance offers payment to injured employees for medical services and lost wages, irrespective of whose fault it was. Additionally, workers’ compensation coverage provides benefits to a contractor’s loved one in the event of a work-associated death.
At In His Hands Roofing Contractors, we’re proud to be licensed, bonded and insured. This fact is among the many reasons why your neighbors trust our roofing repair and replacement services. Contact In His Hands contractors in Chattanooga, TN today at (423) 637-4265.