By Dina Petrakis
Check the NARI (National Association for the Remodeling Industry) website for qualified contractors! NARI is a not for profit trade association for the remodeling industry. NARI members are checked for ethics, good credit and Liability and Workman’s Compensation insurance- for your protection. A contractor who doesn’t pay the bills or carry proper insurance can cost you a LOT of money in the long run.
The benefits of a contractor with ethics and good credit should be obvious. Particularly in times of turmoil in the real estate and construction industry, it is vital to work with contractors who aren’t going to run short on your job.
Your contractor buys materials for your job and if those materials aren’t paid for, the vendors are coming after you. They will file a lien on your property and you will pay- which means you would pay twice.
Insured contractors cost more- what does the added cost buy you? An insured contractor protects himself and clients against accidents. If you hire an uninsured contractor , you become the insurance company for the contractor. You bear the burden for any damage resulting from his work.
If a bad seal on a toilet causes ceiling and wall damage and the contractor won’t pay for it, you will have to claim it on your homeowner’s policy, which could lead to increased premiums and even cancellation of your policy. If you are in a high-rise condo, this could be an immensely expensive oops.
If a worker falls off your roof and the contractor has no worker’s comp insurance, you will be found liable if it is found that the worker was in your care, custody, and control. If the resulting injury is higher than your homeowner’s liability limits, your personal assets may be in jeopardy.
Always ask to be named as a certificate holder on the insurance policy of anyone working in your home.