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Insurance: What do Contractors Need to Know?
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Ever wondered how a lack of insurance could spell disaster for your contracting business? Buckle up as we bring you an insider's account unraveling the complexities of contractor insurance and why skimping on it isn't an option. This episode isn't just cautionary tales—though we've got those too—but a treasure trove of personal experiences and hard-earned wisdom that will guide you to secure your business's future. From the pitfalls of underinsurance to the nuances of general liability and workers' compensation, we dissect the insurance landscape to ensure you're prepared for whatever comes your way. Whether you're flying solo or managing a team, our discussion underscores the importance of having all the right shields up before you step onto the job site.
Navigating the onboarding jungle with new vendors can be a high-wire act, balancing stringent insurance demands with the flexibility needed to foster growth. In this candid conversation, we share strategies for giving promising contractors the opportunity to prove their mettle—insurance in hand or not. Delving into the details, we discuss the perks of providing a "short runway" for newcomers and how exceptions for smaller trades can benefit your business. Join us as we also cover the symbiotic relationship between contractors and vendors: setting clear insurance expectations from the get-go, helping them thrive for mutual gain, and cultivating loyalty that translates into efficiency on the job. Tune in to gain invaluable insights that will empower you to craft a supportive, collaborative, and protected work environment.
Transform your contracting business with our Business Bootcamp for Contractors! This 12-week program offers you the essential skills and hands-on training with ProStruct360 software to streamline your operations and drive success.
Visit this link to sign up today to secure your spot! Business Bootcamp for Contractors
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1. Insurance: What do Contractors Need to Know? (00:00:00)
2. Contractor Insurance (00:00:01)
3. Vendor Insurance Requirements and Onboarding (00:10:59)
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