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Importance of Planning Ahead for Certificates of Insurance Requests

An integral component of the construction bidding and performance process is obtaining certificates of insurance (COI). Without a COI, a contractor is unable to begin work on a project. Clients, including residential property owners, commercial real estate owners, municipalities and public entities, and general contractors (GC), all require that contractors show proof of insurance. A …

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The ABCs of Common Insurance Terms for Contractors

Insurance terminology can be daunting and sometimes confusing. We’re here to break down some of the common insurance terms with which contractors should be familiar when reviewing and discussing their policies. Actual Cash Value (ACV) In the event of property damage (to a building or automobile, for example), the policy includes how the insured property …

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What to Know About Following OSHA Safety Requirements in Construction

Every construction contractor is responsible for following the necessary regulations. When it comes to construction, every contractor should be exceedingly familiar with the requirements laid out by the U.S. Department of Labor, Occupational Safety and Health Administration, or OSHA. There is strict training required – and it varies from state to state. So how can …

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Why Join a Construction Trade Association?

With demanding schedules and tight budgets, some contractors see industry associations as a waste of their time and money. However, construction trade associations offer numerous benefits. They not only keep you on top of important industry trends and developments, but also facilitate networking with like-minded professionals. Below are some of benefits of joining a contractor’s …

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What Is a Surety Bond?

A surety bond is a contract between three parties—the principal (you, the contractor), the surety (typically an insurance company) and the obligee (the entity requiring the bond)—in which the surety financially guarantees to an obligee that the principal will act in accordance with the terms established by the bond. In this way, the obligee can …

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How Drones Are Making an Impact on the Construction Industry

Advancements in technology are allowing construction sites to operate more safely and efficiently. It’s the 21st century, and construction is evolving to keep up with the latest technological advancements. Though it may seem like something out of science fiction, drones are the latest trend in the realm of construction. But what benefits do they bring …

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Proper Planning Keeps Construction Projects Moving Forward

A construction project could easily become derailed before ground breaks without the proper planning in place. The potential for project delays, overruns, and unhappy customers exponentially increases if proper planning is overlooked or compromised. Here are some tips to implement before your next construction project. Before creating the plan, meet face to face with your …

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What Kinds of Insurance Coverage Do Contractors Need?

Construction sites are full of risks. From heavy equipment to dangerous machinery operated by employees, there are countless opportunities for people to suffer injuries and for properties to sustain damage. In the event of something going awry, it could be you who will be held liable. Without the proper coverage, this can potentially spell financial …

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