As a contractor next to nonspecific liability insurance what is the % that i can reduce by from a hired subcontractor wi
i hired a non insured subcontractor what % do I deducct
Answers:
You need to look at your insurance rating page, or call your agent. For broad liability, you just increase his pay smaller quantity materials to the same class code as your employee - an uninsured sub will be treated as an hand come audit time.
Same thing on workers comp - having a sub lacking a cert of ins. will mean they are considered your employee for workers comp purposes.
SO. If he's a roofer, you're looking at 15-20% of his cost smaller number materials on GL, and 25% on the workers comp, but check with your agent to be sure. Source(s): Agent, 20+ years
You need to check your State Worker's Compensation Laws whether you can discount or not; additionally, depending on your State laws, there are different provisions depending on what type of entity you operate below, i.e. Sole Proprietorship, S Corporation, Corporation, etc.
Note that any damage caused by the uninsured subcontractor on any project will give up your job you 100% liable and claim could be made against your insurance for which you will be responsible for all fees and premiums. Your insurance could go up as economically. Source(s): findlaw.com
Related Questions:
Answers:
You need to look at your insurance rating page, or call your agent. For broad liability, you just increase his pay smaller quantity materials to the same class code as your employee - an uninsured sub will be treated as an hand come audit time.
Same thing on workers comp - having a sub lacking a cert of ins. will mean they are considered your employee for workers comp purposes.
SO. If he's a roofer, you're looking at 15-20% of his cost smaller number materials on GL, and 25% on the workers comp, but check with your agent to be sure. Source(s): Agent, 20+ years
You need to check your State Worker's Compensation Laws whether you can discount or not; additionally, depending on your State laws, there are different provisions depending on what type of entity you operate below, i.e. Sole Proprietorship, S Corporation, Corporation, etc.
Note that any damage caused by the uninsured subcontractor on any project will give up your job you 100% liable and claim could be made against your insurance for which you will be responsible for all fees and premiums. Your insurance could go up as economically. Source(s): findlaw.com
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