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Licensed, bonded & insured -what does that mean?

By
Home Builder with Quality Roof Systems

They tell you that they are licensed, bonded, and insured - what does that mean?  Now much as far as providing legal protection for a homeowner. In Mn, contractors must be licensed by the State of MN, not just a local entity to work on a private residence.  Check out your state's requirements.

Bonded-is that a bail bond or what? Most local bonds have a limit of $5000.00 and are you the homeowner listed as the beneficiary of the policy?

  Do they have work comp, do they have employees and are they paid by cash under the table?  Certificates of insurance need to be sent to the homeowner by the issuing  company and not handed over by the contractor.

You, the homeowner need to do some research before allowing anyone to work on your property.  If not and they damage something or worse yet, get hurt while working on your home - who is responsible to pay? You are!!

 

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