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Discussion Starter · #1 ·
Hi Guys! I need to find out a little info. for my boyfriend if anyone can help me out here. We live in Montana and he just got his Independant Contractors liscense. My questions is what type of insurance and bond does he need to get started? He seems to think he needs a policy for a 1/2 million. This to me seems like alot considering he is just starting out and he has no employees. We so far have been quoted for the 1/2 million policy as being $4,000 per year. Also, if anyone knows of any insurance and bonding places with a little more realistic rates will you let us know. Any help is greatly appreciated to get us going in the right direction here. :Thumbs:
 

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DGR,IABD
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ProWallGuy said:
So,.....you're Larry, and you need info for your ............boyfriend? :confused:
The same person sent me that question in a private message. I was somewhat reluctant for pretty much the same reason.
 

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Larry:

I posted a similar request a couple of months ago. I got nothing but stupid replies. I even had somebody edit one of my responses.

I did get the answer I wanted by simply doing a Google search. You have to kick allot of tires, but the sarcasm and stupidity is at a minimum.

I was able to get a policy directly from Nation Wide Insurance that was half the cost of going through agents that take forever to get you a quote.

I wonder if Pro Wall Guy will edit this post?
 

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A $500,000 policy is the minimum I'd think of having. The coverage limit has nothing to do with the amount of work you do, it's the amount of coverage available to fix any screwups you create.

Say Larry goes in and hangs a set of pulldown attic stairs in a garage (a minor project- maybe $400). The stairs aren't secured well, and they fall out of the ceiling onto the owner's lawnmower, cracking the gas tank. The gas gets ignited by an errant spark, and burns the $700,000 house down. $500k in insurance doesn't cover that loss, so guess who's going to be losing their house, car, and savings?

You'll probably find that the insurance companies won't write policies for much less anyway, and if they do, the premiums will not be proportionately lower (a $250k policy won't be half the price). Are there any requirements for a minimum insurance coverage limit in Montana? NJ just passed legislation requiring contractors to carry $500k minimum in GL.

Bob
 

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Discussion Starter · #7 ·
Thanks for the replies. And for all you wondering, I am Larry's g/f. I registered him on this site but he doesn't use the computer much. That's why I am asking the questions for him.
 

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Yeah I didn't think there was to many Q's in Montana. But now the sheep they run scared. :eek:
 
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