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Don’t Let Uninsured Side Jobs Cost You Everything

Are you a contractor who does side jobs?

Are your side jobs insured as a contractor?We know a lot of contractors who work for a company, but make extra money doing side jobs.  We know this is a common thing to do in the contractor trade.

But did you know that you could be risking everything if one of those side jobs goes bad?

We know side jobs happen all of the time.  We also know that the income from the side work can be pretty substantial.  There are contractors that we know who make as much money on the side as they do in their full time career.   The side work money is counted on in order to support their family.

All kind of contractors do side work, including:

But is your contractors side work insured?  

Most contractors do not even think about getting contractors insurance for their side work.  That is a mistake that can cost them everything they have worked so hard to earn.

For example: Say you are electrician who is working for a larger company or for a government entity.  You decide to start doing smaller jobs on the side to make some extra money.  A friend asks you do do some electrical work on their home.  You agree to a price for $1,000.  they agree because it would cost them $1,500 if they went through the electrical contracting company.

You do everything to your ability and finish the job.  A week later, something goes wrong with the work and causes your friends home to catch fire. The fire results in $25,000 in damages to their home.

This issue can even happen if you decide to do the work for free as a “favor”.  Once family members know what you do for a living, they will undoubtedly ask for the favor to fix something in their home.  So can you imagine a favor costing you your life savings?

Where do you think they will look to get paid for the damages? 

That’s right, they will be coming after you to pay for the damages that resulted from your work.  When it comes to money. sometimes friendship takes a second seat.  So even though it may have been a favor to do the side job, your friend will want their house repaired and they will expect you to pay for it.

How will you pay for this?

Since the work was done on the side, your company’s electrician’s insurance policy will not cover the claim.  So you will be responsible for the damages.

Will you have enough money in the bank to pay for the $25,000 in damages?
Will they file a lawsuit and force you to sell assets have your wages garnished?

How could you have protected yourself from for your side jobs?

You can buy contractors insurance for your side jobs.  For about $600 per year (maybe more for higher risk contractors such as roofers), you could get up to $1,000,000 in liability insurance fr your side work.  And for a a little more, you can get your tools and equipment insured as well.  And you may even be able to buy contractor’s E&O insurance that can c

For the cost of about one side job per year, you can have liability insurance for your side job work.  And for a little more, you can insure your tools and even add contractors professional liability coverage.

Contact Huff Insurance Today

Huff Insurance is a Trusted Choice™ independent insurance agency located in Pasadena, Maryland.  We can license to write insurance in Maryland, Pennsylvania, West Virginia, Delaware, Virginia and Washington DC.

 

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