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Rising Construction Costs Lead to Higher Risks

Construction Business Owner

These cost escalations can directly correlate to higher insurance premiums, reduced risk appetite from insurance carriers, and a lack of policy extensions for project policies. However, in the face of rising costs and shifting risk landscapes, these insurance options are becoming increasingly complex to navigate.

Risk 354
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How to Get Large Group Health Insurance Plans for Contractor Business Employees

Construction Marketing

If you, as an employer, have 1099 employees on your staff from time to time, you may be wondering whether you are required to provide health insurance to them. This also means that employers don’t have to withhold income taxes, pay unemployment taxes, or withhold and pay Medicare and Social Security taxes. What is a 1099 Employee?

Insurance 156
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Project Protection 101: Exclusive Insights for Cost Challenges

Construction Business Owner

What many might not know, is that these cost escalations can correlate directly to higher insurance premiums and reduce risk appetite from insurance carriers making it harder to get coverage.

Insurance 156
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What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.

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Insurance for Electricians: What It Covers & Why You May Need It

Levelset

Scenarios like these stress the need for an electrician to have insurance coverage in place. Thus, a strong insurance plan helps you rest easier both on and off the job. Why can an electrical contractor use insurance? Insurance policies can help your business cover the costs of both minor and major incidents.

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Objective, reliable, and veriable Construction Cost Estimates

Job Order Contracting

5 Understand Your Products, Material, and Labor Costs/Pricing Factors that impact local market costs: Availability and demand for a product. Normal hour work productivity and cost can vary from non-normal work hours. #6 Each construction task should be unique and identifed by using a standard data architecture (i.e.

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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.