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Additional Insured Endorsements & How They Work in Construction

Levelset

An insurance policy rarely meets every contractor’s needs out of the box. One of the most common endorsements you’ll likely encounter involves additional insured (AI) parties. While it may sound unusual, adding additional insureds is common and extends benefits both to you as a policyholder – and the party being named on the policy.

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Insurance for HVAC Contractors: What It Covers and Why You Need It

Levelset

HVAC contractor insurance is the primary way to help protect your financial interest if things go wrong on the job. This contractor’s insurance solution is typically the most cost-effective means to secure coverage and give you peace of mind. What is HVAC contractor insurance? Who needs HVAC insurance?

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How To Select A Contractor For A Project

Construction Marketing

Ask For Referrals And References. A good contractor should be able to provide you with a list of references of their previous customers. These meetings provide a perfect opportunity to verify their license and insurance. Always ask for proof of insurance. A budget and schedule compliance is a must. Conclusion.

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What Is an Installation Floater?

Levelset

” You may already have an insurance policy that offers coverage for business property and general liability. An installation floater is a form of insurance coverage that protects the value of building materials that will become a permanent part of a commercial or residential structure. Who needs installation floater insurance?

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8 essential steps for effective project cost estimation and budgeting

Fieldwire

CONSTRUCTION SCHEDULING SOFTWARE Easy construction project scheduling with Fieldwire Learn more → 2. Calculate labor costs Labor costs include worker wages, taxes, insurance premiums, retirement contributions, vacation and sick leaves, and union dues. Biting off more than you can chew can put you in a bad light. before taxes.

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A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

Some refer to these risks as "known-unknowns" because the estimator is aware of them, and based on past experience, can even estimate their probable costs. The estimated costs of the known-unknowns is referred to by cost estimators as cost contingency. RSMeans refers to this as, "Price the quantities."

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How to Successfully Plan the Risks Going Into a Construction Project

Fieldwire

On the other hand, active acceptance of risks refers to the opposite. These are the ones that can be considered as being acceptable, but strategies have to be written down, with time or monetary contingencies, such as a general contractor insurance policy , set aside to deal with the risks when they occur. Schedule Demo.

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