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What your Contractor Must Make Sure You Know

Tuesday, Apr. 19th 2011 6:29 AM

When you enter into a contract, there are certain disclosures that your contractor must provide to you in writing. Disclosures must be provided by

•General contractors
•Residential contractors and
•Swimming Pool and Spa contractors
For residential projects, your contractor may need to provide General
Contractor and Residential Recovery Fund disclosures. The disclosures
are required by law to inform you of your rights as a homeowner.
The disclosures are as follows:

General Contractor Disclosures
NRS 624.600 Required disclosures by general building contractor. A general building contractor shall provide in writing to the owner of a single-family residence with whom he has contracted:

1.The name, license number, business address and telephone number of:
(a) All subcontractors with whom he has contracted on the project; and
(b) All persons who furnish materials of the value of $500 or more to be used in the project.
2.A notice that a person described in subsection 1 may record a notice of lien upon the residence of the owner and any building, structure and improvement thereon pursuant to the provisions of NRS 108.226.
3.An informational form, whose contents must be prescribed by the Board,
regarding:
(a) Contractors pursuant to chapter 624 of NRS; and
(b) Mechanics’ and material-men’s liens pursuant to chapter 108 of NRS.
GENERAL BUILDING CONTRACTORS: REQUIRED DISCLOSURES
NAC 624.693 Informational form regarding mechanics’ and material-men’s liens. (NRS 624.100, 624.600) The informational form that a general building contractor is required to provide regarding mechanics’ and material-men’s liens pursuant to paragraph (b) of subsection 3 of NRS 624.600 to the owner of a singlefamily residence with whom he has contracted must be as follows:

‘NOTICE TO OWNER’

Pursuant to NRS 108.221 to 108.246, inclusive, a contractor, subcontractor, laborer, supplier of materials or other person or entity who:

1.Performs work or furnishes materials of the value of $500.00 or more to improve the value of your property; and
2.Is not paid for the work or materials has a right to place a lien on your property on which the work was performed and to sue you in court to obtain payment.
This means that after a court hearing, your property could be sold by an officer of the court, and the proceeds of the sale would be used to satisfy the amount you owe. If you did not ask for and receive releases of liens from the contractors’ subcontractors, laborers or suppliers of materials, a lien may be placed on your property, or you may be sued even if you have paid your contractor in full.

To preserve their right to file a claim or lien against your property, certain claimants, such as subcontractors, laborers and suppliers of materials, are each required to provide you with a document called a “preliminary or pre-lien notice.” A preliminary or pre-lien notice is not a lien against your property. Its purpose is to notify you regarding persons or entities who may have a right to file a lien or claim against your property, if they are not paid. To perfect their lien rights, contractors, subcontractors, laborers and suppliers of materials must file mechanics’ liens with the county recorder, which then become recorded liens against your property. Generally, the maximum time allowed for filing a mechanics’ lien against your property is 90 days, after substantial completion of your project.

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Handyman Insurance

Insurance might not be the first thing someone thinks about when running a business, but it should be an important consideration.   Handyman insurance is another requirement if you are thinking about starting a handyman business.  This website provides important insurance information on Handyman Insurance Coverage and quotes.

Handyman Insurance Coverage

Handyman insurance includes several types of coverage; each one offers a specific kind of protection for your business.  

(Handyman Insurance ) Commercial Auto: Covers a business's owned, no owned, and hired autos against liability and physical damage losses. 

Handyman Workers Compensation:  If your business as a Handyman employs any staff (including part-time, trainees or sub-contractors), Employers liability insurance cover is a legal requirement.  Employers liability insurance provides protection against your legal liabilities to pay compensation in respect of injury sustained by your employees in the course of your business as a Handyman.  (Handyman Insurance) Workers Compensation: Provides coverage for an employer's responsibility in the event of a work-related injury or illness.   Employers Liability Insurance for handyman work: This type of insurance would cover payment of legal fees and damages in the event that an employee was injured or killed while doing work for you. 

Tradesman Insurance for handymen: This is a package of several different kinds of cover for handymen, making up one policy that meets all your insurance needs.

Public Liability Insurance for handyman work: This type of insurance would cover you if your business activities caused injury or death to a member of the public.

Handyman General Liability - Commercial jobs will require you to have general liability coverage of $1,000,000 to $2,000,000 prior to being hired (not to mention that you protect your assets if something goes wrong on the job).

Products liability insurance for Handymen - Products liability insurance provides protection against your legal liability, compensation costs and expenses following injury or damage by goods that you have sold, supplied, repaired, tested or delivered in connection with your business as a Handyman.  Products Liability insurance for Handymen at 1,000,000 with the option to increase to 2,000,000 up to 5,000,000 or more.  Public Liability insurance cover provides protection against your legal liability for injury to third parties and damage to their property in connection with your business as a Handyman.

Professional Indemnity Insurance for handyman work: This covers you against any mistakes you might make  including bad advice you or your staff might give  that ends up costing your clients money, and leading them to take legal action against you.

(Handyman Insurance ) Umbrella Coverage: A broader form of coverage that extends the limits of liability found in a base policy form. 

Income Protection Insurance - If the essential person should be unable to work for a period of time, this handyman insurance helps to cover the loss of business as a result of the illness or injury.  Having sufficient income protection insurance is also a worth while consideration, if you were to fall off a step ladder or hurt your back and couldnt work, accident, sickness and unemployment insurance could help you to pay for some of your monthly bills in the event of you not being able to work.

The Handyman Insurance Program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen who: Are hired to do a variety of miscellaneous work that would be found in a residential household environment;

Please note that standard home owner's insurance will most likely not cover business assets, and may VOID your home insurance coverage.  If your business is home-based, do you need more liability coverage than your home insurance policy covers. 

The Handyman program gives our policyholder comprehensive coverage for their handyman businesses, and the program is designed for Handymen.

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