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November 29, 2005
GC's Liabilty Insurance
For a brownstone renovation, how much do contractors typically charge for maintaining liability insurance to cover your project? Does 10% of the overall construction cost sound high?
Comments
Your building reminds me of the renovation I did to mine, a 3 family apt building(1920's) in Orange COunty New york. I'm really going to enjoy reading your forum, because I've been there. 6 yrs later, a lot of blood sweat and many tears, I made a nice profit.As for the radiators, you are never supposed to paint them(prevents heat from ), but I did, in a nice brass color.
Posted by: Caren at November 29, 2005 1:27 PM
He MUST have liability insurance to do any kind of job that cost you more than $200.
And be licensed by the "DCA" department of consumers affairs,this gives you an extra bond of $25000.
Posted by: Anonymous at December 2, 2005 7:21 PM
I am a painting contractor who does work in many large condos in the city. Most management companies are asking that I have 3 million combined coverage just to do painting/ minor sheetrock and plaster work. THEY ARE EXTREMELY AFRAID OF BEING SUED. I spread the cost out over the year to all my clients so no single person pays more. My cost is about $1900.00 a year. The above poster is talking about a fund that all licenced home inprovement contractors pay into to cover the shoddy work of unlicenced contractors who rip people off.
Posted by: Anonymous at December 5, 2005 12:05 AM
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