Affordability + Comprehensive Coverage
Experienced remodeling professionals to those just starting out need insurance. Effective coverage offers protection against lawsuits and devastating financial hardship due to circumstances you can’t always control, like injured employees and disgruntled clients. Even riskier, your day-to-day work involves other contractors, which further increases the chances of liability issues. Fire a subcontractor for a legitimate reason and retaliation could result in vandalized property or stolen tools. Worse, the project quality could suffer under a subcontractor and your business could be held professionally liable. If your business relies on general contractors, note that Texas allows owners to sue subcontractors directly, meaning adequate insurance coverage is critical.
Finally, most remodelers work at a client’s property, which exposes your service to third-party injury and property damage risks. Your work could affect electrical, plumbing, or other parts of a home. Your project could be falsely blamed for damages and you would still be required to fight in court.
Consider that Texas has a Statute of Repose for 10 years, which means a homeowner can sue for construction defects up to a decade after a project is complete. How many projects will your business complete in 10 years? Each project could be at risk of a civil claim.