What would be your top five tips! - Page 3 - Electrician Talk - Professional Electrical Contractors Forum

nolabama · 11-06-2009, 10:25 PM

Quote:

Originally Posted by 480sparky

That may well be illegal. This is why you need a lawyer.

Most of the stuff we are advising is state by state so 480 is doubly right.

480sparky · 11-06-2009, 10:27 PM

Quote:

Originally Posted by RIVETER

As far as I know, if you're all alone, you do not have to have workman's comp. But, you have to be optimistic, if you are as good as you think, you will need others to help. At least check into it and get figures. You will need the figures in order to bid the BIG ONE.Good luck.

You may not be required by your state to have it, but some of your customers may require it. So be prepared to pay for it someday.

RIVETER · 11-06-2009, 10:30 PM

Quote:

Originally Posted by 480sparky

You may not be required by your state to have it, but some of your customers may require it. So be prepared to pay for it someday.

That is true and it reminds me of a time that I had to send a contractor away...I just forgot.

mcclary's electrical · 11-06-2009, 10:31 PM

Quote:

Originally Posted by RIVETER

As far as I know, if you're all alone, you do not have to have workman's comp. But, you have to be optimistic, if you are as good as you think, you will need others to help. At least check into it and get figures. You will need the figures in order to bid the BIG ONE.Good luck.

Most descent GC's are gonna require WC

RIVETER · 11-06-2009, 10:36 PM

Quote:

Originally Posted by mcclary's electrical

Most descent GC's are gonna require WC

You are right. Most of the bigger jobs required a Certificate of INSURANCE. Most insurance companies will send them right out for phone call if they have you on file. Insurance is cheap when you consider the alternative.

Paelectrican · 11-06-2009, 10:47 PM

Cool i will just go ahead and get it anyway. I already picked up liability insurance, just wasn't sure as far as workmen's comp

480sparky · 11-06-2009, 10:50 PM

Quote:

Originally Posted by Paelectrican

Cool i will just go ahead and get it anyway. I already picked up liability insurance, just wasn't sure as far as workmen's comp

I just to a complete package with one agent.... gen. liability, vehicle, WC, all that stuff. You'll get a 'package' deal usually, and if you need to change something (say, up from $1mil to $2mil in order to bid a job), you only need to remember one phone number.

RIVETER · 11-06-2009, 11:02 PM

Quote:

Originally Posted by 480sparky

I just to a complete package with one agent.... gen. liability, vehicle, WC, all that stuff. You'll get a 'package' deal usually, and if you need to change something (say, up from $1mil to $2mil in order to bid a job), you only need to remember one phone number.

Wow, when I was doing the outside work I only had to carry $500,000.00. Man, It was a good thing that I was GOOD. LLO...or something like that.

480sparky · 11-06-2009, 11:06 PM

Quote:

Originally Posted by RIVETER

Wow, when I was doing the outside work I only had to carry $500,000.00. Man, It was a good thing that I was GOOD. LLO...or something like that.

Insurance companies don't give one hoot about how good you are. They only know that you need their products and services and will charge you for it.

You may only be required by your local laws to carry $½mil, but wait until you're asked to bid on something big, like a hospital or mall.

BuzzKill · 11-06-2009, 11:09 PM

Quote:

Originally Posted by 480sparky

Insurance companies don't give one hoot about how good you are. They only know that you need their products and services and will charge you for it.

You may only be required by your local laws to carry $½mil, but wait until you're asked to bid on something big, like a hospital or mall.

...even expensive neighborhoods, in the case of residential work....$1million minimum...you'll have medical, household goods, property replacement...

RIVETER · 11-06-2009, 11:09 PM

Quote:

Originally Posted by 480sparky

Insurance companies don't give one hoot about how good you are. They only know that you need their products and services and will charge you for it.

You may only be required by your local laws to carry $½mil, but wait until you're asked to bid on something big, like a hospital or mall.

I know times have changed...How much insurance do you carry?

480sparky · 11-06-2009, 11:11 PM

Quote:

Originally Posted by BuzzKill

...even expensive neighborhoods, in the case of residential work....$1million minimum...you'll have medical, household goods, property replacement...

Medical for who?

Why do I need to carry insurance on someone else's household goods? Can't they get their own?

And what property will I need to replace? Their house? That's what GL coverage is for.

480sparky · 11-06-2009, 11:12 PM

Quote:

Originally Posted by RIVETER

I know times have changed...How much insurance do you carry?

$2mil.

BuzzKill · 11-06-2009, 11:22 PM

Quote:

Originally Posted by 480sparky

Medical for who?

Why do I need to carry insurance on someone else's household goods? Can't they get their own?

And what property will I need to replace? Their house? That's what GL coverage is for.

the house burns down, people get burned and they get medical bills.
I would think household goos would need to be covered to prevent them from suing my compnay and, if that don't work, me personally.
...and yeah the house will need to be rebuilt, so yeah GL will get that, just saying possibilities. You know how sue happy this country is, f'n trial lawyers.

BuzzKill · 11-06-2009, 11:23 PM

Quote:

Originally Posted by 480sparky

$2mil.

same here.

RIVETER · 11-06-2009, 11:25 PM

Quote:

Originally Posted by 480sparky

$2mil.

It is good that you are protected...it is also good to let the new people on this forum understand the importance of insurance., This may be a NEW topic, but I will let others decide.

480sparky · 11-06-2009, 11:28 PM

Quote:

Originally Posted by BuzzKill

the house burns down, people get burned and they get medical bills.
I would think household goos would need to be covered to prevent them from suing my compnay and, if that don't work, me personally.
...and yeah the house will need to be rebuilt, so yeah GL will get that, just saying possibilities. You know how sue happy this country is, f'n trial lawyers.

Are you serious? You think we as electricians need to cover everyone elses stuff and lives?

C'mon... how many buildings are out there that don't have electricity? You mean to tell me Sparky is responsible for all that are wired up?

So exacltly how much do I need to cover my arse when it comes to what people put in their houses?

Suppose I wire a $1 million house, and the owner is an art collector and puts $50 million worth of Monets, Rembrandts and Botticellis on the walls?

Or they like jewelry, and have $20 million in bling?

What if I wired up Jay Leno's garage?

I can't be liable for what people put in their houses. Including the people in them. They need to take responsibility for themselves, their loved ones and their belongings. If they want to protect their stuff, then it's on their dime.

RIVETER · 11-06-2009, 11:34 PM

Quote:

Originally Posted by 480sparky

Are you serious? You think we as electricians need to cover everyone elses stuff and lives?

C'mon... how many buildings are out there that don't have electricity? You mean to tell me Sparky is responsible for all that are wired up?

So exacltly how much do I need to cover my arse when it comes to what people put in their houses?

Suppose I wire a $1 million house, and the owner is an art collector and puts $50 million worth of Monets, Rembrandts and Botticellis on the walls?

Or they like jewelry, and have $20 million in bling?

What if I wired up Jay Leno's garage?

I can't be liable for what people put in their houses. Including the people in them. They need to take responsibility for themselves, their loved ones and their belongings. If they want to protect their stuff, then it's on their dime.

It is a shame, but the only protection that you have is YOUR own good work and a good insurance plan. I've seen walls burned to a crisp...including ROMEX, and they say "See that burnt wire" it cause it".

BuzzKill · 11-06-2009, 11:37 PM

Quote:

Originally Posted by 480sparky

Are you serious? You think we as electricians need to cover everyone elses stuff and lives?

C'mon... how many buildings are out there that don't have electricity? You mean to tell me Sparky is responsible for all that are wired up?

So exacltly how much do I need to cover my arse when it comes to what people put in their houses?

Suppose I wire a $1 million house, and the owner is an art collector and puts $50 million worth of Monets, Rembrandts and Botticellis on the walls?

Or they like jewelry, and have $20 million in bling?

What if I wired up Jay Leno's garage?

I can't be liable for what people put in their houses. Including the people in them. They need to take responsibility for themselves, their loved ones and their belongings. If they want to protect their stuff, then it's on their dime.

True, but I'm not sure Jay Leno or an art collector is going to call me. You sadi it best, talk to your lawyer/accountant and insurance guy...I tend to agree with you but everybody is sue happy these days. I speak mostly of service work, of course.."he who smelt it, dealt it", right? I touched it last, it must be my fault.

480sparky · 11-06-2009, 11:41 PM

Quote:

Originally Posted by BuzzKill

True, but I'm not sure Jay Leno or an art collector is going to call me. You sadi it best, talk to your lawyer/accountant and insurance guy...I tend to agree with you but everybody is sue happy these days. I speak mostly of service work, of course.."he who smelt it, dealt it", right? I touched it last, it must be my fault.

Yeah, but if you only have $2mil of coverage, what else they gonna do? Sue me personally for the other $98mil? I doubt it. Lawyers have a tendency to know where the deep pockets are, and that's all they're willing to reach in to.

Once they burn through my $2mil, they'll likely start in with the GC, then see if they can chase the tinner, the plumber, the roofer, the landscaper, the paperboy.... whoever they think they can get money out of.