A beautiful backyard deck or patio expands your living space in ways you will absolutely love. But it takes some good insight to understand just who to hire for the job. For this reason, HFS Financial has compiled this helpful information about Licensed, Insured & Bonded — the Scary Pitfalls of Hiring an Unqualified Deck and Patio Contractor.
Home improvement financing is our area of expertise, whether the projects are outdoor or indoor. We have been assisting customers with their quest for the right loan options for almost 60 years. Let us share why smart hiring is crucial when it comes to choosing the right contractor to create your deck or patio.
Liability #1: Lack of License or Bonding is One of the Pitfalls of Hiring an Unqualified Deck and Patio Contractor
First, let’s look at what hiring an unlicensed contractor can mean for you as the homeowner. Each state’s requirements for a contractor license are slightly different. But a license is definitely a necessity. An unlicensed deck contractor has no state authority to create decks. This means the contractor is essentially your employee. Therefore, as the homeowner, you become liable for any damages or injuries that occur to the unlicensed contractor or anyone working for him on your property.
A contractor bond is often a requirement for state licensing. It is also reassuring for customers seeking to hire a contractor to see a bond included. This document says that the contractor has a bond with an outside company that says they are securing the project. In other words, if a contractor fails to complete a job or to comply with a contract, the bond comes into play to ensure that the financial burdens this causes are not your responsibility.
Liability #2: Inadequate Insurance Coverage
Next, consider what inadequate insurance coverage on the part of a contractor means for you as well. When a contractor fails to produce proof of insurance, you are liable for any and all things taking place on your land. There are various types of insurance for contractors to invest in for the sake of their company and their customers. A trustworthy contractor will have insurance for all kinds of might-be scenarios. And these are the things you want to look for before hiring.
For instance, a patio contractor should carry a worker’s compensation insurance policy. This type of coverage will take care of their employees who get injured and are unable to work for any amount of time. They should also have some type of general liability coverage. This will cover any inadvertent damage to someone else’s property during the course of your construction project.
Another thing to examine on a liability policy is if products and completed operations are covered. This means that if the patio has contractor-caused issues after completion, the contractor will still cover the damages. A patio that appears to be sturdy but collapses a few months after its finalization will be their responsibility. This includes any injuries that are incurred or a replacement patio.
Don’t Suffer from the Pitfalls of Hiring an Unqualified Deck and Patio Contractor
Now you have a brief summary of Licensed, Insured & Bonded — the Scary Pitfalls of Hiring an Unqualified Deck and Patio Contractor. Knowing what to expect from the contractor before hiring is crucial. And if your contractor offers contractor financing through HFS Financial, that’s an extra perk from working with a contractor that is a great find. Remember that HFS Financial is prepared to help you locate the deck financing or patio financing that you need. Anyone can apply for home improvement financing in just 60 seconds. Our staff is also waiting by the phones at 1-800-254-9560 to help you begin. “You Dream It, We Finance It!”