Know the Risks When Hiring Contractors
Home renovations includes risks to the homeowner, the contractor, the worksite construction workers, visitors and neighbours. That’s a lot of accountability! Construction worksites can be hazardous, and despite everyone’s best efforts, accidents can happen. A construction worker could get injured or the contractor could accidentally damage your neighbour’s property; mitigating your risk is vital. How can you do that?
In the non-regulated industry of construction it is imperative to hire bonded, licensed and insured contractors.
In our experience, speaking with homeowners, who only thought the contractor was insured, they tell us “we felt embarrassed to ask for proof of credentials. The contractor seemed to be offended we asked, and the relationship went sour afterwards” You shouldn’t have to feel this way because the RISK is yours! eRenovate.com is the solution!
Licensed Contractors
Hiring an unlicensed contractor is a financial risk, as there’s a higher likelihood the work will not meet local building code requirements, and if this happens, you will be responsible for ensuring the repairs are redone properly and that work is up to code. You also run the risk of having your homeowner’s insurance policy voided if a claim arises as a result of the work done by an unlicensed contractor.
Hiring a licensed contractor limits your risk. Licensing offers verification that the contractor has met certain industry training standards. Therefore, there’s a higher probability their work will meet local building code requirements. Also, licensed contractors are more likely to carry insurance and workers’ compensation coverage.
Check with your provincial, state and local municipal offices to verify whether licenses are required for the specific type of home professional you are hiring. If licensing is required, ask the contractor for a copy of their license and check it is valid.
