Certificates of Insurance and what you need from your vendors

General Liability and Workers Compensation Insurance Certificates

Take the necessary steps to keep your Associations financial future safe.  Please be sure to maintain updated certificates of any hired Contractors General Liability and Workers Compensation insurance.  If the Independent Contractor does not purchase Workers Compensation or General Liability insurance, a charge may be made under your policy.

Before hiring a contractor, be sure to ask for proof of insurance.  You should attempt to weeds out less responsible contractors who may put their workers and customers at risk by not meeting minimum standards of coverage for injuries and risks that could cost you money in a lawsuit resulting from a general liability claim or a worker’s injury.

Ask the contractor to provide you with a Certificate of Insurance for:

  • General Liability insurance – recommended limit of $1,000,000
  • Insuring clause naming the Association as additional insured – be sure this is included on the certificate
  • Workers Compensation Insurance

Feel free to send us a copy of the certificate to review.  Send to cpi@insurance-financial.net    We will advise you of any corrections or changes that need to be made.

You may also want to inquire about:

  • Verification of any required contractors license
  • Verification of contractors fidelity bond for protection against theft of items

You can contact our office to review the certificates and even help the Independent Contractor obtain their own insurance.  http://www.insurance-financial.net/business-insurance/