Posted by John Sadler, October 4, 2011
According to?a panel of experts of Independent Insurance Agents?& Brokers Association, the answer is that it depends on a number of factors.
Some states exempt homeowners building their own home from the requirement to carry Workers Compensation by statute, case law, or regulatory ruling. You may want to visit www.workerscompensation.com for a summary of such laws.
If your state does have an exemption, you may be able to rely on your Homeowners Liability to some extent. If Workers Compensation is not in play, the remedy for the injured worker is a direct lawsuits against the homeowner under negligence theory. Most Homeowners Liability forms will respond to?negligence lawsuits?from injured workers if there is no Work Comp in force or ?if not required by law to be provided?. However, many carry minimum limits such as $100,000 which certainly won?t be enough for serious injuries such as falls off of roof. At a minimum, $300,000 should be carried and a $1,000,000 Personal Umbrella policy should be carried in addition.
It is certainly safer to carry Workers? Compensation. However, the premiums can be very expensive unless a certificate of insurance evidencing Workers? Compensation is collected from all subs. Or better yet, just hire a qualified General Contractor to build the home and carry the Workers? Compensation.
This?blog does not address the equally serious issue of whether General Liability insurance should be carried by the homeowner building his/her own home. This topic has been addressed in other blog postings.
Source: Building Your Own Home?Insurance Implications, Independent Insurance Agents & Brokers Association
View Original Post Here: Contractor Insurance And Risk Management Blog
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