Why you should care if a contractor is “licensed, bonded & insured”.
It depends on how much you are willing to pay for someone else’s mistake. Even the most experienced and accomplished craftsman is human and, because no one is perfect, a mistake can occur.
It is why you can rest assured that a contractor who is “licensed, bonded & insured” demonstrates his responsibility to protect you by investing in safety tools to cover errors. Sure, your friend’s son who once worked for a plumbing company and does side jobs is handy (and, let’s face it, cheaper), but who really pays the price if a tool slips and an expensive appliance or plumbing system is damaged? While the worst case scenario is not often likely to happen, how many rolls of the dice are you willing to take until it does?
Did you know that the state of Ohio requires licenses only for plumbers, electricians, roofers and heating & cooling contractors?
The licensing procedure requires the contractor to pass a test on trade knowledge as well as code laws. Annual continuing education requirements keeps the contractor current with technologies and safety practices. The contractor pays for the classes, textbooks and test, in addition to the license, which must be renewed each year. You should feel more secure knowing your contractor has satisfied the state’s basic requirements to practice his trade.
Want to feel really secure with a contractor – ask if he’s insured!
While a bond is a temporary insurance policy required for specific larger projects, a contractor who carries liability insurance (generally up to $1 million) does so as a safety measure, hoping never to have to use it.
The biggest reason to choose a licensed, bonded & insured contractor is that he is accountable.
He has demonstrated his competence through licensing, and his reliability by being able to obtain insurance. If anything should go wrong shortly after he leaves the job, you will be able to find him to fix it.
Does he cost more than cousin Al’s nephew? You bet. In the long run, you’ll find his workmanship and your peace of mind are worthwhile.