Do I really need licensed and insured contractors?

Did you know that in Oklahoma electrical contractors such as McNatt Electric are required by law to have at least $1,000,000.00 of insured protection, be bonded with the state for at least $5,000.00, and carry worker's compensation. I promise you this is something that is very important for anyone looking a hire a contractor!

But why? Lets talk about general liability and worker's compensation first. General liability is to protect your property. Lets say a contractor drilled into a wall hit and a water line, now your home is flooded. What do you do? Well if you hired a friend or a handyman can they foot the thousands to replace your floors, drywall, electrical lines, not to mention fixing the water line? You should hope so but most likely not. Then what you may find out is that most insurance companies do not cover damage from in-home employees AKA the guy you hired, and payed cash for! Now lets say the contractor you hired that flooded your home was insured. Then you have nothing to worry about, because you hired a responsible contractor it will all be handled quickly and efficiently at no additional cost or headache to you!

Worker's compensation is also very important. Lets say a roofer slipped and fell. So right now YOU have a man in YOUR yard that YOU hired that YOU know isn't the most reputable company. Are they insured? Again, you should hope so. When a worker is hurt on your property and the company or individual doesn't have worker's compensation the properties owner is liable for that individual. Because they are acting as a general contractor and as such YOU (the general contractor) are required to cover anything lacking insurance wise that the company you hired does't have! Always hire licensed contractors, they are required by law to have general liability and worker's compensation.

But what is bonding? A bond with the state simply means that if something happens and a contractor could not finish for whatever reason, the bond would cover that issue. Or maybe an employee stole something from your home.... a bond would reimburse you for the losses incurred.

When you hire a licensed contractor you are paying for peace of mind and protection! Even though it may be tempting to hire someone for a little less fight that temptation! After all, if they are not running a legal business, should you expect them to be responsible and capable workers? Of course not, and that one simple fact will greatly increase the potential for problems that can occur on a project when you hire "handymen". Always hire an insured, and bonded contractor!