General Liability Insurance:
For most trades, we require that you carry a minimum liability policy of $1,000,000 with a $2,000,000 aggregate. This is considered standard-level insurance for contractors and is not expensive.
After you are accepted as a LoopedHome contractor, we require to be named “additionally insured” and to be a “certificate holder” on your existing general liability policy.
This is the only cost associated with doing business with LoopedHome, and should start around $25 extra a month on your existing general liability insurance policy. The business you do with LoopedHome should far offset this minor added expense.
Workers Compensation Insurance:
We, and the state of Oklahoma, require license holding contractors to have their own Worker’s Compensation Insurance. We require you to be a “Certificate Holder” on your Worker’s Compensation Insurance.
If you are EXEMPT from Workers Compensation Insurance, we require a copy of your Worker’s Compensation Exemption Card.
After you get accepted as a LoopedHome subcontractor, Workers Compensation Insurance EXEMPT contractors agree to notify LoopedHome of any other person brought to our job site, and provide us with their contact information and proof of their Worker’s Compensation Insurance coverage or their own Workers Compensation Exemption Card.