Contracting businesses often either thrive or die on the quotes that they give potential customers. For, it’s on these bids that people decide which contracting business to hire. Most of the time, quotes include information about the nature, cost, and timeframe of a project -- but this may not be all that a contracting business may want to include in its bids. If you run a contracting business in Massachusetts, here’s how also including proof of your company’s contractors insurance could help set your business apart from competitors.
Set Your Contracting Business Apart by Including Proof of Contractors Insurance with the Quotes You Give
Showing a Level of Professionalism and Responsibility
Including proof of contractors insurance in all of the quotes that your company provides evidences a certain level of professionalism and responsibility.
Some of the potential customers you talk with may want to see proof of insurance. By anticipating their concern, you’ll show that you know what your customers want. Even those who don’t know to ask (or don’t care) will at least be impressed that you have everything together and in order.
Educating Potential Customers About Insurance
Should you meet a potential customer who doesn’t know to ask contractors for proof of contractors liability insurance before hiring them, you’ll have an opportunity to educate the potential customer.
Sharing with unknowing potential customers why contractors liability insurance is important helps them understand the contracting business a little better, which they’ll benefit from in the future. It also gives you an opportunity to demonstrate your expertise. Any additional information you provide, even if it’s not directly related to building or remodeling, helps establish you as an expert.
Preventing Uninsured Contractors in Massachusetts from Underbidding
As you educate potential customers, you’ll also decrease the likelihood of a Massachusetts contractor who isn’t properly insured from underbidding your company.
Contractors liability insurance isn’t free, and its cost must be built into your bids. Uninsured contractors don’t have this additional expense and, therefore might be able to offer lower quotes than you can afford to.
If you educate everyone you give a bid to, though, they’ll likely think twice before hiring someone who’s uninsured -- even if that person provides a lower cost. You may still lose some projects to uninsured contractors, but those customers will at least know the risks they assume in hiring an uninsured operation.
Providing Proof of Your Business’ Contractors Insurance
Importantly, all of these benefits are easy to attain. You just need to include your business’ certificate of insurance or a copy of its contractors liability insurance policy with each of the quotes you provide. This is as simple as carrying copies of one of these documents in your truck and handing a copy to each customer when you submit the written bid (or when you first meet them, if you prefer).
Talk with Your Independent insurance Agent
If you don’t have a copy of your business contractors insurance certificate or policy, contact your independent insurance agent. They’ll be able to provide you with a copy of either or both documents, which you can copy as needed and keep with you. Alternatively, if your business is uninsured, get in touch with an agent serving Massachusetts in order to obtain coverage and then get a copy of the document you need.