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Worried

May 2nd, 2006 at 03:11 pm

My husband is a builder and he is licensed in North Carolina, but there is no licensing in Georgia until now.
He has until June to get grandfather in. I have been putting it off because he has to carry $350,000 worth of liability insurance, which I am told will cost thousands of dollars every year, plus the insurance company will look at the "books" every year and charge us for everyone that does anything on the job.
This really has me worried. We have built houses for 22 years with no law suits from anyone working for us. There have been a few accidents, but everyone takes responsibity for their accidents.
You do not have to carry this license in North Carolina.
I think the price of houses will really go up in Georgia because of this.

Posted in spending | 2 Comments »

2 Responses to “Worried”

  1. LittleGopher Says:
    May 2nd, 2006 at 06:33 pm 1146594826
    1146594826

    My best friend's husband is a builder. They, too, find that the insurance they need for licensing is horrendous - liability, worker's comp, etc. My friend tells me numbers, and I can't even fathom how they can stay in business paying out like they do. Well, except that housing prices are incredibly high around the metro area of Minneapolis/St. Paul...but, still!

    Hope it all goes well for you!!

  2. Ima Saver Says:
    May 2nd, 2006 at 07:43 pm 1146599032
    1146599032

    That is what I am afraid of, my husband does most of his own work and has no employees. I think it is a really good deal for all the insurance companies.

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