I am interested in getting my contractor license in Louisiana. Growing up, my father always flipped and often built homes with a contractor friend of his and sold those homes as he is a real estate broker. I’m a realtor now too, as well as a full time commercial historical project manager downtown. I hope to supplement my own income by building a few homes a year for profit. That said, I don’t want to drown in GL and WC insurance prices, will those be required even though I will have no employees, I will just be contracting local subs?
I would say the insurance requirements for each project will depend on your contract with your subcontractors. If you have a solid contract you should be able to avoid W/C liability and should be able to indemnify yourself to some degree. A GL policy is probably something you should carrier just in case of some sort of site deficiency that could expose you to liability. Give us a call if you would like to discuss how the contracts should be structured. 504-323-5885.