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Author Question: Describe the protections that exist for homeowners when their general contractors fail to pay the ... (Read 118 times)

Brittanyd9008

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on: Jun 24, 2018
Describe the protections that exist for homeowners when their general contractors fail to pay the subcontractors and suppliers who work on their homes.

Question 2

If an insurer denies liability for a loss, the insured has the burden of proving that there was a loss that came within the coverage of the policy.
  Indicate whether the statement is true or false


Anton

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Reply #1 on: Jun 24, 2018
Answer to Question 1

Most states provide some sort of statutory limit for what homeowners are liable for. For example, if the homeowner has paid a certain percentage of the contract price to the general, the remaining funds due are then allocated to unpaid contractors. Some states provide homeowners with credits for what it costs them to complete the project if the general abandons the job.

Answer to Question 2

TRUE


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