Just like many other businesses, roofing business has its inherent risks. Every prudent roofer, therefore, tries to ensure they are protected against these risks by buying insurance.
But then, it could also be a challenging affair trying to get roofing contractor insurance for your small business. Many small business owners fear that roofer’s insurance could wipe off their meager profit. If you are one of these, you will be interested in how to find affordable roofing contractor insurance.
Types of Roofing Contractor Insurance
It makes sense to talk about two of the types of insurance available for roofing contractors before going any further. They are the following:
1. General liability insurance
This coverage helps to protect roofing businesses against claims arising from projects. It safeguards your small business against bodily injury, personal injury and property damage claims, amongst others.
2. Workers compensation insurance
You are protected by this policy against costs associated with work-related injuries sustained by your employees. Workers compensation coverage also pays for lost wages due to these injuries. It is required by law in most states.
Finding Affordable Roofing Contractor Insurance
Know what you want – The first step to take when finding affordable roofing contractor insurance for your small business is to determine your needs. As stated earlier, there are different types of insurance designed for small roofing businesses. For example, you will have to decide if your business requires both liability insurance and workers compensation. The answer to this lies in whether you have employees working for you.
Research – The next thing is to search for insurance companies offering your desired insurance, perhaps, in your area. You may be surprised that a search on Google could bring up websites of numerous insurance companies, including those advertising their service via the search engine. You then proceed to make a list of insurance companies that meet your requirements from those returned in the search results.
Request for Quotes – Once you have a list of insurance agents or companies you are interested in dealing with, you can now go ahead to submit requests for quotes and sit back waiting for response. You will usually not have to wait long for response in most cases. In a matter of few hours or even minutes, you will start getting responses for your inquiries. For you to get the affordable plan you desire, you will need to share some details about your business and the type of coverage desired.