Guide to Insurance for Roofers including Workers Comp and General Liability
In an industry of risks and countless options (not to mention single-plan insurance costs of up to $200/month) – could a simple guide to insurance for roofers make it easier? Googling for general recommendations might help, but only to an extent. So, how can you be sure you’re getting the best coverage for your own roofing business?
1. Workers Compensation Insurance
One of two primary types of coverage, Workers Compensation insurance should be an absolute priority for roofing contractors.
Essentially, Workers Compensation insurance is coverage for the people working on the property during operation. It will usually cover owners’, officers’ or workers’ injuries or sickness that occur due to their work duties.
Be careful with Workers Comp – it is mandatory, but regulated state-by-state. If you move or operate in several states, it pays to read up on the differing regulations.
Many states legislate on WCI in accordance with the National Council on Compensation Insurance. This may sound like an official regulatory body, but it is not. It’s just an organization that several states choose to follow. For instance, Arizona is an NCCI state but neighboring California isn’t. Be aware if you plan on crossing state lines.
2. General Liability Insurance
No guide to Insurance for Roofers would be complete without mentioning General Liability Insurance. As a roofing contractor, this should top your list.
General Liability Insurance covers third party damage to property or people due to your work or products. If any post-job slips or breakages occur (through simple oversight or plain bad luck), general liability insurance can help pay for medical bills, premises damage and legal defense.
This industry is extremely hazardous, and mistakes happen – that’s what Roofing Contractor Insurance is for. It prevents an inevitable small error from snowballing into a major financial and legal problem for your business.
Again, the location and size of your business will affect the type of insurance you need. Doing your research is key to saving money.
3. Other options for Roofing Contractors
Beyond General Liability and Workers Compensation, there are numerous other policy additions you might want to consider.
Often attached to General Liability Insurance, a tools and equipment floater safeguards your apparatus. Similarly, commercial vehicle insurance might be useful if your workers drive long distances or use vehicles in potentially dangerous scenarios.
It all depends on the kind of work your company does. Vigilance could save you a huge headache.
What is Roofing Contractor Insurance? Keep yourself informed
The need for a guide to Insurance for Roofers is simple. It is an industry of many hazards; literal and legal. It’s really tough to choose the most effective way to protect your particular business. Your best policy combination depends on specific factors like where you are, what your company does and how much exposure it has.
Complex insurance assessment can mean it’s a real struggle to find fairly priced coverage for your roofing business. We can help you get the best information and the best deal. Call Contractors Liability on 888-676-0923 to find out more.