Is Your Roofing Company Ready For Spring?
Spring is the peak time for every roofing company. As the weather starts to improve, many homeowners are thinking about roofing installations, repairs, and maintenance. But the question is, how prepared are you to take on those customer orders? You have your employees and suppliers ready to take on projects that come your way, and that’s great. But do you have your insurance coverage sorted out?
Get ready for Spring!
Insurance coverage is a vital point of preparation for your roofing company this spring. In this article we highlight the three things that you need to put in place before tackling your projects. These are:
- General liability insurance
- Workers compensation insurance
- Contractors license
1. General Liability Insurance Coverage
General liability insurance is a core element in a contractor’s insurance requirements. Contractor general liability insurance covers your roofing company against different scenarios. Including bodily harm, property damage, and personal injury.
- Bodily harm is related to injuries sustained by a third- party at the site of work. For example, if a ladder falls on a person and they require medical care, that, along with any legal costs, will be covered by your insurer.
- Property damage is any damage that may occur to the property in the line of work. Say a worker accidentally drops a wrench on a hardwood floor and dents it.You’ll be liable for potentially costly repairs, unless you have the right insurance to cover it.
- Personal injury covers you for any damage in the form of defamation and copyright infringement in advertisements.
2. Workers Compensation Insurance
Workers compensation insurance covers the employees in your roofing company when they are injured while on the job. Roofing exposes a worker to high risks, and accidents may happen. Workers compensation insurance covers the following expenses in case of an accident:
- Medical bills
- Continuing recovery costs connected to an injury.
- Lost wages due to an injury
- Funeral costs and death benefits.
- Any legal cost incurred.
Workers compensation insurance is a legal requirement in some states. In fact, some states have severe penalties with regards to lack of workers compensation insurance.
3. Contractors License
The local government is in charge of licensing roofing companies, and the licensing requirements vary in every state. In areas such as Newark and Texas, contractors are licensed at the city level and not at the state level.
To get a license, you may be required to provide proof of insurance, proof of formal education, or previous work experience. You may also have to take an exam that covers construction laws, knowledge of the field, safety requirements, and more.
Get the best insurance coverage for your needs
Insurance coverage will help protect your business against many risks. Without financial liability on your shoulders, you will be able to serve your customers and focus on the important aspect of running your company.
Licensing will help you build trust with your customers by proving that you have the necessary experience, knowledge, integrity, and professionalism. It will help you build credibility and a strong reputation in your industry.
Are you ready to take your roofing company to the next level? We would love to help you make the most of the available opportunities in your industry. Call our agents at Contractors Liability on 888-676-0923 to get started today.