Roofing Insurance for Hialeah Contractors
Choose the Best Roofing Insurance Today!
At Contractors Liability, we offer tailored policies for your roofing business, and you can include Commercial Auto, General Liability, Inland Marine, Worker’s Compensation, and much more.
Insurance is important for any business owner, but it’s especially important for those in the roofing business. If you complete a roofing project without having insurance, you will be liable and fiscally responsible for any unforeseen issues.
There are a few different types of insurance that roofers in Hialeah often hold:
- General liability insurance
- Workers’ compensation insurance
- Commercial auto insurance
- Inland marine coverage
In Florida, all roofing contractors are required to hold these insurance policies. If your business fails to comply with these regulations, you might end up losing your roofing license. But that’s not the only reason you should carry insurance. It’s crucial to keep both your company and wallet safe from issues like theft, injury, legal disputes, and equipment damage.
General Liability Insurance for Roofing Contractors in Hialeah, Florida
General liability insurance is the most basic type of contractor’s insurance, and it’s crucial for roofing companies throughout Florida and Miami-Dade County– including those in Hialeah.
In the world of roofing, you can think of general liability insurance as the first line of defense that can help protect your business from legal claims related to personal injury, property damage, or other disputes. And holding general liability insurance is not just a smart business choice – it is legally required in the state of Florida.
General liability insurance covers most claims you could see that are related to work you are in the midst of or have completed on a prior date. That includes accidents that happen to clients or a third party on one of your worksites. You are always working to prevent incidents, but unfortunately, they do happen. When they occur, it’s important to protect yourself from unexpected costs.
General liability coverage will usually set you back $2,800 to $3,000 each year in Hialeah. But considering that attorney fees start around $20,000 (and can go much higher), that’s a reasonable investment that’s definitely worth the cost in case a dispute does occur.
Workers’ Compensation Insurance for Roofing Contractors in Hialeah, Florida
Workers’ compensation insurance aims to keep employees financially safe should they get injured on the job (which could lead to steep medical bills or sacrificed wages). We all know that the roofing industry can be dangerous and demanding, so it’s crucial to make sure you have proper workers’ compensation coverage in the event of an incident.
That’s why this type of insurance is especially crucial for roofing companies. Throughout Florida, workers’ compensation insurance is a requirement for businesses with more than one employee – but it’s also just good business sense.
You’d never want to end up personally liable for claims filed by an employee. But that’s not the only upside you’ll see. Holding a strong worker’s comp policy makes your business stand out, proving that you’re a fair employer who values your talented workforce.
In Hialeah, workers’ compensation insurance typically runs at about $35 per $100 in payroll for roofers. But that shouldn’t be a source of concern – insurance is unlike other costs in that you don’t have to cover the financial side yourself. One popular strategy for combating these costs involves raising your hourly rates to cancel out the costs of the policies you choose.
Commercial Auto Insurance for Roofing Contractors in Hialeah, Florida
Most of us already hold personal auto insurance, but it’s important to understand that commercial auto insurance is a different type of coverage. Commercial auto policies are uniquely tailored to cover vehicles used for income-generating purposes. Personal auto insurance policies usually don’t cover this.
Whether your Hialeah roofing company has a fleet of trucks or just a few vehicles, you should cover all company vehicles under a commercial auto policy. That coverage will generally include physical damages to vehicles and provide insurance for any employee who might be operating one of said vehicles. Plus, commercial auto insurance is legally required in Florida.
So why else should you invest in commercial auto insurance? For one, It’s tax deductible – in other words, you can write it off. Personal auto insurance policies are not eligible for tax write-offs. Essentially, commercial auto insurance is a smart business investment that can actually help your business’ books come tax season.
Remember that commercial auto insurance does not cover the damage or theft of tools or supplies that might be stored in your vehicles. If you need that coverage (and most roofing companies do), you’ll want to investigate inland marine insurance.
Inland Marine Coverage for Roofing Contractors in Hialeah, Florida
Don’t let the name throw you for a loop – inland marine insurance is not water-related. It’s a policy for covering tools, equipment, and materials you are transporting between job sites or storing with a third party. Inland marine insurance covers costs incurred if your items are lost, stolen, or damaged under specified circumstances.
Many people assume that tools inside a vehicle that’s covered under a commercial auto policy are automatically insured – but that’s simply untrue! It might seem like they should be covered, but commercial auto insurance has to do with the vehicle itself, not its contents.
Let’s take an example: You’re driving a company truck with shingles and power tools in the back. Then, those tools get stolen. In order to protect yourself from the costs of replacing them, you’ll tap into inland marine insurance, not commercial auto insurance.
The tools and materials you’ll need for roofing jobs in Hialeah can be pricey, so you have to ensure you won’t need to pay out of pocket if you have to replace them. Inland marine insurance is a smart choice for any company that uses expensive tools or materials – and in the world of roofing, that’s a given.
Bonds for Roofing Contractors in Hialeah, Florida
Roofers in Hialeah may want to consider investing in bonding insurance. Why? Let’s break it down. A contractor’s bond is a commercial surety bond that is made to benefit both customers and employees if they suffer financial damage due to your actions as a contractor.
While it might not initially seem like a direct benefit to your roofing company, bonding insurance guarantees to stakeholders that you’ll follow your contract and get the job done. It protects others from harmful or negligent actions – not that you’ll ever intentionally do those things. So why should you hold bonding insurance?
Bonding insurance can help your roofing business stand out in the crowded roofing market of Miami-Dade County. Many contractors with bonding insurance opt-in so that they can make themselves stand out to customers and clients, who are often impressed by this show of good faith. Many organizations and homeowners have stated that they prefer working with bonded roofing companies.
Ensure You’re Covered in Hialeah, Florida
Running a roofing business in Hialeah is sure to keep you busy, but it’s crucial to ensure that you’re adhering to Florida’s insurance guidelines. You’ll need to stay compliant in order to keep your roofing license, but that’s not the only motivator. Holding robust insurance policies is also just a smart business decision.
No matter what insurance coverage you require for your roofing company, we can help you find the right policies quickly, easily, and affordably. You’ll be able to keep your business running for years to come by protecting yourself from unexpected costs related to accidents, injuries, lawsuits, damages, and more.
Our customers trust us for great customer service and cost-effective coverage.