Roofing Insurance for Tallahassee 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.
Roofing insurance is a must-have for any and all roofing contractors in Tallahassee. Don’t have insurance? You are putting yourself at risk for financial responsibility related to any unforeseen negative consequences resulting from the work you have done.
That’s why it’s crucial to invest in robust insurance covers. Not sure where to get started? There are a few different types of insurance that roofers in Tallahassee often hold:
- General liability insurance
- Workers’ compensation insurance
- Commercial auto insurance
- Inland marine coverage
- Bonds
Throughout the state of Florida, roofing contractors are required to hold these insurance types. If you don’t comply with these rules, you may lose your roofing license. But that’s not the only reason insurance is important. It’s necessary to keep both your company and your wallet safe from issues like theft, personal injury, legal costs, or equipment damage.
General Liability Insurance for Tallahassee Roofers
General liability insurance is the most basic form of contractor’s insurance, and it’s an important investment for roofing companies in Florida – including those in Tallahassee.
We like to call general liability insurance the “first line of defense” that helps protect your business from legal disputes related to personal injury, property damage, or other claims. But that’s not all – general liability insurance is legally required for roofers in Florida.
What will your coverage entail? Well, good general liability insurance will cover basically any claims related to work you are in the middle of or have already completed. This includes accidents on your sites. While you are always working to prevent incidents, sometimes they’re inevitable. When they do occur, it’s important to keep yourself safe from unexpected costs.
General liability coverage will usually cost between $2,800 and $3,000 per year in Tallahassee. But given that attorney fees can start around $20,000 (and may go much higher) should a lawsuit occur, that ends up being a very reasonable investment.
Workers’ Compensation Insurance for Tallahassee Roofers
Created to keep employees financially protected if they get injured on the job (which could lead to steep medical bills or lost wages), workers’ compensation insurance is a must-have for roofing companies. The roofing industry can be dangerous and demanding, so it’s crucial to make sure you have proper workers’ compensation coverage.
Throughout the great state of Florida, workers’ compensation insurance is a requirement for any business that employs more than one person. That means that, unless you’re a sole proprietor, you will need to invest in this type of coverage.
How does it benefit you? Think about it like this: You never want to find yourself personally liable for workers’ comp claims filed by an employee. But that’s far from its only perk. Investing in a comprehensive policy makes your business look good. It shows that you’re a fair employer who values your talented workforce and is committed to safety.
In Tallahassee, roofing company workers’ compensation insurance typically runs about $35 per $100 in payroll. But keep in mind that you don’t have to cover that cost yourself. One popular strategy for mitigating the impact of insurance prices involves raising your hourly rates to effectively cancel out the cost of the policies you choose.
Commercial Auto Insurance for Tallahassee Roofers
Do you already have personal auto insurance? If so, that doesn’t mean you’re good to go. Commercial auto policies are made specifically to cover vehicles used for income-generating purposes. Personal auto insurance, on the other hand, doesn’t usually cover this.
Whether your Tallahassee-based roofing company has a fleet of trucks or just a few, you’ll want to cover all of your company’s vehicles through a commercial auto policy. That policy will usually include coverage for physical damages to vehicles and provide insurance for any employee operating one of your vehicles. The cherry on top? It’s legally required in Florida.
But this is actually a good thing. Why? Let us fill you in on the other key benefit of commercial auto insurance: It’s tax deductible! In other words, you can write it off. Personal auto insurance is not eligible as a tax write-off, so it’s worth your time to upgrade.
Finally, it’s crucial to note that commercial auto insurance does not cover damage or theft of tools or supplies stored in your income-generating vehicles. It sounds unintuitive, but it’s true. If you need additional coverage (and it’s recommended for most roofing companies), you should check out the inland marine insurance below.
Inland Marine Coverage for Tallahassee Roofers
Regardless of what the name suggests, inland marine insurance has nothing to do with water. It’s a policy that covers tools, equipment, and materials as they are being transported or stored. Inland marine insurance keeps you safe from costs that could occur if your items are lost, stolen, or damaged in the above scenarios.
Roofers often think that tools inside a vehicle covered under a commercial auto policy are automatically insured – but that’s actually not accurate! For instance, if you’re driving a company truck that’s full of shingles and power tools and those tools are stolen, they will be covered by your inland marine policy rather than your commercial auto policy.
The tools and materials that Tallahassee roofers require can be quite expensive, so you don’t want to get stuck paying out of pocket to replace them. Inland marine insurance is a smart decision if you often drive with or store costly materials or tools – and most roofers do.
Bonds for Tallahassee Roofers
Every roofing company in Tallahassee should understand the difference between licensed and bonded contractors. And here’s a hint: It’s good to be bonded! A contractor’s bond is a commercial surety bond that protects customers and employees if they are financially damaged by your actions as the contractor on a site.
It might not initially seem like a direct benefit to your roofing company, but bonding insurance guarantees that you’ll follow through with your contract and get the job done. It protects others from harmful or negligent actions – not that you’ll ever intentionally do anything wrong. So what’s the benefit of holding bonding insurance if you’re already following best practices?
Bonding insurance is a great way to make your roofing business stand out in a crowded market. Many contractors choose to buy bonding insurance in order to make themselves look good to customers and clients, who tend to be impressed by this show of good faith. Clients have actually stated that they prefer working with bonded roofing companies.
Keep Your Tallahassee Roofing Company Covered
You have a lot on your plate running your Tallahassee roofing company, but it’s important to set aside time to ensure that you’re compliant with Florida’s insurance rules. If you’re operating outside of those regulations, your roofing license could be at risk – but that’s not all. Holding robust insurance coverage is simply a smart business decision.
Regardless of what types of insurance you need for your roofing business, we can help you find the best policies quickly, easily, and affordably. You’ll be able to keep your company running for years to come when you protect yourself against costs from accidents, injuries, lawsuits, damages, and more.
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