Roofing Insurance for Tampa Contractors
Choose the Best Roofing Insurance Today!
Roofing involves its fair share of risks, especially given the heights and potential falls. It’s essential for business owners to secure the right insurance, ensuring both their operations and employees are safeguarded. Get Quote, Roofing Insurance for Tampa Contractors
Aside from wanting to protect your contractors, insurance is also a plus for customers. Seeing that their roofing company is insured tells them that in the event that there is an accident they are insured.
These are the most common types of insurance that roofers in Tampa might hold:
- General Liability Insurance
- Workers’ Compensation Insurance
- Commercial Auto Insurance
- Inland Marine Coverage
- Commercial Umbrella
The state of Florida requires all roofing contractors to hold a few different types of insurance. If you don’t stay compliant with those rules, you’re at risk of losing your license. But holding the proper insurance will keep your company and your wallet safe from issues like personal injury, theft, equipment damage, and legal disputes.
General Liability Insurance for Roofing Contractors in Tampa, Florida
General liability insurance is the most basic and most common variety of contractors insurance, and it’s absolutely necessary for roofing companies throughout Florida – including those that are based in Tampa.
When it comes to roofing, general liability insurance is often considered the first line of defense that can protect your business from legal claims regarding personal injury, property damage, or any other dispute. But it’s not just a smart business decision. General liability insurance is legally required in Florida.
General liability insurance will cover almost any claim brought against you related to work you are in the middle of or have previously completed. This includes accidents involving a client or a third party on your worksite. We know that you’re always working to prevent incidents, but unfortunately, they do occur. Make sure you’re not caught off guard by unexpected costs.
This type of coverage will usually cost between $2,800 and $3,000 per year in Tampa. But considering that attorney fees will start around $20,000 (and can go much higher) in the event of a lawsuit, that’s a reasonable investment that’s definitely worth paying.
Workers’ Compensation Insurance for Roofing Contractors in Tampa, Florida
Meant to keep employees financially safe in the case of injuries sustained on the job (which could lead to steep medical bills or lost wages), workers’ compensation (WC) insurance is a must-have. The roofing industry can be demanding and dangerous, so it’s crucial to make sure to have proper coverage in the event of an accident.
That’s why WC insurance is considered essential in the world of roofing. Throughout Florida, it’s a requirement for any business with more than one employee – but more than that, it’s simply a good idea.
You don’t want to be personally liable for claims filed by an employee. But that’s not the only benefit. Holding a comprehensive WC policy makes your business look good. It shows that you’re a fair employer who values the individuals who work for you.
In Tampa, workers’ compensation insurance for roofers will typically cost you about $35 per $100 in payroll. But don’t be alarmed. When it comes to insurance, remember that you don’t need to bear the cost of it all yourself. You can raise your hourly rates to effectively cancel out the cost of the WC policy you choose.
Commercial Auto Insurance for Roofing Contractors in Tampa, Florida
You probably already have personal auto insurance, but commercial auto insurance provides different coverage entirely. These policies are tailored to cover vehicles used for income-generating purposes. On the flip side, personal auto insurance policies don’t usually cover this.
Whether your Tampa roofing company has a fleet or trucks or just a few on hand, you should cover all your vehicles under commercial auto insurance. That coverage should include physical damages to vehicles and will also provide insurance for employees operating one of those vehicles. And let’s not forget that it’s legally required in the state of Florida.
Another key benefit of commercial auto insurance is that it’s tax deductible – in other words, you can write it off. Personal auto insurance is not eligible as a tax writeoff.
It’s important to remember that commercial auto insurance does not cover damage or theft of tools or supplies that might be stored in your vehicles. If you need that level of coverage (and most roofers do), you’ll want to check out inland marine insurance.
Inland Marine Coverage for Roofing Contractors in Tampa, Florida
Don’t think too hard about the name – inland marine insurance has nothing to do with water. It’s a policy made to cover tools, equipment, and materials while you transport them between job sites or store them with a third party. Inland marine insurance will cover the replacement costs incurred if your items are lost, stolen, or damaged under certain circumstances.
You might have thought that tools inside a vehicle covered under your commercial auto policy would automatically be insured – but that’s not true! Imagine this: if you’re driving in a company pickup truck with shingles and pricey power tools in the truck bed that get stolen, those tools would be covered by inland marine insurance, not commercial auto insurance.
The tools and materials needed for roofing jobs in Tampa can be costly, so make sure you don’t have to pay out of pocket to replace them. Inland marine insurance is a smart addition to your policy if you often drive materials around and want to protect them (and your wallet).
Commercial Umbrella Insurance for Roofers in Tampa, Florida
In the bustling city of Tampa, Florida, roofing contractors constantly face various challenges, from severe weather conditions to intricate construction demands. While standard insurance policies can provide basic protection, there are times when these coverages may not suffice. Commercial umbrella insurance offers Tampa roofers an extra layer of financial security, stepping in when primary policy limits are exhausted. Whether it’s a substantial legal claim or a costly accident, this insurance ensures that Tampa’s roofing businesses can weather any storm, both figuratively and literally.
Ensure You’re Covered in Tampa
You have a lot on your plate running your Tampa roofing business, but it’s crucial to ensure that you’re adhering to the state of Florida’s insurance guidelines. You’ll need to do so in order to keep your roofing license, but that’s not the only reason you should purchase robust coverage. These policies are also smart business moves.
No matter what types of insurance you need for your roofing business, we can help you find the right policies quickly, easily, and affordably. You’ll be able to keep your company running for years to come and protect yourself against costs from accidents, injuries, lawsuits, damages, and more.
If you want to get the best coverage now, from the best carriers and at the lowest price, call us at (866) 225-1950 or click for a free quote. We can assist you and answer all your questions 24/7!
Frequently Asked Questions (FAQ)
Get answers to your most common questions from Contractors Liability
For General Liability Insurance in Tampa, you typically need $1,000,000 per occurrence and $2,000,000 aggregate. Nearly all General Liability policies sold in Florida are $1,000,000/$2,000,000.
For Commercial Auto Insurance in Tampa, you need $1,000,000 CSL, meaning $1,000,000 Combined Single Limit for Bodily Injury and Property Damage to the other party combined. To protect your Tampa vehicle, you need to have Comprehensive and Collision coverage. Commercial Auto Collision Insurance in Tampa, FL covers any collision, and Comprehensive Commercial Auto Insurance covers anything but collision.
For Workers’ Compensation Insurance in Tampa, you generally need $500,000/$500,000/$500,000. This covers your workers in the event of a claim where the owner is liable up to $500,000. In 99% of cases, the owner is not liable, and coverage for workers’ compensation is unlimited.
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