Many businesses often neglect buying their own insurance because they don’t think that it’s necessary and that it’s just a waste of money. However, those in the roofing business need to understand that getting insurance to cover their business against any damages is an inherent part of taking care of your business, your people and the public. Working on roofing is a dangerous business because you’re working at high altitudes, working in intense conditions (heat, snow, rain) and there is always the possibility that an accident may befall your workers or people and property surrounding your workplace. It is then imperative that you get Roofing Insurance for your peace of mind.
There are basically two types of roofing insurance that you can get if you’re in business. The first thing you need to consider is Workers’ Compensation. The roofing business is reliant on its workers because they’re the ones who go up on the roof and fix whatever it is that needs to be fixed. They’re the ones who are exposed to the elements doing their job and you need to have something that can protect them in the event of an accident.
Important Roofing Insurance Policies
Workers’ Compensation insurance is your defense when one of your workers is hurt or killed in an accident in the course of his work. Workers compensation is paid from the insurance coverage that you bought and covers medical expenses for your employee, pays salaries and wages while your employee is recuperating and temporarily out of work and shoulders the funeral benefits for the immediate family members in the case of death. If you were to compute the total of these expenses, you will probably stagger at the amount, especially when you think that it’s going to come out of your own pocket when you don’t have the right insurance.
Another significant type of insurance for roofers is general liability insurance. Accidents on site can happen not just to your employees and workers but also to people around the work environment. When you’re dealing with fixing roof problems, it’s entirely possible for a tool or part of the roof falls down and hits someone or something on the way down. It may hit a person walking nearby or even a car that’s parked nearby. In cases like these, you may get sued for damages to person or property and it will be to your advantage if you have general liability insurance.
General liability is usually a part of BOP that covers settlement for damages to person or property when said damages are caused indirectly or directly by the insured, in this case, the roofing contractor and his business. Since you’ll never know when an accident, whether small or big, will occur and you don’t know the type of people who will be injured (there are those who are easily appeased and some who are really persistent when claiming compensation), it is best to be prepared and protected.
If you haven’t had a chance to talk with a professional regarding the best business insurance for roofers, you may want to check out Contractors Connection, call 800-369-3703 or request an online quote and you’ll receive the utmost attention you deserve.