A Quick Guide To Roofing Contractor Insurance

Roofing Contractor Insurance is specialized liability insurance that is vital to any roofing company.  It covers you for a range of damages that could result in a lawsuit. It does not give protection against all the risks your business faces, however.  In this article we will discuss what Roofing Contractor Insurance is, and what else you may need.

What is Roofing Contractor Insurance?

In essence this is liability coverage in the event that you are sued for causing harm to another party. It is customized for roofers according to the types of risks they face. This insurance covers financial costs of damages caused to another, including:

• Bodily injury. This means the actions of your company have resulted in a person sustaining an injury. An example could be if one of your tools falls from the roof injuring the person below.

• Property Damage. This is damage to a property in the course of your work. This could be to the building you are working on, or a surrounding property.

• Personal Injury. If your actions cause harm to the reputation and/or income of another, they could sue you for damages.  Examples could be that you slandered a competitor; or your work was poor and reflected badly on another’s reputation.

• Advertising Injury. Your advertising or marketing could infringe on another person’s copyrights or privacy, resulting in you being sued for damages.

Do you have to have Roofing Company Insurance?

Liability insurance is mandatory.  You do have to have it.  Litigation in construction is becoming more prevalent and the courts have awarded very large settlements in recent years.  This insurance protects the future of your company in the event that you are sued for damages.

Do you need other Roofing Company Insurance?

Roofing Contractor Insurance does not cover you for everything. For a start you also need to have Workers Compensation.  This covers you for the costs of medical care and loss of income if an employee is injured at work.  This insurance is also a mandatory requirement.  There are other forms of insurance that are optional, like Builder’s Risk Insurance.  It may not be a legal requirement but the benefits speak for themselves.

Why Should Builder’s Risk be included in your Roofing Company Insurance?

Builder’s Risk Insurance is property coverage. In general it covers the replacement cost of materials, tools and equipment used in the construction or renovation of a building. These are not covered by either Roofing Contractor Insurance or Workers Compensation.  If a loss event occurs, you would have to pay for the replacement costs out of your own pocket.

Builder’s Risk Insurance:

• Is one shot insurance customized for a particular project
• Provides coverage according to the needs of that project
• Covers many loss events such as fire, theft, vandalism and wind.

Good News For Your Roofing Company Insurance

Builder’s Risk.net can assist you with this specialized insurance.  Our agents are experts and will write a policy to meet your needs.  We are committed to getting you the right coverage for your business at the lowest rates available.  Call Builder’s Risk at 877 960 0221 and protect your future business.