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.
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:
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.
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.
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:
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.