Roofing Contractor Insurance
Roofing insurance protects your business from litigations arising from accidents, errors and spoken or written word. In the modern world, the need for an insurance cover cannot be taken for granted, since people can sue over anything including that which is beyond your control. Roofing services for a new house or as a replacement of an old roof has a growing demand especially due to booming real estate business. As a roofer, you need an insurance policy woven to suit the specific needs of your business as it comes with numerous benefits.
Benefits of roofing insurance
Applying for a general liability cover can be cheap and apparently save you some cash. However, this joy can only last till when you are served with a claim for issues that are specific for roofing, hence need to dig into your business savings for compensation. Protect your income by applying for a policy that responds to the needs of your roofing business and get the following benefits:
Opens up great project deals
When you apply for an insurance policy for roofers, the provider provides you with a certificate that serves as a proof that you are covered. This gives you an edge in the roofing industry as big companies and real estate firms will require you to show your insurance certificate before hiring you for the roofing job.
Protects your income
An accident or sickness affects income flow in your business. Depending on the severity of the injuries and sickness, you may require years to recover. Insurance policy for roofers protects your expected income hence allowing you to recover in peace.
Provides protection against malice
Competition in the roofing business can sometimes get nasty with competitors using malice to pull your business down. In most cases, the spoken or written words used in advertising your business may be used to prove that you trashed a competitor. This may result in demands for compensation that are effectively covered by the insurance policy.
Roofing contractors’ liability policy
There are several roofing insurance policies that are designed to cover different categories of risks in your business. Here are some of liability policies as you can negotiate for a customised cover:
This policy covers the completed roofing work against possible claims. As a roofing contractor, you may accidentally leave some gaps on the roof resulting to leakage. This may lead to massive property destruction whose compensation is covered by product liability policy.
Injuries to passersby on an unprotected site or damage of property may lead to huge legal and medical fees or worse, compensation for lost life. Damage to properties may also occur on the roofing site. Third party liability covers these claims should they occur.
It is difficult to run a roofing business without a considerable number of employees. If an employee is injured while at work, you are liable. That is why you need this policy for workers’ compensation.
Tools and equipment policy
Roofing tools and equipment guarantee the success of your roofing job. This policy provides a compensation for lost or damaged tools allowing you to continue working on projects.
Roofing insurance provides a professional indemnity policy that covers you in case of erroneous advice giving.