Insurance for Roofing Contractors
Roofing Insurance: What You Need To Know
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Any time your job takes you high above the ground, you’re in some type of danger. With every step up a ladder, or precarious perch atop an A-frame or colonial house, your risk increases that much more. That’s why as a commercial roofer, it’s important to have the correct roofing contractors insurance to mitigate those risks and keep you, your workers and your company safe and secure.
Roofers are known to have a casualty rate that is nearly double that of the average construction worker. That’s why it’s more important than ever to have a basic general liability policy that covers several different risk areas in the business of being a roofer. Roofing insurance needs to cover all types of injury, including bodily and personal: bodily is when you, your workers or your clients are injured, and personal is when your reputation or rights are being infringed upon. Medical payments of any variety are also commonly covered under this liability policy. Independent contractors insurance is typically also included in roofing liability insurance, particularly for companies that hire lots of seasonal workers or contract specialists to finish big jobs, install windows or do detailed design work.
As most roofing operations are fairly small, many roofing business insurance packages also take the form of Business Owners policies, which traditionally combine general commercial liability insurance with several other policies to create a robust package for small businesses. Business owners policies might include property damage insurance, which covers your property (and everything inside!) if it’s damaged in an accident or weather incident. Commercial roofing insurance also might bundle loss of income or income stream interruption insurance together in one package. In an industry where injury or property damage can mean being out of work for six months, this is a crucial form of coverage to have.
So how much is roofing insurance? Roofing insurance rates vary considerably depending on the size of your company, where you operate, what types of jobs you take and other more minute factors, like whether or not you rent or own your company vehicles. Roofing insurance companies take all of these different factors into account and zero in on exactly how much you should be paying for the coverage that you need. If you’re interested in purchasing insurance for a roofing company or learning more about the policy packages available, visit our website to request a quote and get started on the path to security.
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