Roofers need to pay certain expenses in order to keep their business a success. Although materials and marketing costs are common, it’s important to consider an additional cost. Roofer insurance is a must if you want to succeed as a roofing contractor.
Why is Roofing Insurance so Important?
It is important to have insurance when you take on any job.
Some states require it. Depending on your work location, you might need to have minimum general liability insurance. Make sure to check the requirements of your state.
Clients might not hire you if you don’t have insurance. Smart consumers know the risks they are exposed if an unfortunate event happens on-site with uninsured contractors. This can lead to financial loss and negative perceptions of uninsured contractors. It could cost your business. Coastal Work Comp Brokers insures a variety of workers comp insurance savings risks, including roofing, construction & contractors and janitorial. We also cover home health, trucking, staffing agencies and manufacturers.
What types of insurance should roofers have?
General liability and workers compare the two main types of roofing insurance all roofers should have.
General Liability: This insurance covers you and your employees if they cause property damage to the client’s property or injure a non-worker.
Workers’ Compensation: This covers your employees if they are injured or become sick on the job, and you cannot return to work.
You should also consider the following types of insurance:
Insurance for commercial vehicles
Tool and equipment floater. This insurance is available as an addition to general liability insurance. It provides protection for your tools.
These are the steps to take when you hire a roofer and file an insurance claim following a storm.
Do not sign anything immediately.
You could end up signing a contract at the start of a conversation about roofing contractors. This may prevent you from getting other estimates. This contractor may force you to work with them regardless of their price, reputation, or abilities.
Take your time, be patient and research to find a qualified contractor.
Reputable roofing companies are likely to be busy after major storms. If your roof isn’t leaking, you can wait until the contractor who makes you feel most at ease can schedule your repair.
It is now time to call your insurance agent.
Ask your agent about your policy. Be sure to clearly define replacement cost value and actual cost value in the policy. If applicable, check with your agent for your deductible and the name of your mortgage company.