Roofing contractors are an integral part of the construction industry. They are responsible for installing, repairing, and maintaining roofs on commercial buildings. As a roofing contractor, having the right insurance policies in place is essential to protect your business. In addition, proper insurance can help protect you from financial losses due to accidents, damage, and other unexpected events. 

The Law behind Insurance Policies for Roofing Contractors

According to the Bureau of Labor Statistics National Census of Fatal Occupation Injuries, fatal workplace injuries increased from 5,250 in 2017 to 5,250 in 2018. This is a stark indication of the influence of workplace safety and the need for employers and employees to be mindful of their safety at all times.

In fact, roofing companies aren’t safe from the potential dangers of their industry. This is why it’s important to have roofing contractor insurance policies in place to protect their business and employees. In the United States, roofing contractors must have the following insurance policies:

Business Owners Policy

Although some companies often go for different roofing contractor insurance policies, the business owner’s policy is something you should consider. Simply put, it provides coverage for property damage and liability for a business and its employees and helps protect a company from being taken to court if an employee is injured or a customer’s property is damaged.

There are three coverage plans involved with this policy, including:

  • Property Coverage: This coverage can provide coverage for various types of property. This includes the roofer’s tools, equipment, and materials used in the roofing business. It can also provide coverage for any buildings or structures the roofer owns. In some cases, property coverage may even include coverage for business interruption, which can help a roofer recover lost profits due to a covered event.

  • Liability Coverage: This plan is essential insurance for businesses of all sizes. It protects you from the financial costs associated with claims resulting from an employee or customer injury.

  • Business Interruption Coverage: A type of insurance that can help protect your business in the event of an unexpected disruption or disaster. This coverage can provide financial assistance to help you keep your business running or to help you recover lost profits and other expenses that may result from a disruption or disaster.

Workers Compensation Insurance

Roofing contractors often face injury cases and damage claims due to their work. In this case, worker’s compensation for roofing contractor insurance is necessary. This coverage entails the following:

  • Medical charges for employees injured on the job
  • Lost wages for employees who cannot work due to an injury
  • Funeral costs in the event of an employee’s death
  • Legal costs associated with a lawsuit
  • Compensation for damaged property caused by the contractor’s work

One significant benefit of this insurance is that it can provide financial protection against various risks, such as funeral costs, legal costs, and compensation for damaged property. This can help protect businesses from unexpected expenses and ensure they can handle unexpected financial obligations.

Final Thoughts

Roofing contractors need to protect their businesses with the right insurance policies. They must consider the type of roofing they carry out, their geographic location, and the size of their business. After all, roofing contractors can minimize risk and maximize success with the right insurance policies.

Pascal Burke Insurance Brokerage Inc. provides affordable and high-quality roofing contractor insurance policies for businesses of all sizes. We understand the importance of protecting your business, and our team of experienced professionals can help you find the best policy for your needs. Contact us today to learn more about our roofing contractor insurance policies!