Are you a roofing contractor? Are you looking for the best insurance coverage? If your answer is “yes”, then this blog post is for you. We are going to discuss the benefits of roofing contractor insurance and why every small business should invest in it.

What insurances do roofing contractors need?

  • Public liability insurance: This covers your legal liability when someone is injured or suffers property damage while they are at your business premises. It also provides protection if you have defective products in your business premises that cause injury or property damage to clients’ property.
  • Workers compensation insurance: This is a compulsory insurance that protects you from the financial costs of an injury on site. It includes medical expenses, income replacement and rehabilitation services to injured workers.
  • General property insurance: If you own any buildings on site, this covers the cost of repairs for fire, storms, and other natural disasters as well as vandalism, theft and malicious damage to vehicles and equipment owned by you but not used for work purposes.
  • Tools & Equipment insurance: This covers the cost of replacing stolen or damaged tools used within your business.
  • Business interruption insurance: This is a form of property insurance that covers your business against loss of earnings if you are unable to operate because of damage to or destruction of your premises.

Speak to one of our insurance experts at Tradies365 to find out how our roofing contractor insurance policy can help you.

Benefits of Roofing Contractor Insurance:

Protects your risk exposure

  • Roofing contractor insurance protects your risk exposure.
  • Helps you avoid expensive litigation costs and legal fees.
  • Provides you with the best defense possible against claims of negligence, breach of contract and more.
  • Helps ensure that your business is protected from liability claims.
  • Allows you to focus on running your business rather than worrying about legal issues.
  • Keeps your company’s assets safe by preventing lawsuits against them.

Covered by roofing contractor insurance

Provides accident coverage

Roofing contractor insurance covers accidents that may occur in your company. It will cover your employees, customers, and others on the job site if they are injured due to an accident. This coverage also extends to injuries that occur when working at home or while commuting to and from work.

Another important aspect of roofing contractor insurance is liability coverage. This protects you against lawsuits if someone gets injured on the job because of negligence on your part (or lack thereof) as an owner/operator of a roofing company.

Covers your tools & equipment

In addition to the cost of your labor and materials, you also need to consider the value of your tools and equipment. Your tools are a critical part of your business. Without them, you can’t work—and that means no income.

If someone breaks into your storage unit and steals or damages valuable items like ladders or power tools, who pays for it? The answer varies by state law but generally falls somewhere between “the owner” (i.e., you) and “everyone else involved” (i.e., everyone else). Without proper insurance coverage, this could be a serious problem—one that may put even more pressure on your budget than an unexpected project did!

Protects you from legal and financial risk

Roofing contractor insurance also protects you from legal and financial risk.

  • Protects your business from lawsuits: If a client is injured on your property, their attorney may sue you for damages. This can be stressful to deal with, especially if the cost of the lawsuit is significant. Roofing contractor insurance covers this risk by paying for legal fees associated with any lawsuits brought against you.
  • Protects your business from financial loss: If someone sues you and wins, it could cost thousands of dollars in legal fees and settlement costs. This type of financial loss is covered under roofing contractor insurance policies as well as general liability policies (depending on the policy).
  • Protects you from financial loss if you accidentally damage someone’s property: Accidents happen all the time, even when we’re trying our best not to cause harm or injury—and sometimes those accidents cause damage to someone else’s property! That’s why it’s important that every business owner has protection against accidental damage caused by their employees or contractors while they’re working at another person’s home or business location (even if that location isn’t theirs).

Roofing workers

When you’re insured, you can focus on the job without worrying about the consequences.

Insurance provides peace of mind and a safety net. You can rest assured that if something happens, your business will be protected in the event of an accident or lawsuit. With proper coverage in place, you’ll be able to relax and enjoy working hard for your clients—and reap those benefits when it comes time for payment!

The best way to ensure you’re getting the right coverage is to work with an expert who understands exactly what kind of risks are involved in your line of work and knows all the policies that will help protect you. If you’re looking for a trusted advisor on all things insurance related, contact us! Speak to one of our brokers for more information on how roofing contractors’ insurance can help you and your business.