Roofing Insurance Considerations
Roofing can be a dangerous job. Working at heights and often in some extreme conditions means that workers are put at risk on a fairly regular basis. If a company is held liable for any injuries or accidents to workers then without worker's compensation insurance they may be forced to pay out large sums from their own pockets. For small roofing firms this can lead to financial ruin. Roofing insurance may cost money but it is a lot cheaper than not having it in the event that you need it.
Types of roofing insurance
There are basically two types of article that you should consider using to cover yourself from any accidents or injuries. Workers compensation insurance protects against any injuries to workers whereas public liability insurance covers against similar accidents involving members of the public or property that belongs to someone else.
Workers compensation insurance
Workers compensation insurance is one of the two types of roofing insurance that you should seriously consider because without it you risk being forced to pay large settlements out of your own pocket. If the worst happens and one of your workers is killed through a work related accident this could equate to hundreds of thousands of dollars. Avoid this through having workers compensation insurance.
Public liability insurance
Public liability insurance is available to virtually anyone who needs it from cat minders to roofers. As far as roofing insurance goes this is another vital commodity to your business. If a member of the public walks into a piece of scaffolding or a shingle you have just fitted falls off the roof and hits a car you are responsible for paying damages and the cost of any required repairs. In some cases this can amount to large amounts of money. Comparatively speaking the monthly premium is virtually nothing.
Bring down the cost of your roofing insurance
If you are concerned about the cost then you may want to consider joining a buying consortium of some sort. If you are already a member of a trade organization you may find that they have negotiated excellent deals on all aspects of roofing insurance and taking advantage of these deals can save you both time and money.
Buyers should find out what roofing insurance coverage a firm has
If you are a consumer looking at having a new roof fitted then you should check any potential roofing company to see what forms of roofing insurance they have. You should know that because the price of roofing insurance can be quite high some roofing firms have now taken to using a general contractor's insurance policy. If the roofing firm you use cause any accidental damage to your house or anything in or around it then you can only be sure that you will be covered if they have roofing insurance. Roofing insurance firms will pay out quicker and easier than if you have to rely on the roofing firm themselves to compensate you
Copyright 2005 Roofer 911.com. All Rights Reserved
by Steven Briesemeister. Reprinted courtesy of Roofer 911.com, roofing contractor serving Long Island, Queens, Brooklyn, NY and northern Virginia.