Roofer Is A Top 5 Dangerous Job. Protect Yourself Roofing Contractors Liability Insurance
You know the risks you face each day as a roofer or roofing contractor. One fall from a roof or ladder can cause severe injuries that could compromise your ability to do your job and earn an income. There are also the risks of property or equipment damage, and injury to your employees or subcontractors and others near the job site. Roofers Insurance is critical for you in addition to workers compensation insurance coverage. Roofers Insurance is very important for your liability protection and the well being of your business.
The Risks Roofers Face
- Roofers die at a rate of 29.9 deaths per 100,000 full time workers
- That this 5th highest work related death rate among construction workers.
- That is 2 times the average of all construction workers, which is 15.2 % per 100,000 workers.
- Approximately 50 roofers die each year mainly from falls
Important Insurance for Roofers To Consider
Roofing contractor insurance comes in many forms. The specific coverage you will need depends on the nature of your business, whether you hire employees or sub contractors in Kentucky and whether or not you work year round. In some cold climates roofers only work 8 or 9 months out of the year, and may devote the coldest months to other jobs or work or snow removal. Your business is unique and the combination of coverage that makes up your roofing contractor insurance portfolio should be tailored for you.
Here is a quick overview of several different types of business insurance coverage you may want to consider.
- Business Owners Insurance policy or BOP This is a combination of insurance coverages designed for the small business roofing owner. You may receive insurance discounts if you bundle some of the coverages together.
- General Liability Insurance The insurance coverage provides coverage for third party property damage or bodily injury to non-employees.
- Professional Liability Insurance This coverage may be appropriate for your business if you consult with customers and recommend specific products. It is designed to protect you from the high costs of legal claims if advice or recommendations you provide result is loss to your customer
- Workers Compensation: Workers compensation insures your employees if they become injured in work related accident and can provide lost wages if they are disabled and unable to work.
- Commercial Auto Insurance policy Protects your cars and commercial vehicles vans and specialized trucks and trailers for your roofing business.
- Product Liability Insurance: If you sell products in your work, you may want to protect yourself against liability Insurance risks.
General Liability Insurance for Roofing Contractors
Now lets examine the details of a general liability or roofers liability policy. Coverage may be included in these specific areas.
- Bodily Injury: Protects you if anyone is physically injured at your place of business for non-employees at a job site.
- Personal Injury: Covers any damage to reputation or rights of another business or person, includes issues like slander, libel, copyright infringement privacy or wrongful arrest or eviction.
- Advertising Injury: May cover claims of loss by your customers due to a product or service your advertised
- Medical Payments Medical Expenses as a result of injury on your property for non-employees
What is Business Owners Insurance
Business owners insurance sometimes referred to as a “BOP” is designed for small business that do up to $5million in sales and have less than 100 employees. A BOP combines general liability insurance with a few other options
Property Damage – Covers your property and its contents from damage; includes rented or owned office buildings warehouses, storage facilities, garages and other buildings as well as office equipment computers inventory and tools and equipment.
Loss of Income or Business Interruption: Protects your business in the event that a business interruption causes you to cease work and lose income and operating expenses for up to 12 months.
You may be able to carry general liability insurance if you are self employed do not have payroll expenses and do not lease or own a building.
What other insurance coverages Make Sense for a Roofer or Roofing business or contractor
As a roofer or roofing contractor, here are a few options you may want to consider depending on your concerns and the nature of your work. Sometimes these can be added to the business owners insurance policy or you can purchase them as stand alone coverages
- Tools and Equipment Floater
- Inland Marine Insurance
- Commercial Vehicle Insurance
- Work Performance Bonds
Resource for Other Insurance for Business Insurance