If you are in the roofing business, you are well-versed with the risks and challenges that the business faces. The right type of roofing insurance will help you protect yourself against these risks and optimize your chances of building a successful business.
Why do you need roofer’s insurance?
The challenges that roofing companies face are multiple and relate to:
Weather conditions
Throughout the year in Texas, rain, wind, floods, storms or other weather vagaries create hazardous conditions. Rain or floods can make surfaces of roofs or buildings extremely slippery, particularly the steep-slope roofs. These can cause slips, falls and accidents apart from extensive property damage.
Falls and injuries
By nature, roofing work is a risky profession even with the best conditions. Unprotected roof edges, high elevations and steep slopes increase fall risks.
Professional errors
There may also be errors and omissions on the part of an employee or contractor. These include unsafe behavior, negligence, misuse of equipment or other errors that put the client or third parties at risk.
What types of roofer’s insurance do you need?
The type of roofer’s insurance you need depends on the size, nature and type of risks you face. However, the following types of insurance are recommended to safeguard yourself against the most common risks.
General liability insurance
This type of insurance covers the costs related to
- Bodily injury or personal injury of third parties – For instance, a client who slips and falls in your office can file a lawsuit against you for bodily injury.
- Property damage – If your property gets damaged as a result of third-party work, the costs of repair or replacement is covered by the insurance.
- Medical payments – If a client suffers injuries on your business premises, the insurance covers the medical bills or funeral expenses.
- Advertising injury – If your company has violated copyrights of another person or business or has made any communication that is considered slander, libel or malicious, the insurance covers the damages.
Professional liability or Errors and Omissions insurance
This coverage protects you against alleged or actual claims a client makes regarding your professional negligence, errors or omissions. The insurance covers the expenses of legal advice, defense, court fees and settlement.
Worker's compensation
If your employees suffer illnesses or injuries that are related to the work they do or while in employment, this insurance provides lost wages and benefits.
Commercial vehicle insurance
This protects the vehicles you use for your business including cars, vans or trucks.
Contractors Equipment Floater
This protects all types of equipment you use in your roofing business.
High risk business insurance and Business owners’ policy
These are comprehensive policies that cover wide-ranging risks, including product and professional liabilities, business interruption, equipment breakdown, bodily injury, crime and damage due to natural disasters.
Commercial property insurance
This insurance protects your office against property damage as a result of fire, freezing water, hail and wind damage, theft and burglary.
Contact Thumann Agency for the right roofers’ insurance
If you are unsure about which type of roofers’ insurance you need for your business, the first step is to call Thumann Agency. The leading insurance provider in Texas assesses your business needs to suggest the perfect roofers’ insurance policy that meets your unique needs.