Getting the right insurance as a roofing contractor is as simple as talking to an insurance agent. However, it’s always great to do a little research ahead of time.
As the business owner of a roofing company, you are the sole reason that many people enjoy a watertight building. When you take a job, whether it be to create a new roof or refinish an existing one, you take on a lot of responsibility. What do you think the dangers of your business are? With roofing companies, you must think about the builder’s risks as well as the client’s risks.
As the builder of a roof, you risk your workers each time you send them onto it. Even with the best practices, worker’s compensation claims can arise from an accident no one could have predicted. There is also a chance that your client doesn’t pay. As a residential roofing contractor, you run this risk more so than a commercial roofing company would. Have you thought about how your business would fair if someone couldn’t finish their payment?
On the other side of the coin is the clients. When you drive up into their lawn to begin work, you put their home at risk. If you damage the supports of the house, they could have massive financial losses. If you don’t do what you said or what they thought, they could claim advertising injury to win money back from you. In the worst situation, a botched job could leave you with liability claims that you can’t afford.
How then, do you find the proper insurance to make sure you’re covered from all these risks?
Talk to An Agent
The shortest method of solving this problem is to talk to an agent directly. You can get in contact with one through an insurance application, or in other words applying for a free quote. An insurance company will be able to walk you through all the types of insurance coverages and which ones would be best for you.
Not limited to opinions, they will also have the best understanding of the insurance requirements for your business based on your location in the United States and the work you do there. However, before you call, you should look into a few things yourself. It’s always a good idea to come with at least a simple understand so that you don’t have to rely solely on the insurance agent.
Types of Coverage
Though each of these could be an article on their own, these basic overviews should help you understand more about the terms that you might hear when you sit down with the insurance agency.
- Liability Coverage – Also called a liability insurance policy, a general liability, a contractors liability, or a roofing liability insurance this is a basic coverage type that will protect your roofing business from a myriad of things including any property damage claims that may arise.
- Workers Compensation – If you are not alone and have employees, this coverage will help you pay for any job site caused bodily injury that requires medical payments.
- Auto Insurance – Perhaps already known, this covers the vehicles that your company uses regularly. While you might drive your regular vehicle to do your jobs, your regular insurance will not protect you if they find out that you were doing business from the car.
What Should You Look For In An Agent
Though all it takes to get good insurance is to talk to an insurance agent, it is important to note that you need to find a great one. Always check online reviews to make sure you’re getting someone others can recommend. A company with great customer service will often outweigh the business with the best coverage option after a single accident happens and you have to deal with getting money from the insurance company. You should never have to pay for a quote, and if an agent gets mad when you ask questions, it’s time to go somewhere new.
Overall, an insurance agency will be able to tell you everything you know about the types of roofing contractors insurance. First, you should do some research on your own. Don’t be afraid to come in or call with questions and stay until you have everything mapped out. Always get more than one insurance quote to make sure you are getting the best customer service and the best deal. Overall, the more risk management you do in the beginning, the more money you will save later on.