Roofing Contractor Insurance
Roofing contractors often have ebb and flow to their work schedule. You may find that new contracts are scarce for several months at a time and then suddenly be inundated and backlogged. Keeping track of customers, suppliers and employers in this environment can become tricky and accidents can happen. Make sure your roofing company is fully protected with the right types of small business insurance before problems arise, so that you can rest easy and continue working when they do.
General Liability For Roofing Contractors
General liability insurance is a business policy that helps protect your company from unexpected problems. It covers customer liability issues such as bodily injury and property damage. It also protects you from suffering through the financial losses incurred when natural disasters strike. And it can protect your company from product and advertising liability issues as well. General liability covers most issues as long as they are not explicitly excluded from coverage on your policy, and it grows with your company so that new products and business locations are protected automatically.
Business Owners Policy (Bop) For Roofers
A business owners policy, or BOP, provides your roofing company with general liability coverage and various forms of tangible and intangible property coverage. The exact types of coverage you have depend upon what you choose to add, which makes a BOP flexible enough to fit your specific business needs.
- Equipment Breakdown – Roofing companies often use specialized equipment to provide services to customers. If the equipment breaks down it can be expense to replace. A BOP can cover the costs for repair or replacement.
- Buildings and Contents – Whether your roofing company uses a public office and shop, or simply keeps supplies in a warehouse or storage location, a BOP can protect you from losses of the structures and the tangible assets you have inside.
- Business Income and Extra Expense – If your primary business building or critical equipment is lost in an earthquake or other major disaster, your company can lose income while waiting for repairs. A BOP can take care of lost income and help with expenses that arise from renting temporary work space.
- Products and Completed Operations (Included in General Liability) – If problems arise in the future from roofing work you’ve completed in the past, a BOP can help protect you from the damages.
- Electronic Data – As a modern roofing company you may keep most of your important customer paperwork in electronic form, and you may use specialized software for project design and management. Losing this data to a computer virus could be expensive in terms of replacing or repairing the problems.
- Newly Acquired or Constructed Buildings – As your company grows and adds structures, a BOP will protect those new buildings.
- Valuable Papers Protection – Warranties and original blueprints can be expensive to replace it they are damaged or destroyed.
- Employee Dishonesty Coverage – If an employee of your roofing company steals merchandise, uses the company credit card for unauthorized personal purchases, or commits other dishonest acts a BOP can help protect you from the losses.
Workers Compensation For Roofers
When you have employees you are required by law to carry workers comp insurance. This coverage pays medical expenses for your employees if they are injured on the job.
Commercial Auto Insurance For Roofing Contractors
Commercial auto insurance can protect you from the damage or loss of company and personal vehicles used for business.
Surety bonds provide a guarantee to your customers that you will fulfill your contracts.