Workers Comp Insurance for Roofing Contractors
Workers compensation for your roofing contractor business is required by law if you have any employees.
Lost Wages And Medical Care
Having workers compensation for your roofing contractor business is necessary to protect you from the costs associated with accidents on the job. If one of your employees is inured at work, they will need medical care and will need to be paid even if they cannot return to work. Your business insurance covers these costs as long as you hold a workers compensation policy.
Business Travel Protection
A typical policy that you might hold for workers compensation for your roofing contractor business probably will not cover incidents that occur in other states. If you send any workers out of state to do business, you may need to purchase additional coverage to ensure that you will not be faced with the costs of medical care and lost wages.
To get the benefits to which they are entitled, your workers do not need to prove your liability in an accident. If it occurred on the job, they are automatically entitled to get payments from your roofing contractors workers compensation. It is possible, however, that an employee will attempt to sue you for damages. If they believe they can prove your liability, they could get more from a law suit than from your insurance payments. Employer’s liability coverage in your policy helps you pay the costs associated with such a suit.
Employer’s Liability In Monopolistic States
If you run your business in a monopolistic state, you are required to purchase your roofing contractors workers compensation through a state fund. Payments to hurt employees come from this fund. If you are in a monopolistic state, your policy may not include employer’s liability. To protect yourself from the potentially high costs of a law suit, you need to purchase this additional coverage.
Employer’s liability is an important part of your roofing contractors workers compensation policy. Although you may believe a law suit is unlikely, if you are sued, the costs can be very great. If you are faced with paying legal fees, it could be more than your business can handle. Employer’s liability helps you pay attorney fees, court fees, and any damages that the court awards to your employee.
If your injured worker decides to sue a third party instead of you for the liability in an accident, you still could find yourself in a bad situation. The third party may turn around and sue you for liability. For instance, if a manufacturer of equipment that you use in your work is the third party, they may insist upon your liability for failing to adequately maintain a piece of equipment that your worker was using. If your workers compensation for your roofing contractors business includes employer’s liability, you will be covered for the legal costs of being sued by a third party.