Roofing Contractors Liability Insurance

While the coverage mentioned above is essential for a roofing contractor, you will want to build upon it with additional coverage types. At Trident Insurance, you can go over the different insurance options that would be best for your business. However, here are a few typical roofing business insurance options to take into account:

• Workers compensation insurance: Even if you only have one employee, most counties mandate that you have workers compensation insurance. If your staff members become ill or injured while engaged in work-related activities, it will cover medical costs, disability benefits, and lost wages. For instance, worker’s compensation would pay your employee’s medical expenses and lost wages if they fall off a ladder and suffer an injury.
• Tools and equipment insurance: This covers the cost of repairing and replacing your tools and equipment if they’re damaged, lost or stolen. For example, if someone steals your air compressor from the job site. This coverage may have limitations. For example, some insurance providers limit this coverage to small tools, mobile equipment, and less than five years old. This protection is also called “equipment floater insurance.”
• Equipment breakdown insurance: When completing your roofing projects rely on specific tools and machinery such as air compressors. Tool breakdown insurance covers the replacement and repair costs of the equipment due to unexpected breakdowns—however, normal wear and tear are not covered.
• Errors and omissions insurance: A roofing contractor may face a lawsuit if a client accuses of not finishing the task or performing subpar work. Errors and omissions insurance will cover the case cost even if the accusation is unfounded. For instance, if a client alleges that you did a poor job fixing a roof, this would cover the cost of your defence, settlements, and judgments. Professional liability insurance is another name for errors and omissions insurance.