Roofing Insurance Considerations
You should be under no illusions; roofing can be a dangerous job. Working at such heights and often in some fairly extreme conditions means that workers are put at risk on a fairly regular basis. If a company is held liable for any injuries or accidents to workers then without worker's compensation insurance they may be forced to pay out a large amount of money from their own pockets. For small roofing firms, this can lead to financial ruin. Roofing insurance may cost money but it is a lot cheaper than not having it in the event that you need it.
Types of roofing insurance
There are basically two types of articles that you should consider using to cover yourself from any accidents or injuries. Workers compensation insurance protects against any injuries to workers whereas public liability insurance covers against similar accidents involving members of the public or property that belongs to someone else.
Workers compensation insurance
Workers compensation insurance is one of the two types of roofing insurance that you should seriously consider taking out because without it you are in very great danger of being forced to pay large settlements from out of your own pocket. If the worst happens and one of your workers is killed through a work related accident this sum can equate to hundreds of thousands of dollars. The only way to avoid this is through having workers compensation insurance.
Public liability insurance
Public liability insurance is available to virtually anyone who needs it from cat minders to roofers. As far as roofing insurance goes this is another vital commodity to your business. If a member of the public walks into a piece of scaffolding or a shingle you have just fitted falls off the roof and hits a car you are responsible for paying damages and the cost of any required repairs. In some cases this can amount to very large amounts of money. Comparatively speaking the monthly premium you will be required to pay is virtually nothing.
Bring down the cost of your roofing insurance.
If you are concerned about the cost of roofing insurance then you may want to consider joining a buying consortium of sort or another. If you are already a member of a trade organization you may find that they have negotiated excellent deals on all aspects of roofing insurance and taking advantage of these deals can save you a lot of time and quite a lot of money.
Buyers should find out what roofing insurance a firm has.
If you are a consumer looking at having a new roof fitted then you should always check any potential roofing company to see what forms of roofing insurance they have. You should know that because the price of roofing insurance can be quite high some roofing firms have now taken to using a general contractor's insurance policy. If the roofing firm you use cause any accidental damage to your house or anything in or around it then you can only be sure that you will be covered if they have roofing insurance. Roofing insurance firms will pay out quicker and easier than if you have to rely on the roofing firm themselves to compensate you.