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 at risk. If a company is liable for any injuries or accidents, then without workers compensation insurance, they will pay out a large amount of money. For small roofing firms this can lead to financial ruin. Roofing insurance may cost money. However it is a lot cheaper than not having it in the event that you need it.
Types of insurance
There are basically two types of article 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
This insurance is one of the two types of roofing insurance that you should seriously consider taking out. Without it you are in very great danger of paying large settlements from out of your own pocket. This sum can equate to hundreds of thousands of dollars. The only way to avoid this is through having workers compensation insurance.
Public liability
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 are responsible for paying damages and 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
If you are concerned about the cost of roofing insurance then you may want to consider joining a buying consortium. If you are already a member of a trade organization you may find that they have negotiated deals. 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 contractors 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.
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