If you own a roofing business, or own a construction business and sub-contract out roofing jobs, make sure your business is covered with the right insurance. Many homeowners and building owners will not even consider hiring your business if you do not have at least $1,000,000 in general liability insurance. In order to get roofing jobs, and in order to protect your business from potential lawsuits, you need to have insurance.
roofers insurance: Make Sure You Have A General Liability Insurance Policy
You can make a bid without having general liability insurance; however, most how much is business insurance and business owners will not let you work on their roofs if you do not have at least $1,000,000 in general liability insurance coverage. Depending on where you are working, the local government may require you to carry a certain amount of liability coverage. It is important both for your customers and yourself that you have the right coverage.
What General Liability Insurance Covers
Most general liability insurance plans will offer you five basic coverage categories.
Bodily Injury: If anyone is harmed at either your place of business, or if one of your employee's injured at a work site, your policy will cover their bills.
Complete Operations/Product Liability: This portion of your policy will cover any losses your business experiences after completing work for a customer.
Personal Injury: This portion of your policy will pay for any damages to the either the reputation or rights of a person or business. This covers such issue as slander, copyright infringement, libel, invasion of privacy, etc.
Advertising Injury: This will cover any losses that are caused due to advertising techniques that you employ.
Independent Contractors Liability: This covers any damage from any independent contractor you hire
Sub-contractors liability Coverage
If you own a construction company and sub-contract out the roofing work, you need to have a special policy in place to protect your business. You need to have a sub contractors liability coverage policy. This policy will cover aspects that your general liability policy will not cover. If you are ever sued based on word done by a subcontractor, your general liability insurance will not cover the suit because it is not work done by your company, it is work done by another company. That is why you need sub-contractors liability coverage, so you can protect yourself and your business from any potential lawsuits stemming from work someone you sub-contracted out to preformed.
Make sure that your protect your roofing business from potential lawsuits and losses by having the right level of general liability insurance. If you sub-contract out jobs for your construction company, make sure you also have a sub-contractors liability policy in place.