As a roofing contractor, you probably know that your profession is one of the top 5 most dangerous jobs in the United States.
The fatality rate is 47.4 per 100,000 workers.
Falls are the leading cause of fatal injuries, while other non-fatal injuries such as fractures, make roofing construction work among the most injury-prone jobs.
Obviously, if you’re a roofing contractor or you run a roofing business, then you know the health risks that you face each day.
But what about one of the greatest financial risks your business faces every day?
What happens if you or your employees injure someone? Or cause extensive damage to your client’s property?
Being in such a high-risk business is why Roofers Insurance is critical for the well-being of your business and its assets. It’s important to make sure that you have the right protection before a loss happens that could force you to suspend operations, or lose work.
Like any other business, roofers need a variety of insurance coverages to ensure their operation is protected. Additionally, rules and coverages can vary from state to state, so understanding Ohio Roofers Insurance is essential.
Commercial General Liability Insurance
If you run a roofing business, then a Commercial General Liability (CGL) insurance policy is a must, as it would protect your business when lawsuits or financial losses occur.
A typical CGL policy provides coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage as a result of your products, premises or operations.
For example, you complete a roof for a client and several months later, they call and complain that the roof was poorly installed and was collapsing. They want you replace the entire roof and the contents damaged as a result of the collapse, and they expect you to cover the costs of doing so.
Without a CGL policy, your roofing business would be paying for all of these damages out of pocket.
As a safeguard against liability, CGL enables you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. CGL policies also provide coverage for the cost to defend and settle claims.
Commercial Auto Insurance
Commercial Auto Insurance is another important policy that all Ohio roofing businesses must consider because you’re relying on vehicles to get you from one client to another. Doesn’t matter if you have one truck or a fleet of 100, you still need Commercial Auto Insurance.
The trucks or trailers that you’re using to haul your equipment should be insured. A Commercial Auto Policy can be used to insure vehicles for:
- Liability – this would protect the business owner in the event of an at-fault accident where the owner, or any employees, caused injuries to others while driving a company vehicle
- Physical damage to the vehicles owned by the business if they’re involved in an accident, stolen or vandalized
- Or both Liability and Physical Damage
For example, one of your employees could be driving a company truck with all of his materials and equipment in it when he is involved in a severe collision with another driver.
Your employee is at fault, there is extensive damage to both vehicles, and there will be medical expenses for both drivers.
Your Commercial Auto policy could cover the property damage, the medical expenses and any potential legal costs involved.
Finding the best insurance policy for your Roofing business in Ohio, and figuring out the types of coverage needed to protect your business, can be confusing, time consuming and difficult.
However, the right insurance protection is still critical to the success of your business. Without it, you're one claim away from being out of business.
And remember, not all policies are created equal.
You probably wouldn’t go to your eye doctor instead of your dentist if you were having a toothache, right? Just because they’re both doctors doesn’t mean they have the same skillset.
Just the same, you need an Insurance Advisor that understands your industry, your risks of loss, and how best to protect you and your business.
We can help.
We know the industry, we understand your needs, and we work with multiple insurance companies so we can deliver the insurance solution that’s perfect for your business, and your budget.
When you have confidence in your business insurance, you have greater peace of mind knowing that you can keep working to generate revenue, even when disaster strikes.
To get started on your customized solution, contact one of our Licensed Advisors, or Request a Proposal and we’ll get to work right away.