Roofing Insurance

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Roof Insurance Contractors in Silver Spring, MD

Roof Solutions Assists with Roofing Liability Insurance

Roofing insurance is essential for homeowners and roofing contractors in Silver Spring, MD. Being protected by roofing liability insurance gives you peace of mind that if anything goes wrong, you’ll be covered. General liability coverage protects roofing contractors. It protects their business in the event that a client or third party files a claim for property damage or personal injury. Roofing insurance is a general liability policy that covers financial losses due to these incidents. As a roofing contractor, roofing insurance protects you and not your customers. Learn more about roofing insurance and contact Roof Solutions for a roofing insurance quote.

Basics of Roofing Insurance

Being a roofing contractor is rewarding but also demanding. Replacing damaged shingles or completing a roof for a new home is hard work and can sometimes be risky. That’s why you need to be sure your contractors are protected in case of an accident or injury on the job. Residential and commercial roofing contractors must provide proof of insurance coverage. Roofing is one of the highest risk jobs and is also dangerous when working near powerlines or electrical. General liability insurance protects your roofing contractor business against the following:

· Bodily Injuries – You can be held liable if a homeowner walks outside to check your work, and your tools slide off the roof and injure them. General liability insurance covers associated medical expenses, as well as legal costs and awards of damage up to your policy’s limit.

· Medical Payments – Insurance will cover medical expenses associated with injury regardless of who’s at fault. This is often referred to as a goodwill gesture and can help avoid lawsuits.

· Property Damage – There are many situations that can arise at a job site. A ladder can fall and damaging a car or break a window or a tarp can be lifted off the roof by the wind and cause a leak that leads to interior damage. In these cases, you are protected by general liability coverage.

· Personal Injuries – General liability pays for needing to redo work or paying another contractor to finish it. Some homeowners will claim that jobs are not completed correctly.

· Advertising Injuries – This comes into play when contractors fail to live up to advertised prices or other claims. It also covers claims you make about a competitor that is proven false and you’re sued for slander.

Types of Insurance Coverage for Roofing Contractors

There are many types of insurance coverage for roofing contractors, so you can ensure you’re covered no matter what. Learn a bit more about the following types of roofing contractor insurance:

· Professional Liability – This is also known as “errors and omissions” insurance. It protects you from faulty advice or consultation or professional errors.

· Workers’ Compensation – This protects you if employees get hurt on the job and replace their income and pay medical costs.

· Commercial Vehicle Policy – This protects you in case any of your employees have an accident driving a company vehicle.

· Inland Marine Policy – This is also known as “tools and equipment floater”. It protects your businesses’ tools and equipment while being transferred from Jobsite to Jobsite or while they’re stored offsite.

· Performance Bonds – This surety bond covers expenses if your work is deemed insufficient or you’re not able to complete a project.

· Business Owner’s Policy – This covers your showroom or storage facility. You can combine business property insurance and general liability coverage.

· General Contractor Insurance – This option may work if your business provides services other than roofing. You might also qualify if roofing is not your primary offering.

How Much Does Roofing Insurance Cost?

Roofing insurance can cost a lot, but it’s a necessary expense. Roofing insurance can be more expensive than insurance for other industries. That's because roofing contractors face a significant risk of workers being injured. Your insurance costs will vary, but a general range is $2,000 to $5,000 per year. Factors to take into account include your business location, how many contractors you employ, your company’s annual revenue, your safety policies and procedures, and your history of accidents and injuries.

What To Look for in Roofing Contractor Insurance Coverage?

It’s important to know exactly what your roofing insurance covers and how you can ensure that you’re prepared for any future liability claims. Some things you’ll want to look for in roofing contractor insurance coverage include property protection, general business liability, clearly stated limits and minimums for coverage, and being able to add your clients as additional insured. If you need roofing insurance in Silver Spring, MD, contact the trusted team at Roof Solutions to learn more about your options.






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