As a roofing contractor, you put a roof over your head by literally putting a roof over other peoples’ heads. It’s a job that takes hard work, tremendous skill, and a whole lot of courage, but it’s rewarding.
When your clients need something sturdy overhead to make them feel safe and secure, that’s where you come in. When you need an insurance portfolio that makes you feel the same about your business. But do you actually need insurance as a roofing contractor?
This article will cover the following must-know topics:
• Whether you need roofing contractors insurance (spoiler alert: yes you do)
• Why you need insurance as a roofing contractor
• The types of insurance you should consider
• What is covered under each of these insurance types
• Where you can find the best insurance solution for your small business
Do you need roofing contractors insurance?
Roofing contractors face some of the toughest and most risky situations. The job comes with immense physical and mental demands, on top of requiring carefully-honed skills. That’s why, as a roofer, you need a comprehensive insurance program.
The short answer: yes.
The slightly longer answer: business insurance helps protect all companies from the various risks that arise by simply being in business. For a job as risky as roofing, liability insurance becomes even more necessary. Not only do you want to ensure that you are covered in the case of any claims from upset clients, employees, or other third parties, but you also want to protect your assets should any harm come to your equipment.
Why is roofing contractors’ insurance necessary?
Roofing can be an incredibly dangerous and daunting profession. For instance, did you know that it makes the top five list of work-related deaths in construction?1
Due to the many risks associated with the job, it’s crucial that you arm yourself with a solid insurance plan. A strong insurance solution will help protect your financial well-being and your roofing business by covering the following:
• Bodily injury claims
• Lost or damaged equipment
• Commercial vehicles and property
• Damage to property of others
• Defense costs and legal fees
Additionally, having proof of stellar insurance coverage will boost your business’ reputation and growth. Here’s why:
• It gives clients peace of mind
• Insurance makes you more attractive to potential clients
• You save money in the event of a dire situation
• Insurance gives credibility to your business
What types of insurance do roofing contractors need?
Just like every roof requires a different set of tools, skills, and problem-solving, your business requires a unique mix of contractor insurance types to keep you fully covered on a rainy day.
Here are a few you should strongly consider:
General liability insurance
Whether a passerby incurs an injury or a house is damaged while you’re on the job, general liability coverage is here to protect you against third-party claims of bodily injury or property damage.
Keep your roofing knives and shingle cutters protected in the case of theft, loss, or damage through equipment insurance. This handy-dandy coverage ensures you’ll always be covered.
Workers’ compensation insurance
This type of insurance plan will help cover medical bills for employees hurt on the job, missed wages, and defense costs associated with work-related injuries. In most U.S. states, if you have employees, it’s legally required that you have workers’ comp.
If you drive a commercial vehicle to and from the job site, you need this type of insurance. In order to maintain a valid vehicle registration, each state has minimum liability insurance requirements. In the case of third-party property damage or bodily injury caused by your work vehicle (or damage to your own vehicle), you’ll want to be covered adequately.
Professional liability insurance
If your roofing business also involves any form of professional advice or recommendations, you may want to protect yourself against possible allegations of negligence with professional liability insurance.
If you want to layer in even more protection to your roofing contract insurance portfolio, consider these additional coverage types as well:
• Work performance bonds
• Business owner’s policy (BOP)
How to find the best policies for your roofing business
When shopping for liability insurance for your roofing business, or any business for that means, look for a policy that fits your specific needs. Consider your schedule – do you work year-round or do you need a more flexible policy that is only active during certain time periods (i.e. due to seasons). You can usually save on your monthly premiums if the insurance provider bundles a few types of insurance. Most importantly, read and understand the fine print of your insurance terms to make sure you’re completely protected against the appropriate risks.
Even though we don’t currently cover roofing, we still offer excellent and flexible coverage for contractors across the board. So, whether you run a snow plowing business during your off-season or work as a handyman as a side hustle, we can help protect you against risk.
With us, you can:
• Receive a free quote, purchase a policy, and get your policy and any necessary Certificates of Insurance (COI) in under a minute.
• Add or modify your Additional Insureds instantly (at no additional charge) on the Thimble mobile app.
• Download as many COIs as you want (for free).
• Never pay for more than you need to—insurance arranged by Thimble is on when you’re working, and off when you’re not.
So, what are you waiting for? Protect your small business so you can focus on growing your business.
Don’t cover someone else’s head without covering yours first
No matter how tough, smart, and brave you are as a skilled roofing contractor, you need an insurance partner to help you cover every corner of your business from lawsuits and injuries.
• Workers’ compensation, general liability, and auto insurance are must-haves
• Insurance is an investment in your staff, your assets, and your business
• Don’t forget to print or download your COIs for an extra dose of credibility
And who knows? Adding a few heavy duty business insurance policies to your toolbox will probably make you feel lighter.