Roofing Contractor Insurance
Roofing Contractor Insurance in Tennessee
If you run a roofing company in Tennessee you have probably invested a great deal of financial resources in your business. Your investment deserves the best protection from risk. All it takes is one catastrophe like major storm damage or, an error on the part of one of your crew members, to cause serious financial headaches. It’s not possible to avoid all hazards but, you can plan ahead by securing the right kind of Roofing Contractor Insurance. Proper risk management and hiring the right insurance professionals can make all the difference in the world. Let’s look at a good example.
Charles grew up in the roofing business and as a child he watched his dad and dreamed about being a roofer someday. When Charles entered high school that dream came true as he worked for his father in the summer and after school. He took vocational training classes in high school to learn all about being a contractor. Upon graduation, he worked for his father’s roofing company. After 10 years, his father retired and Charles took over.
Charles learned about the importance of risk management in vocational technical school. As soon as he assumed the business he contacted his independent insurance agent to make sure he had sufficient coverage. This made it much easier on Charles, because he had peace of mind knowing that he had taken the steps to protect himself in case of an issue.
What is Roofers Insurance?
A roofer’s policy is designed to cover risks that modern day roofing companies face. In addition, it also covers many risks common to contractor businesses.
Who Needs Roofing Contractor Insurance?
Are you a roofing contractor? Do you run a home improvement business which also performs roofing jobs? These businesses may also need this kind of coverage:
- Siding contractors
- Handymen companies
- Building contractors
- Roofing subcontractors
Can I Buy a Standard Roofing Company Insurance Policy?
As a contractor you have basic needs the same as many other contractors and this can include:
- General liability protection – covers injury claims and things you or your crew may do that results in damage to others.
- Commercial auto insurance – this is essential for trucks, vans, or cars, registered to your company. In fact, it’s best to have full coverage.
- Commercial property insurance – protects business property you own like offices or other buildings.
- Workers’ compensation – by law, your employees must have this kind of insurance protection which covers on the job injuries.
- Equipment coverage
Options for Roofers Insurance
Your roofing company may need to have several insurance options, such as:
- Extra general liability insurance – this is very important if your business does commercial roofing jobs.
- Extra auto liability insurance
- Product and materials liability
- Inland marine insurance – this protects your equipment and roofing materials while in transit.
- Surety bonds – if you bid on jobs (especially government jobs) you may need to provide some kind of guarantee that you can handle all phases of the project.
- Course of construction insurance – commonly called builders risk coverage, this is very important for large roofing projects. This insurance reimburses you for losses occurred while your project is in the process of being completed. For example, you are doing a roofing job and a storm destroys all your work before you can finish. Builders risk insurance covers these types of claims.
- Employee non owned liability coverage – this insurance is known as ENOL and provides liability insurance for your workers if they use their private vehicles for your business.
Where to Find the Right Roofing Contractor Insurance
Finding the right insurance agency is very important and Veritas Risk Management is there to provide you with the best coverage at affordable rates. We are an independent insurance agency offering many services. We have access to many insurance carriers that handle roofing contractors. That allows us to find you the best possible rates. We can also set up options such as monthly worker comp reports so you won’t have to deal with a big yearly audit bill. In additional we can offer monthly installments by using the monthly bank draft option. At Veritas we also provide you with professional assistance with general liability and work comp audits, and this includes a free pre-audit consultation, to ensure everything goes smoothly.
Don’t take unnecessary chances with your Roofers Insurance coverage. See what Veritas Risk Management can do for you and your business. Fill out our short quote form and we’ll contact you, or call our Johnson City, TN office at (423) 292-4142.