Roofing is no easy feat, and many roofing companies are required to have multiple types of insurance due to the risks involved. While roofing businesses must protect themselves and their workers, they also must protect you; they must make sure that they can cover any potential damage to your home and non-workers on site. A roofing company should be both licensed and insured, and while there are multiple types of different insurance, you’ll want to know the two main important ones that all roofing contractors should have.
The Two Main Types of Insurance
General Liability Insurance
This is coverage for the homeowner. This insurance will cover costs related to damage to your home or to any non-worker on site during installation. The roofing contractor has to take responsibility for any mishaps, and so they are liable for any problem that could occur. General Liability Insurance usually covers these basic categories of business liability:
- Bodily Injury: Physical harm to a person during the job, or an injury caused by your employee at a customer’s home.
- Medical Payment: Insurance usually pays for the medical expenses of a person injured on your premises (this could be anyone from a pedestrian to a customer).
- Completed Operations/Products Liability: This covers losses after a job has been completed, for example repairing appliances or fixing wiring in a customer’s home.
- Advertising Injury: Losses caused by the company’s advertising (all types, for example written posters to radio adverts). Like personal injury, this covers the damage if an ad insults a competitor.
- Personal Injury: This is not physical injury but refers to damage to the reputation or rights of a person/business. For example, this would cover issues caused by copyright infringement, invasion of privacy, slander, false arrest, libel, etc.
This is just as important as General Liability, as a lack of workman’s insurance can result in the customer having to cover the injured workman’s medical costs. Also known as “worker’s compensation,” this type of insurance is to ensure that the roofing company can cover their workmen, should any illness or injuries occur on the job. Workman’s insurance also ensures that should anything break during the renovations, you can rest easy knowing that you can be compensated.
Workman’s insurance usually covers two basic amenities:
- Medical Coverage (Covers losses resulting from bodily harm to the worker while on site).
- Wage Replacement (wages paid to the worker while they recover from injury/illness caused from work).
What Else is There to Consider?
Remember, not all companies would have the same kind of insurance, as it depends on the kind of work that they do, as well as the state that they operate in. A good thing to keep in mind when looking at types of insurance is to check the details of the roofing company’s insurances, as well as their licenses – as these go hand in hand!
- Roofing companies situated in Florida should have a general contracting license certified by the Construction Industry Licensing Board. A roofing company like Aabco Roofing Corp. is state certified, and proudly one of the family-owned and operated roofing companies in South Florida.
- Check out the website of your roofing company and look out for their policies and customer reviews. A reliable company has nothing to hide and will be explicit about what insurance policies they have.
With Aabco Roofing, you can be sure that you will be hiring experienced, certified contractors with expertise acknowledged and recognized by the state. We can ensure that roof repairs and renovations are in accordance with building regulations and codes, so you can rest easy knowing that we are a reputable company.