Being a roofer is not an easy task, and at the same time, it can be run smoothly if the right path is followed. To make sure a successful business is attained, there are some extra costs that roofers must take on. Some regular costs that are already known are materials costs, and perhaps marketing costs. Notwithstanding, some additional costs are vital. If you are interested in becoming a successful roofing contractor in Grosse Ile Michigan, you should be ready to make roofing insurance part of your annual budget or costs.
This article will take you through some reasons why roofing insurance is imperative for any roofer or roofing company, and the most convenient type of insurance for roofers
Types of Insurance Every Roofing Contractor Should Have
Generally, there are two major kinds of roofing insurance that roofers are supposed to obtain. They are:
- General liability
- Workers’ compensation
General liability insurance offers total coverage just in case any action by you (the roofer), or your crew (workers) leads to your clients’ property damage or cause injury to a non-worker on site.
According to the name “worker’s compensation,” it offers full coverage for workers on site. In the case of them getting sick or injured while active on-site and are not able to continue with the work.
Aside from these listed roofing insurance, there are other types of insurance to consider:
- Commercial vehicle insurance
- Tool and equipment floater
These types of insurance offer coverage for your roofing tools or equipment. It can also be added to the general liability insurance.
Why Is Roofing Insurance That Essential?
There are several reasons why it is important to get insured before or when taking on any roofing project. These reasons include:
1. Some States Demands That You Get Insured
Though this depends on the kind of roofing project you may be working on. It could be required of you to have the minimum general liability insurance. You can go through your state’s requirements for work to get more information.
2. Some Clients May Decline Hiring a Roofer Without Insurance
Some smart clients are well aware of the potential dangers they would encounter, in the case that an accident occurs at the roofing site to an uninsured contractor. Not being hired will lead to financial loss, and would negatively affect business. Hence the need for every roofer to get insured.
3. Roofing Is a Dangerous Profession
No matter how lucrative you think a roofing job is, it is as dangerous too. Several accidents have been recorded in the roofing industry. So getting roofing insurance serves as a contribution and investment towards your protection. According to data from the Census of Fatal Occupational Injuries, about 29.9 deaths have been recorded in the roofing industry per 100,000 full-time contractors.
To bring your roofing business to a standard, and to gain customers’ trust, you need to be insured and licensed. It will cause a boost in sales and bring you ahead of your competitors in the industry.