When you need to do jobs on your roof, your first thought is contracting the company that offers the lowest bid.
But on this topic, it is very important to consider some issues:
You must verify if the contractor has general liability and worker’s compensation insurance coverage.
Reasons for contractors´ insurance
Construction is a very big industry, and very challenged with thousands of competitors.
This means that costumers have an enormous amount for choosing one when making repairs in their roofs.
One important selection criterion is the contractor insurance protection against accidental damages to the people/properties.
When something bad happens on a job site, the contractor can be sued for damages and/or injuries.
In some cases, even the homeowner can be sued, too, so insurances mean protection for the contractor and the costumer in those cases.
The contractor insurance protects you, as costumer from being liable for damages or injuries occurring while the contractor is working on your property.
Therefore, an indispensable task for homeowners is to verify insurance coverage, before signing any document for property repairs or constructions.
TYPES OF INSURANCE FOR ROOFING COMPANIES
In general, roofing contractors must have, at least, these three different kinds of insurance:
• Workers’ compensation:
Roofing business has a lot of risks in job site, due to this, one of the most critical issue in roofing business is workers´ safety.
Roofing is a dangerous, there are many chances of accidents for the use of power tools, the chance to slip and fall, and other chances.
This is also a reason why workers´ compensation insurance must be essential when doing any type of roofing contract.
Maybe the contractor will have to pay a bit more for a good workers compensation policy than most other lower-risk issues.
This will rise the value for the job contract, but is a must and will worth every penny the homeowner will pay.
If any of the contractor workers is injured on the job, the compensation insurance will pay the medical bills, including rehabilitation.
This insurance will also give lost wages while the injured worker is recovering and not working.
When a fatal injury occurs, it will also pay disability and protect the contractor from workers´ compensation claims and trail costs.
• General liability
A typical general liability insurance policy will cover:
Advertising injury (if you slander a competitor).
A general liability policy should protect contractors in the case of someone who is not an employee working on the site is injured at the job site.
A common case is when one of the contractor tools fell off the roof and injured someone who is walking by the job site.
In that case, this insurance would help cover all costs associated with such accidental injury.
General liability also covers issues related with reputational rights of the contractor business.
• Surety bond.
Contractors may need additional policies to protect their businesses and to reassure customers about their professional status and good will.
When homeowners choose a professional roofer, they always want to assure that the roofing contractor is bonded for their protection.
A surety bond is a legal contract that protects one party against monetary loss if the second party fails to perform the agreed task.
Bonded When a contractor is bonded, this means that the job will get done, no matter what.
Coverage for liability insurance.
For general liability, the typical coverage amount range is between $1 million and $5 million and must be up to date on the certificate.
The homeowner also need to find out whether the roofing contractor he hired can complete the work by himself or if he needs to hire a subcontractor for anything.
Need for an indemnity insurance
The indemnity insurance is an insurance policy that compensates an insured party for certain accidental damages, injuries or losses up to a certain limit.
Insurance companies provide coverage in exchange for premiums paid by the insured parties.
There is not a legal requirement to have a Public liability insurance, but it is a very desirable and worthwhile investment for roofers.
This type of insurance is designed to protect the contractor in case of damage to property or injury to other people as a result of the roofing work.
How to know if a contractor has insurance
The best way to know this is to request the contractor a certificate or insurance when starting negotiations for the job.
This certificate is a prove that the contractor has the protection needed for this type of activities.
Ask the possible contractor(s) for the name and the phone number of the insurance agent.
Contact the insurance company and request the certificate of insurance. This certificate will prove that the contractor has enough insurance coverage for the job.
Let the experts at Best choice construction LLC help your construction plan by accomplishing with all the insurance policies you need to be confident with our job from the start.
Our policy is to provide you a 100% satisfaction guarantee.
Our experts will work to make your dreams come true, and exceed your expectations in every job.
We invite you to visit our web site: https://bestchoiceconstruction.com/