5 Reasons Why You Should Have Roofing Insurance

Roofing insurance is an essential piece of any business’s protection, ensuring that you, your employees and your company are properly covered in the case of any issues related to roofing. In this article, we’ll explore five key reasons why it is important for all roofers—professional or beginner—to invest in the right coverage.

Reduce Risk of Financial Loss.
Roofing insurance is designed to protect you and your business in the event of accidents, injuries, or damages. If an employee is injured on the job or there’s damage to a client’s property, without the proper coverage, you could be liable for any financial losses associated with those instances. Having roofing insurance in place can help ensure that any costs related to these circumstances are covered and prevents you from incurring large amounts of personal debt.

Protect Yourself from Injury Claims by Employees and Clients.
When it comes to roofing, the risks are high due to working at height and the potential for slips, trips and falls. With roofing insurance, you’ll be protected if an employee or client makes a claim against your business due to an accident that resulted in injury. Without adequate coverage, any costs associated with settling a lawsuit could be on your business’s shoulders. Many policies also provide coverage for medical expenses or disability benefits for injured employees.

Satisfy Regulatory Requirements for Businesses Operating in Your State.
Depending on your state’s laws, businesses may be required to have certain types of insurance coverage in order to legally operate. This includes roofing insurance, which provides protection against employee injuries, third-party property damage and any damages caused by faulty workmanship. Each state has different requirements, so it’s important to contact your local business licensing department for the specific requirements in your area.

Receive Assistance with Legal Action Filed Against You or Your Business.
Roofing insurance can provide comprehensive legal defense coverage if you or your business gets sued. For example, if a customer claims that you didn’t properly install their roof, your insurance coverage can help cover court costs and any other hazardous expenses related to the lawsuit. Additionally, it can also provide reimbursement for damages caused by any negligence in your workmanship.

Ensure Protection Against Property Damage and Other Financial Losses.
Roofing insurance can shield your business from financial losses due to damages that are caused by negligence or accidents while on the job. Your policy will provide cover for property damage, including the roof you’re repairing, as well as any other costs related to the incident, such as loss of wages. This coverage will help protect your bottom line and ensure the continuity of your business operations.