Commercial General Liability Insurance
Commercial general liability protects you, your business and your employees from legal liability against third-party bodily injury or property damage claims that occurred at the job site and even after the job is finished. It covers the costs of medical bills, legal fees, and repairs or replacements. This insurance policy also protects you should the above occur on your company’s premises or any advertising and reputational injuries (e.g., slander, libel, copyright infringement).
Commercial Property Insurance
Commercial property insurance protects your brick-and-mortar office and the contents inside by covering the financial loss from such perils as:
- Property damage due to natural disasters, flood, fire, vandalism or theft.
- Property damage or theft of electronics, equipment, company documents or employees’ personal belongings.
- Inventory theft by employees.
Commercial property insurance can also include business interruption, which protects your business should you be unable to work due to an illness or injury and have to shut it down temporarily. This helps offset ongoing costs from income losses, such as bills, employee wages, etc.
Commercial Auto Insurance
Should you or your employees use any vehicles for work-related purposes, such as transportation of materials or getting to and from job sites, you need commercial auto insurance, as personal auto insurance will not cover vehicles used for work. This includes the following:
- Third-party liability: If you or an employee are found to be at fault in an accident while driving a commercial vehicle that leads to a third party’s property damage or injury/death, this policy will cover legal fees, repairs and medical expenses.
- Accident benefits: This policy covers the driver, passengers, or pedestrians if injured in a vehicle accident, regardless of who is found to be at fault. These benefits include:
- Income replacement, non-earner and caregiver benefits
- Medical rehabilitation and attendant care benefits
- Death and funeral benefits
- Miscellaneous benefits
- Uninsured automobile coverage: Should the occupants of a commercial vehicle be involved in an accident with an underinsured at-fault motorist or a hit-and-run driver, this policy covers medical expenses, lost wages and more.
- Direct compensation-property damage: If you are found not at fault while using a commercial vehicle, this policy covers the cost of repairs or replacement of your vehicle, its contents and a rental.
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance, protects your business and employees against the total cost of customer claims of negligence or inadequate work. Any company that provides a service should strongly consider having a professional liability insurance policy. It covers:
- Errors, mistakes and oversights
- Failure to meet deadlines
- Failure to deliver your product to a customer
- Professional negligence
- Failure to meet a standard of care
- Breach of contract
Equipment and Tools Insurance
There’s nothing more essential to a roofer than their tools. Without them, you cannot complete your job. Equipment and tools insurance covers reimbursement costs for tools and equipment that need repairs or to be replaced if lost, stolen or damaged due to theft, vandalism, fire or flood. This policy includes tools and equipment owned, leased or rented and provides coverage whether in storage, transit, or left at a job site.
Installation Floater Insurance
This insurance policy protects only the materials and tools needed for the HVAC job. It protects them during transit and while they’re being stored on-site before installation. This policy will cover replacement costs if your tools or materials are stolen.
Who can benefit from roofing insurance coverage?
Both independent roofing contractors and companies can and will benefit from roofing insurance as there are numerous risks in the roofing industry. Therefore, skilled workers and business owners must have roofing insurance to protect themselves and their businesses from financial loss or ruin due to unexpected events. Some of these events may include:
- Property damage or theft at your workplace or office.
- Injuries suffered by employees while on-site.
- Third-party lawsuits due to bodily injury or property damage that occurred during or after completing a roofing project that your business was found legally responsible for.
- Accidents involving your commercial vehicles.
- Third-party lawsuits due to injuries sustained by clients or visitors at your workplace or office.
