Many independent roofers and roofing companies carry a variety of insurance policies. One of the most common types of roofer insurance is liability, which covers the policyholder in case he or she accidentally damages someone’s property. The roofer’s equipment is generally covered under property insurance. Many independent roofers also carry personal health and life insurance, and companies may offer these types of plans to their employees. Companies with employees may also have to carry worker compensation insurance and, if the company owns vehicles, auto insurance.
Liability insurance is important to any business, particularly one that uses heavy machinery and potentially dangerous materials on client property. Liability insurance pays for claims arising from accidents and mistakes during a job. For example, if an employee accidentally breaks a client’s window while hoisting shingles to the roof, this type of policy pays for the repairs, though the company may have to pay a portion, usually called a deductible. This type of roofer insurance often does not pay if the damage was intentional.
Another common type of roofer insurance covers the roofer’s business property. This can include any land or structure the company may own. It may also protect both roofing and office equipment. Such insurance often provides payment if the property is stolen or if it is damaged in a fire or other event.
Health and life insurance are two common insurance benefits that companies provide to employees or that independent contractors elect to purchase for themselves. Other related policies include dental, vision, and disability insurance. This type of roofer insurance is generally not mandatory but might help companies attract and keep good workers.
In many locations, companies with employees are required to carry worker compensation insurance. This type of roofer insurance pays for the medical care and loss of work expenses incurred by an employee who is injured on the job. Requirements vary by geographic location.
If the company or contractor owns vehicles that can be driven on public streets, such as cars, trucks, or trailers, it most likely carries auto insurance. In some areas, such roofer insurance is mandatory. These types of policies cover damage to the vehicle itself, damage caused by the vehicle, and usually, the medical expenses of anyone involved in an accident. Often, autos are insured against theft and, depending on the area, may be insured against an accident caused by an uninsured driver as well.