As a roofer, you’re well aware of the potential risks you face every day. All it takes is one fall from a ladder or roof to leave you with severe injuries that can compromise your ability to work and earn a living.
There are also risks such as damage to equipment or property or possible injury to a subcontractor or employee. Therefore, investing in insurance coverage to protect yourself or your company assets is important to securing the future of your business against serious financial consequences.
Here are more reasons as to why all roofers should consider having a roofing insurance cover.
The Risk of an Employee Getting Injured
Nearly 50 roofers lose their lives annually from work-related accidents. If they’re lucky not to die, roofers usually sustain injuries that limit their ability to work. To prepare in advance, roofing companies need to have a compensation insurance plan for employees to cover any medical costs that might accrue as a result of an injury when working.
Workers’ compensation also pays wages missed if the employee couldn’t work because they were injured as well as funeral and death compensation if the worker was to die.
But perhaps the most significant benefit of roofing insurance for companies is the possibility of avoiding legal implications from the worker if they were to sue the company for lost wages or medical costs.
The Risk of Property Getting Damaged
By virtue of the fact that roofing involves construction means homes are highly vulnerable to damage. There’s a chance that a roofing project will involve materials being hoisted onto and thrown down from roofs or frequent movement up and down ladders.
There are many things that can go wrong during a roof replacement or maintenance project. Even highly skilled and professional roofers can make errors that might lead to damaging accidents. With insurance coverage, roofing companies will avoid themselves and the client from footing the bill in the event of property damage.
Your equipment or machinery can also get damaged while in use. There are various policies that insurance companies offer against such events. A good example is commercial auto insurance that provides coverage for company cars, vans, and trucks.
The Risk of the Client Being Injured
It’s not just roofers who can get hurt from roofing accidents. The client or any party related to the client can also be the victim of an accident during the roofing project.
For instance, the client or their kids could step outside the house when a roof shingle falling toward the ground hits them, causing severe injury. Roofing companies should have liability insurance to protect them from the financial and legal consequences of such an event.
If You Stay Ready, You Won’t Have to Get Ready
The truth is roofing is not the safest job. No one knows what will happen and you need to be fully prepared for any accident or liability by getting roofing insurance.
However, before paying for roofing insurance, you need to put some factors into consideration such as the policy cover cost, the financial abilities of the insurer, and the state of its customer service.