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Roofing Insurance Considerations Guide
Roofing Insurance Considerations Guide
You should be under no illusions; roofing can be a dangerous job. Working at
such heights and often in some fairly extreme conditions means that workers are
put at risk on a fairly regular basis. If a company is held liable for any
injuries or accidents to workers then without worker s compensation insurance
they may be forced to pay out a large amount of money from their own pockets.
For small roofing firms this can lead to financial ruin. Roofing insurance may
cost money but it is a lot cheaper than not having it in the event that you need
it.
Types of roofing insurance
There are basically two types of article that you should consider using to cover
yourself from any accidents or injuries. Workers compensation insurance protects
against any injuries to workers whereas public liability insurance covers
against similar accidents involving members of the public or property that
belongs to someone else.
Workers compensation insurance
Workers compensation insurance is one of the two types of roofing insurance that
you should seriously consider taking out because without it you are in very
great danger of being forced to pay large settlements from out of your own
pocket. If the worst happens and one of your workers is killed through a work
related accident this sum can equate to hundreds of thousands of dollars. The
only way to avoid this is through having workers compensation insurance.
Public liability insurance Public liability insurance is available to
virtually anyone who needs it from cat minders to roofers. As far as roofing
insurance goes this is another vital commodity to your business. If a member of
the public walks into a piece of scaffolding or a shingle you have just fitted
falls off the roof and hits a car you are responsible for paying damages and the
cost of any required repairs. In some cases this can amount to very large
amounts of money. Comparatively speaking the monthly premium you will be
required to pay is virtually nothing.
Bring down the cost of your roofing insurance.
If you are concerned about the cost of roofing insurance then you may want to
consider joining a buying consortium of sort or another. If you are already a
member of a trade organization you may find that they have negotiated excellent
deals on all aspects of roofing insurance and taking advantage of these deals
can save you a lot of time and quite a lot of money.
Buyers should find out what roofing insurance a firm has.
If you are a consumer looking at having a new roof fitted then you should always
check any potential roofing company to see what forms of roofing insurance they
have. You should know that because the price of roofing insurance can be quite
high some roofing firms have now taken to using a general contractor s insurance
policy. If the roofing firm you use cause any accidental damage to your house or
anything in or around it then you can only be sure that you will be covered if
they have roofing insurance. Roofing insurance firms will pay out quicker and
easier than if you have to rely on the roofing firm themselves to compensate you |
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