If you are in the roof installation industry, you most likely know that it is one of the jobs that has several risks. These range from occupational hazards to errors, which could lead to structural damages. And the worst thing is that some of these risks could drive you out of business if they are not managed well. With this in mind, it is vital to have adequate insurance cover. This way you and the property owner will have a peace of mind knowing that financial liabilities will be taken care of in case of any damage or injuries. Here are some of the reasons why you need Roofing Contractor Insurance In California.
First, you need to cover yourself and your team against injuries that may occur while handling a roof installation project. If you employ other technicians in your business, then having adequate cover will ensure that you are save from financial and legal liabilities that may arise as a result of injuries sustained in the course of duty. The cover will take care of the medical charges for treating the injuries as well as compensate them for partial loss of income when they remain paralyzed for a longer time.
A roofing employee cover saves you from professional liability. Since the roof is one of the integral parts of the building that offer defense against nature, it, therefore, means it attracts higher risk. When you are insured, you are covered against negligence, omission, errors or even work done by other contractors that could have made the roofers work more difficult thus resulting in damages. On top of this, you are covered against any liability in case the roof is damaged by your staff.
There is a chance that your roof installation project may cause damage to third parties, for instance, other people properties. So, when you are insured, you will save yourself and the property owner from getting into trouble. The fact that roofing tools and material are not cheap, so you need them insured as well.
In addition to the above, workers compensation is a requirement by any employer in the state. So, if you do not have workers compensation cover, then you risk losing the corporate legitimacy, talented employees, and business deals as well. Other contractors and insurance adjusters will not likely to recommend your business when you are not insured.
Apart from losing credibility, you can also be penalized for failure to follow the law. This can even get worse if an employee is injured while on duty and you fail to meet the financial and medical obligations as required by the law. If the employee chooses to sue the project owner, that will paint a negative picture of your firm. Such shortcomings can provide an edge to your competitors.
Given the nature of roofing jobs, you should always plan with worst scenario in mind. In this case, you should understand that damages or emergencies could mean the end of your business if you are not adequately covered against various risks.
Depending on the size of your firm and the type of projects that you handle, you can get a customized cover at affordable rates. In some cases, you can even lower the premium by choosing options such as bulk payment as long as you do not leave anything uncovered.