by Marie King
Affordable roofing insurance can help you handle the risks for your company and your roofers because it offers you coverage at a reasonable price, so you can deal with these risks. Roofing is a dangerous business. The statistics below prove how dangerous an occupation roofing is for your workers.
According to the Bureau of Labor Statistics:
Roofing work ranks sixth in the top ten most risky jobs, with a fatality rate of 29.4 per 100,000 employed. Roofers are 5.9 times more likely to suffer workplace injuries than ordinary workers.
The risk in roofing jobs comes from:
Affordable roofing Insurance can help you by providing workers compensation coverage at an economical price. Workers’ compensation will give your roofer access to first rate medical treatment that can prevent serious injuries from becoming fatal or permanent disabilities. This quality care can also shorten time less seriously injured workers are away from their jobs. Furthermore, these workers will receive benefits to compensate for loss salary.
Affordable roofing insurance not only protects your workers but also safeguards your business through general liability coverage. The general liability coverage provided by your roofing insurance is extensive and includes the following:
(For You) completed operations; (For Third Parties) bodily injury, personal injury. advertising injury, medical payments, independent contractors; (For Litigation) compensatory damages, general damages and punitive damages are all areas covered by your general liability coverage.
In a recent article, the Small Business Association stated:
“Liability insurance (also known as Commercial General Business Liability) protects a company’s assets and pays for obligations – medical costs, for example –incurred if someone gets hurt on your property or when there are property damages or injuries caused by you or your employees. Liability insurance also covers the cost of your legal defense and any settlement or award should you be successfully sued. Typically these include compensatory damages, non-monetary losses suffered by the injured party, and punitive damages. General liability insurance can also protect you against any liability as a tenant if you cause damage to a property that you rent, such as by fire or other covered loss. Finally, it can also cover claims of false or misleading advertising, including libel, slander, and copyright infringement.
We live in a litigious society and even if you think you’re unlikely to face a claim, getting insurance is a wise investment that doesn’t cost much – annual premiums range from $750 to $2,000 depending on your line of business and coverage needs. That’s certainly a lot less than the thousands, if not millions, of dollars you may need to spend fighting your case in court.”
Roofing is a risky business. Get affordable roofing insurance, so you can protect your roofers and your business against the hazards your company and workers face.