As roofers, you have roofing insurance, which encompasses workers’ compensation and general liability. Both workers compensation and general liability provide exceptional protection against worker injuries and customer claims. However, it’s good to be aware of the myriad of liability and property insurance situations that might befall you, and the impact these mishaps can have on your business.
Burglary & Theft
Burglary and theft rank as the most-perpetrated crimes against businesses, and this type of crime happens to about 20% of small companies. The amount stolen is usually valued in the neighborhood of $8,000. For a roofer, comparing what has been used on the job to what materials were brought to the job each day can reduce pilfering significantly. Background checks can help you avoid hiring individuals, who have committed burglary or thefts in the past. Likewise, having excellent security and material-handling systems can safeguard your business office valuables and roofing materials from being misappropriated.
Water and Freezing Damage
Water and freezing damage comes in second for most frequent mishaps to small businesses by occurring to 15% of companies with a cost on the average of $17,000. As a roofer, you know that excessive snow and ice on the roof contributes to water and freezing damage. Frozen pipes and low temperatures within a building can also generate water and freezing damage. Keeping the thermometer on, protecting pipes and removing snow and ice from the roof can protect your office property in the same way that you would a homeowner’s.
Wind and Hail Damage
Third place for mishaps to small businesses goes to wind and hail damage. As a roofer, your customers are usually on the receiving end of wind and hail damage. However, as an owner of business property, you can also be a victim of this type of destruction. Using measures that you utilize for customers, like removing tree branches and loose shingles can alleviate this situation. Furthermore, protect windows and anchor down any outside equipment or furniture.
Fire strikes 10% of businesses at an average cost of $35,000. Storing your roofing materials properly and away from any flammable substances can help prevent fires. Effective safety alarms and sprinkling systems can also aid in the limitation of a fire damage. Drilling your employees in the proper response to fire situations can reduce casualties and damage.
Customer injury and Damage
Customer injury and damage can be covered by your roofing insurance through your general liability policy. This type of incident happens to 5% of small businesses with a price tag of approximately $30,000. Among the common injuries are stuck-by-an-object accidents. These types of accidents are commonplace in the roofing industry. Ways to lessen struck-by-an-object incidents is by restricting pedestrian traffic around your work area, anchoring your materials, so they won’t slide off the roof and securing equipment in a safe place.
Even though your contractors’ insurance covers most of your work-related liabilities, it’s important to insure your business against other types of calamities.