Maine Roofing Contractors Insurance

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Maine Roofing Contractors Insurance: An Essential Part of Risk Management

Every responsible contractor has a thorough risk management plan. And because two of the major risks of roofing are employee injuries and property damage, workers’ compensation insurance and general liability insurance are two of the most important policies you need.

Don’t just choose the first policy you find, though. Some policies offer very little coverage. Others charge far too much. You can count on Affordable Contractors Insurance to find you a great policy for the right price. But why do you need insurance in the first place?

Commercial Roofing Insurance in Maine: Protecting Your Company’s Finances and Reputation

Many contractors have found out the importance of insurance the hard way. Let’s say you’re an uninsured contractor and you accidentally drop a tool on an unsuspecting passerby. If that person is injured and has medical costs to pay, you will have to come up with the expenses out of pocket.

If you had liability insurance, your insurance would have covered that person’s injury in full. In some cases, that expense is enough to bankrupt a company. The small cost of a monthly premium is negligible compared to the cost of a lawsuit or settlement.

Going uninsured also poses a risk to your company’s reputation. If you have trouble coming up with the money to cover that person’s medical expenses, word will likely get out. At that point, potential customers will be much more likely to work with another business.

The Importance of Regulatory Compliance

Residential roofing insurance in Maine has plenty of benefits of its own. However, depending on the area of the state where you work, insurance may actually be a requirement. Maine does not require roofers to be licensed, but if you go the extra mile and get insured, you can show clients that you run your business responsibly.

If you work in a jurisdiction that requires insurance and you’re found to be working without it, you run the risk of legal action and sanctions. If you aren’t sure what regulations apply to your business, our knowledgeable agents can verify requirements and help you choose a policy that fulfills all of them.

Depending on your exact location, you may need some or all of the following types of insurance:

  • Liability insurance
  • Commercial vehicle insurance
  • Surety bonds/contractor bonds
  • Workers’ compensation insurance

Surety or contractor bonds are another type of insurance that pays your customer if your company does not complete a job. It adds an extra layer of security for customers and may make them more likely to choose to work with you.

Once you have Maine roofing contractors insurance, you also will be able to easily obtain a certificate of liability insurance (and other insurance types if applicable). It’s a quick and easy way to show your potential clients that you (and their property) are covered in the event of a mishap.

Get Your Maine Roofers Insurance Coverage Sooner Rather Than Later

If your business is already up and running, it’s important to get a policy quickly. Most ACI customers are happy with the insurance they find with us: a full 96.4% of them stay year after year. If you contact us for a free quote, you can get your policy number today!

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