THURSDAY, APRIL 15, 2021
Contractors face a variety of dangerous risks when it comes to operation and roofing contactors are no exception. If you work on roofs for a living, you could face claims regarding your work or equipment. The amount of insurance you will need depends on the coverage itself and the scope of your business. Contractors who take jobs that are higher risk or expense may need higher limits of contractors insurance.
General Liability
General liability insurance covers claims against you or your business regarding bodily injury or property damage that may occur while you are working. For example, say a client trips over a piece of your equipment while you are working on their house and end up severely injured. General liability insurance can cover the victim’s injuries while simultaneously protecting you against a potential related lawsuit. This insurance can cover costs such as defense fees, settlement expenses and more. 
Workers Compensation
If you work with subcontractors or other contractors, you will likely need workers compensation. Workers compensation insurance covers employees who are injured on the job. If one of your contractors is hurt while working, workers compensation insurance can provide assistance for their medical bills, wage replacement in case they are unable to return to work, disability benefits and more.
Commercial Auto Insurance
Commercial auto insurance covers vehicles owned or used for work purposes. The majority of contractors own or rent trucks and vans in order to transport equipment or travel to work sites. Personal auto insurance may not cover your vehicle if you use it for work purposes, so it is important to consider commercial auto insurance.
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Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the vehicle caused by fire, wind, hail, lightning, smoke, theft, vandalism and more.
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Collision Coverage: Collision coverage provides compensation for damages to the vehicle caused by a collision with another vehicle or object.
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Liability: Liability insurance covers bodily injury and property damage the driver may cause while operating the insured vehicle.
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Medical Payments Coverage: Medical payments coverage provides coverage for medical bills the driver and their passengers may face after an accident, no matter who is at fault.
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Uninsured/Underinsured Motorist: This insurance covers accidents involving drivers who are not carrying insurance at the time of the accident.
Be sure to ask your insurance agent about additional coverage options such as professional liability, umbrella liability and more.
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