Orlando, Fla.— End of summer through the fall months is usually the busiest time of the year for most roofing companies, according to Angie’s List. As we enter the peak season for businesses in this area, it is important to be aware of strategies to protect your company from its risks. Many considerations are involved in the process of purchasing insurance for your roofing business, from which grade of worker’s compensation is necessary to cover your workforce to whether or not you will require additional insurance, such as professional liability or commercial vehicle insurance.
Before a contractor can become licensed in the state of Florida, they must show proof of obtaining general liability insurance. When you work with smaller clients or private homeowners, be prepared to present your proof of insurance. Offering them proof of insurance and being knowledgeable about their concerns is not only a sound business practice, it’s great customer service. Also, employers conducting work in Florida are required to provide workers’ comp insurance for their employees based on the type of industry
The most important roofing contractor insurance to start with is the general liability insurance, written especially for your risks/exposures and to protect you against a potentially catastrophic loss. This policy will provide financial protection to withstand those risks and exposures.
What are the types of insurance typically used to keep your business well covered?
Under a Roofer Liability Insurance you, any partners if you are a corporation, any executive officers, stockholders and directors are protected if they are sued for an act they performed in an official capacity related to your business. Your employees are also covered.
A General Liability policy will typically take care of expenses like:
- Judgments or settlements from covered lawsuits if your defense is unsuccessful.
- Fees, court costs, witness compensation, attorney’s expenses, the cost of a police report and any other costs related to the lawsuit.
- Your own time dedicated to your own defense.
- Court-mandated bond premium.
- Damage to premises leased by your business.
- In the event your roofing material is found defective or the installation of a roof is sub-par and causes damages, your GL policy will pay out.
- If your business’ advertising libels or slanders a competitor, privacy rights, copy another company’s way of doing business or infringe on another business’s slogan or copyright, your general liability policy will cover claims associated to those actions.
Workers injuries are usually handled under a workers compensation policy.
Complying with the requirements of Florida law is necessary for contractors who want to operate lawfully within its borders and avoid costly fines and lawsuits.
At Garzor Insurance our experienced professionals are dedicated to providing commercial insurance coverage for businesses in Florida as well as Georgia, and Texas. If you have questions about business insurance, or any other commercial insurance aspects, do not hesitate to visit us online at Garzor Insurance, or you may also call us directly at (321) 206-8035.
Mariana Morante
Licensed Insurance Agent
