Liability and Insurance
Liability insurance is a necessity for every professional construction contractor. This is especially true for the roofing contractor. Roof work involves a high risk to people as well as potential damage to equipment and property inside the building itself. Liability insurance is important to protect yourself and your business as well as your customer’s interests.
Insurance Requirements
Why Contractors Join Our Network
- Lead Generation
- Mentorship Program
- Complete Training
- Discounted Pricing
- Marketing Support
Premises-Operations coverage applies to property damage and/or personal injury to others that might arise during a roofing application. An example would be the overspray of a cool roof coating onto a parked car, or equipment falling from the roof and injuring a pedestrian below.
Completed Operations coverage applies to property damage or personal injury to others, which could occur as a result of the roofing application after the job has been completed (the policy is kept effective through the term of the warranty).
Acquiring and Maintaining Your Insurance
When acquiring insurance, choose a reputable agent who has previously written policies for roofers, contractors and those in the construction industry and will better understand your needs.
Maintaining your insurance is important. You should keep your policy in effect through the time period of warranties you issue. For example: if you plan to retire from roofing tomorrow, but completed and issued a five-year warranty on a job today, you should keep your insurance policy in effect for the full time period of the warranty.
The amount of insurance coverage needed to protect your business should be assessed on an individual basis. The minimum limits of liability that we suggest are $500,000 Bodily injury, $500,000 Property Damage. Yet, these limits may be grossly inadequate if you take on a large job or a job in which the building’s contents are extremely valuable (example: roofing over computers or other sensitive equipment).
Points Worth Mentioning to Your Insurance Agent
The following points may help your agent better understand your needs as a Conklin coatings and single-ply applicator, resulting in better insurance protection.
- Conklin roofing systems go on cold and can be applied with a brush or roller. If sprayed, this is normally performed with an airless sprayer. No hot material or open flames.
- Hy-Crown is a Hypalon single-ply roofing membrane and Flexion is a CPA single-ply roofing membrane which are, in most cases, mechanically fastened to the roof deck.
