Falls Aren’t The Only Risks You Face.
In roofing, you face risks every day. It comes with the territory of working up on rooftops. Your business faces dangers as well. That’s why we asked insurance professionals what solutions are available to help your business manage those risks.
General Liability Insurance: Businesses need liability insurance. The policy provides both defense and damages if you, your employees, or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party.
Property Insurance: If you own your building or have business personal property, including office equipment, computers, inventory or tools, you should consider a policy that will protect you if you have a fire, vandalism, theft, smoke damage, etc. You may also want to consider business interruption/loss-of-earning insurance as part of the policy to protect your earnings if the business is unable to operate.
Commercial Auto Insurance: Commercial auto insurance protects a company’s vehicles. You can protect vehicles that carry employees, products, or equipment. With commercial auto insurance you can insure your work vehicles from damage and collisions. If you do not have company vehicles, but employees drive their own cars on company business, you should have non-owned auto liability to protect the company in case the employee does not have insurance or has inadequate coverage.
Business Owner’s Policy (BOP): This packages all required coverage a business owner would need and often includes business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance. Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverages.
Workers’ Compensation: If you have W2 employees, this type of insurance provides wage replacement and medical benefits to employees who are injured while working. In exchange for these benefits, the employee gives up his rights to sue you for the incident. As a business owner, it is very important to have workers’ compensation insurance because it protects you and your company from legal complications. State laws vary, but all require you to have workers compensation if you have W2 employees.
Umbrella Insurance: You may want some additional coverage to supplement insurance policies you already have. This is where umbrella insurance comes into play. It acts as an extension to an existing insurance policy and covers beyond the regular policy. Generally, it is sold in increments of $1 million and is used only when liability on other policies has been exhausted.
You shouldn’t work without safety equipment; the risks are just too great. The same goes for running a business without the right protection. So talk to an insurance professional today. And remember: while Marco can’t help you with insurance, we can help you avoid the risks of using low-quality ventilation and roofing accessories. Just visit MarcoIndustries.com for the best in the business. To contact Marco directly, email or call 1-800-800-8590.