What Does Roofing Insurance Cover?
Liability coverage can be the most expensive part of your roofing business insurance policy. It protects you against damage to other people’s property caused by your work, including the theft or loss of materials that fall from the roof during construction. Depending on your location and type of coverage, you may be able to combine general liability, commercial property, and business interruption into one business owners policy (BOP). This will be sure to save you some money, especially if you have a small roofing company that doesn’t generate much revenue.
Roofing insurance policies include general equipment coverage, which covers small and large tools, rented, or borrowed equipment, and work-related clothing. It also includes workers’ compensation, which protects you and your employees in case of injury or illness. This type of coverage can be purchased in addition to your regular business insurance policy or as an add-on for a business owner’s policy (BOP). It’s typically the most cost-effective way to buy this essential protection.
Business Interruption Coverage
Business interruption coverage, also known as “business income” coverage, helps to replace a business’s lost income when it can’t open temporarily due to a covered loss. It’s typically included in a Business Owners Policy (BOP) or as an endorsement to commercial property insurance. The policy will usually describe the events that trigger coverage and what types of losses are covered. In general, coverage is triggered by direct physical loss or damage to the insured’s property caused by a peril that is not excluded from the policy. In addition to covering the business itself, some policies will also cover extra expenses that result from the loss, such as paying rent on a temporary location and employee overtime. These costs are often necessary to minimize the time the business is wholly or partially closed and/or to keep the business operating until it’s back to its pre-loss income level.
Blue Peaks Roofing LLC offers comprehensive commercial insurance packages that are designed to protect your business and its assets from the aforementioned hazards. Using a state-of-the-art claims processing system and dedicated insurance experts they’ll help you make the right choice to ensure your property is protected from the elements. they’ll be happy to review your specific business needs and provide you with a free quote. For more information about how you can get the coverage your business deserves, contact them today: https://www.bluepeaksroofing.com/