In today"s world it is extremely important as a roofing contractor (slater / tiler / roofer) to take out insurance. Without insurance a customer could sue for negligence and the roofer would not be able to make a claim for insurance. With compensation claims offering "no-win no-fee" agreements and legal expenses cover "after the event" many people who otherwise would not have been able to afford court action now have access to courts. This has led to a rise in compensation claims and without insurance it is to a roofers detriment.

Employer Liability Insurance is compulsory for any roofing company. A roofing company needs to take out liability insurance for roofers. Due to the increase of compensation claims premiums have soared in price and businesses make their prices higher to cover the costs.

Professional Indemnity Insurance protects a workers advice rather than actions. A lot of professional people will have a lower risk of claims being taken due to their actions, but they might be liable if their clients face loss of money due to poor advice given.

Supplemental insurance might need to be added on to any general insurance liability for roofers to ensure the business is protected from risks that are usually excluded.

Roofer’s Liability Insurance is essential to protect the contractor and their company if a customer or employee decides to make a claim for personal injury or property damage. Roofer’s Liability Insurance policy covers any financial loss that has occurred to the business as a result of property damage or injury. It also provides protection if any legal expenses need to be paid.

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Roofer’s insurance is fairly expensive and there are a lot of contractors that try to cheat by not having the correct insurance. If the roofer or contractor doesn"t have liability then the customer could be faced with a lawsuit costing thousands. There are a lot of states that specify that a contractor has to have a policy. There are also states where it is left up to the contractor to decide if to take out a policy or not. Even when it is not a requirement of law it is better for a contractor to have coverage in case there is a personal injury or property damage loss.

The main difference between liability insurance and worker’s compensation insurance is that with compensation coverage the contractor is insured providing the injury was caused as a direct result from the work carried out. With liability insurance, the contractor is insured for any injuries that are not work related. Therefore if the injury happens when the contractor is at the customer"s property but, was not directly related to the work carried out they would be protected by the liability insurance.

The price of workers" compensation insurance is decided by the workers" compensation board in the state that the worker carries out work. Base rates change from state to state, but each state calculates the base rates in a similar way.

The occupational risk classification for roofers differs from state to state. In California roofers have the highest risk whereas office clerks have the lowest. The cost of insurance is higher depending on the occupational hazards of a roofer whereas for an office clerk they are lower.

To work out the base rate for workers" compensation insurance, each classification is translated into dollars and then multiplied by 1 percent per $100 of the entire income for that employee. Workers" compensation insurance varies depending on certain key factors. Perhaps the most important element is the risk element, but if the employer provides health insurance to their workers, costs are usually reduced. Check out Christian Roommate Flatshare