A central part of working as a roofing contractor is being properly insured. In many cases, you will not be allowed to start a project until you verify that you have general liability insurance. Beyond that, the insurance industry is potentially dangerous, it’s critical to be protected in the case of injury. However, this protection comes at a cost. Since the roofing industry is so risky, contractors pay high premiums on their policies. While this is not going to change, there are a few actions that you can take to alleviate the cost. This includes:
Documented Safety Training
Due to the accident rate in the roofing industry, there’s a high value placed on safety programs and training. If you can show that procedures are in place that teach your employees how to safely conduct work, it’s likely that an insurance company will give you a lower rate for general liability insurance. Also, safety programs will help you remain OSHA compliant, which any roofing lawyer in Texas will tell you is vital to your business.
Make Sure that Employees are Classified Correctly
Unfortunately, when a roofing company purchases an insurance policy, all the employees will be listed as “roofers” unless stated otherwise. This will make your insurance much more expensive because of the inherent risks of the job. As with any company, you likely have sales and administrative staff that don’t actually get on a roof. Make sure that you classify all employees correctly. Only roofers should be classified as roofers. This simple act can greatly reduce your insurance costs.
Create a Wellness Program
Similar to a safety training program, a documented wellness program can lead an insurance company to grant a lower rate. The reason? Companies that have employees who exercise, eat healthy foods, and handle stress properly file fewer claims.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.