Northern Kentucky Roofers: Article About Your Roofer, His Insurer and You
Before hiring Northern Kentucky roofers, it's essential that you get a certificate of insurance (COI) from them. If you're not an insurance professional, however, you probably won't know what to even look for on this document. In order to know for certain that you're hiring the best people for the job, it's crucial that you gain a better understanding of this certificate.
The two most essential insurances for you to verify are workers' compensation and liability insurance. Workers' compensation insurance protects workers who are hurt on the job by paying their medical bills and reimbursing lost wages if they need a long recovery period. If your roofer doesn't carry this insurance and one of his or her employees gets hurt on your property, you could be held liable for the worker's medical bills and expenses. You can file a claim through your homeowner's insurance should this occur, but they may not pay enough or at all.
Liability insurance is equally important as it protects you and your property. Your contractor's general liability insurance pays for the damages if roofing debris falls onto your car or breaks a window in your home. If your home or property is damaged by the roofers, the liability insurance will pay to fix or replace what the contractor damaged.
AnyWeather Roofing, roofing contractors of Northern Kentucky would be happy to answer any question you have about roof repair or gutters.
A contractor who doesn't carry liability insurance may not have the cash he or she needs to reimburse a customer for this damage, which could leave you footing the bill for someone else's mistake. Verifying liability coverage avoids that problem. Your contractor should carry at least $500,000 worth of coverage, but more is better, and many carry $1 million in coverage.
When discussing roofing insurance, contractors may tell you that they're bonded. A surety bond is a type of insurance policy that kicks in if the contractor fails to complete the roofing job for some reason. The bond assures that a contractor's suppliers and employees will be paid if the contractor fails to pay his or her obligations for some reason. If your contractor isn't bonded, you could get stuck with these bills if the contractor disappears halfway through the job. Most states require a contractor to be bonded before he or she can hold a contractor's license, but it never hurts to check.
Your contractor may carry other types of insurance as well, but these are primarily meant to protect him or her. Commercial auto insurance protects the company work trucks and vehicles while renter's or building insurance protects the space where the contractor's office or warehouse is located. These types of insurance don't really protect you, but you need to be aware of them. A COI states what type of insurance is provided as well as the dates of coverage, and knowing this information allows you to verify that your contractor truly did hand you a current COI for the proper insurance. Some contractors attempt to pass off outdated COIs or pretend their car insurance coverage is actually workman's compensation.