One of the biggest challenges in commercial roofing is not just the roofing itself – it’s the risk involved. Let’s say, for example, you are replacing the roof on an accounting office, where there are thousands of dollars of equipment that could be damaged should something like a water leak happen. Not to mention the people involved.
So how do you minimize risk like this? Here are three things to know.
Start with the Risks.
Before you have any repairs done to your commercial roof, sit down with your insurance agent and go over what your risks are. What equipment do you own and what is it worth? How many people do you employ and how may will be on site during repairs? What about customers? How many can you expect? What about loss of business should your office need to be shut down or repairs become delayed or take longer than estimated? What other potential risks can be associated with work done to your commercial property? Answering questions like this will give you a clear idea of what your risks are, and the coverage you will need to protect yourself.
Don’t Mistake Job Size with Coverage Need.
It’s true that larger commercial roofing jobs cost more to do, but that doesn’t mean there is any less risk with a smaller job. Let’s say, for example, that the work you have done to your roof leads to a fire, which then causes you to have to shut your business down for six weeks. In this case, loss of business income is not related to the size of your roof. Don’t ever let a contractor convince you that because your job is on the smaller side, you need any less insurance coverage.
Insist on Seeing the Policy.
Every commercial roofing contractor should have a commercial general liability insurance policy that they have no problem showing you. This policy should cover any and all risks and exposure incurred with your roofing job – most commercial general liability policy limits are $5 million. Your contractor could also have a wrap-up policy which covers just your specific job and the entities involved with it. The advantage here is that all parties are covered on the same policy – which expedites any potential claims. Here again, the policy limit should cover any and all risks you have. Lastly, you, as the business owner, should always be listed as the additional insured on the policy and again, the roofing contractor should have no problem providing this for you.
This article is brought to you by ASAP Roofing, a national roofing company that specializes in commercial roofing, hail damage and roofing restoration. ASAP has offices in Dallas, Texas, and Denver, Colorado.