To make sure you pick the right contractor for the job, we strongly recommend that you choose a contractor that carries commercial general liability insurance of at least $1 million. Why? The answer is pretty straightforward: we don’t want you to get the wake-up call of a lifetime if you choose a contractor with insufficient coverage.
Not too long ago, insurance company The Hartford reported that 4 out of 10 small businesses are very likely to have a general liability claim (or a property damage claim) filed within the next 10 years. Since we’ve been operating in the commercial roofing business for well over a decade, we’ve seen far too many businesses suffer through years of legal troubles over insurance disputes. Also, we need to point out that The Hartford reported that 35% of all general liability claims lead to a lawsuit.
Before you choose a commercial roofing contractor, our recommendation is to compare at least two bids for your commercial roofing project. Equally important, we recommend that you verify the limits of the general liability coverage each bidder carries.
In California, the law does not require contractors to carry a minimum amount of insurance, but for most business owners, the actual damages from a lawsuit may cost much more. We suggest that you look for roofing contractors with commercial general liability insurance products because these policies tend to offer better coverage for business owners than bargain, bundled liability policies.
We’ve heard more than a few horror stories of contractors carrying insufficient insurance coverage. To keep you from making this mistake, we strongly recommend that you choose roofing contractors that carry commercial general liability policies with at least a $1 million coverage limit.