If you're starting to look for a roofing company to replace or repair your roof, you may find that you're often given the advice to ensure a company is "bonded and insured" before you hire them. On the surface, this makes sense; insurance protect you and the roofing company financially. But in order to really vet those roofing companies properly, it's important that you know a bit more about what bonding and insurance actually are and how they work.
When a roofing company is bonded, this means that they have the cash set aside to cover any damage they cause or any claims you, as a customer, may make against them. Say, for instance, you hire a roofing company to replace your porch roof. Their ladder accidentally falls and bends your railing. A bonded roofing company has the cash on hand to replace the railing.
How do you know if a roofing company is bonded? Usually, if they are, they will advertise this as it is a selling point to customers. However, you should ask to see proof of the bonding. Usually, this proof is provided by a third-party company that holds the bonding money. Expect to see a certificate issued by a bank or insurance company. (Sometimes insurance companies hold bonding money for roofing companies as well as insuring them.)
When it comes to insurance, there are two specific types of coverage that any roofing company worth their salt should be carrying. You should ask to see proof of both. Check the certificate to ensure the policy is still good for the dates the company will be working on your home.
Workers Compensation Insurance
Workers comp insurance covers the roofing company's workers. If one of them becomes injured on the job, this insurance policy will pay for their medical care and lost wages. If you allow a roofing company without workers comp to work on your roof and one of the workers become injured, you could be held responsible for costs related to the injury.
Liability insurance covers any damage done to your property or your person during the roofing project. The roofing company can usually choose to use their bond money or file an insurance claim if such damage occurs. When the damage is above what they hold in bond, the insurance policy will cover it.
Asking to see proof of bonding and insurance is an important first step when considering hiring any roofing company like Eagle Exteriors. Once you've seen this proof, you can move on to considering other things like the company's rates and past work.Share
19 January 2017
When I married my husband 10 years ago, I agreed to move into the ranch home he already owned. Initially, we planned to live in this house for five years and then after a few years of marriage we wanted to buy our dream home. After our wedding, many things in our lives changed. We both got different jobs. And we decided to transform the house my husband owned when we married into our forever home. To accomplish this task, we have begun a major renovation project. The first job on our list was a new roof. On this blog, I hope you will discover the best types of roofs to install on a brick home.