Proper insurance coverage by the roofing contractor is much more important than you may think. If a fatality or serious injury happens on your roof from one of the crew members, and the contractor has bare minimum insurance coverage, guess who is liable for the remaining costs from the lawsuit? You as the homeowner. It’s not right! These billboard attorneys market for these kinds of claims. They make a killing on these claims, and they can care less who they are negatively affecting.
Ohio’s minimum required insurance coverage is $1,000,000 personal liability per occurrence. These claims usually end up being a few million dollars if an adequate billboard attorney is hired. This is why choosing a contractor who possesses more than bare minimum coverage is extremely important! Although it is less than a 1% chance of a fatality or serious injury occurring on your job, it is something to keep in mind when choosing a reliable roofing contractor in Dayton.
In the last 5 years, there has been a 50% annual increase on insurance premiums for contractors. This increase in premiums has caused 3 things to happen:
The contractor should be up front with you by sharing with you that they have adequate coverage. In your meeting with the salesperson, if they do not show you their COI, it is important for you to ask for it and have them label you as “additionally insured” at the time of doing your project. Remember, proper insurance coverage protects you as the homeowner. Make sure your chosen contractor not only has adequate coverage, but can prove that it is active by labeling you as “additionally insured.” Adequate coverage is normally a $2,000,000 general liability and $4,000,000 general aggregate. If they have more than bare minimum insurance coverage and can also prove it, then this may definitely be a company to consider for your roof repair or roof replacement.