Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Illinois Roofing Insurance
Illinois Roofing Insurance. Roofing contractors install, repair, and re-roof residential and commercial structures. Installation of siding, gutters, or insulating material, or minor incidental repair of chimneys may be a part of the operation. Roofs may be flat or pitched, with the roof covering made of asphalt shingles, clay tiles, gravel, metal, slate or stone, sod, solar panels, thatch, or wood shingles. Typically, a roof consists of a decking, often made of wood or metal, on top of which the covering is installed.
Flat roofs may be "built up" from several layers of asphalt-laminated felt covered by asphalt and gravel. Hot tar or other adhesive may be used to join the roof covering to the decking. "Flashing" made of sheet metal is installed at corners and joints or around chimneys. Regardless of the covering, the roof should resist algae, hail, and wind damage, support the weight of ice and snow in colder climates and be watertight.
As a roofer or roofing contractor, you face numerous risks each day. Just one accident on a ladder or atop the roof of a client can lead to devastating injuries that might even cause you to lose your income. Roofing is a dangerous occupation. Around 29.9 deaths are reported per 100,000 full-time roofers, making it the fifth most dangerous construction jobs and two times the average rate of accidental death from all construction-related occupations. Around 50 roofers are fatally injured each year, mostly from fall-related injuries.
In addition, you are at risk of damaging clients' property or damaging your own equipment while you work on the job site. Further, if you have employees or hire subcontractors, you may find yourself facing liability due to their actions.
Illinois roofing insurance protects your business from lawsuits with rates as low as $197/mo. Get a fast quote and your certificate of insurance now.
Insurance for roofing contractors comes in several different iterations. The coverage that you need specifically depends on your Illinois roofing insurance business and whether or not you have employees or subcontractors working for you, either part-time or all year long. In colder areas of the country, roofers may only work a partial period of the year, devoting the colder periods of the year to other types of work.
Some Considerations for IL Roofers
Because your business is as unique as you are, the coverage that you need for your portfolio of Illinois roofing insurance products should be customized to your needs. Some types of business insurance that roofers should consider include:
- Coverage for general liability. This handles claims for damages and ideuries that result from mistakes or accidents while you or your employees perform plumbing services.
- Coverage for property. This covers damage to your tools or equipment.
- Coverage for income loss. This insurance kicks in and pays if your business experiences a work stoppage, so you can stay in business and keep moving forward.
Other Coverage Types For Roofers To Consider
These are not the only types of coverage that you need. You should also look for more extensive, broader coverage to completely ensure that you're protected from financial ruin. For instance, you might want to add:
- BOP insurance. Business owner's policies, or BOP policies, combine the Illinois roofing insurance coverage types you need into one policy. Oftentimes, there are discounts available for bundling coverage.
- General liability insurance. This type of insurance covers any third-party property damage and bodily injury to people who don't work for the business.
- Worker's compensation insurance. Worker's compensation insurance provides employees with benefits if they are involved in accidents on the job or become ill or die while working. There are state restrictions regarding worker's comp; business owners should check IL state labor board to determine whether or not they must purchase this insurance and the regulations surrounding its purchase.
- Professional liability insurance. If you regularly consult with clients or recommend specific products to customers, then you should purchase this type of insurance. This insurance protects your business from legal claims if your recommendations or advice cause the client to experience a loss or damage.
- Commercial vehicle insurance. All IL vehicles utilized in your roofing business should be covered under commercial vehicle insurance, including any cars, trucks, SUVs, vans, or trailers.
- Product liability insurance. Protect yourself from liability if you sell products as part of your roofing business.
General Liability for Roofers
A general liability insurance policy for roofing businesses usually has six components, including:
- Bodily injury coverage. This Illinois roofing insurance coverage type is essential for covering damages of people who are physically harmed at your business or if an employee causes injury on the jobsite to another non-employee.
- Commercial vehicle coverage. This coverage types is like a personal auto policy, but it protects your business' cars and other vehicles.
- Advertising injury coverage. This type of coverage protects your IL business from claims from customers due to services or products advertised by your business.
- Independent contractor's liability. This coverage type protects you from claims arising from the work of independent contractors that you employ.
- Medical payment coverage. This coverage type covers any medical expenses incurred when someone is injured on your business' property, and it pays regardless of fault.
BOP Policy for Roofers
A BOP policy is ideal for small roofing businesses with revenue that is less than $5 million annually and with less than 100 people on staff. This Illinois roofing insurance policy combines a general liability policy with some other types of coverage. Typically, this includes property damage coverage and coverage for loss of income or business interruption. For self-employed roofers or roofers without payroll expenses or who do not lease or own the building in which they do business, a lower level of coverage may be suitable.
Other Coverages For Roofers
In addition to the coverages mentioned above, some roofers may want to get a more extensive policy with riders that are purchased with a policy or as standalone policies. Roofers may consider tools-and-equipment floaters. This can add on to the additional property damage coverage your business holds. This coverage covers owned or lease equipment or tools. Another option is inland-marine coverage. This coverage protects your equipment and tools in transit between jobsites.
IL Roofing Contractor's Risks & Exposures
Premises liability exposures at the contractor's office or shop are generally limited due to lack of public access. At the job site, tools, power cords, and scrap all pose trip hazards even when not in use. Roofing materials or tools and equipment dropped during operations may cause serious injury to occupants or passersby or serious property damage.
Wind or weather may damage the unfinished portion of the roof or the interior of the building during the installation process. Repair or installation using hot tar may be a fire hazard to the building being worked on or to neighboring structures. Roofing materials in the open may create an attractive nuisance hazard to children who enjoy climbing.
Completed operations liability exposures arise from collapse, leak, or wind damage to a roof that has not been installed or repaired properly. Gradual seepage of water can cause mold or rot within the structure itself. Quality control and experience are important issues to evaluate. Hazards may increase in the absence of proper record keeping of work orders and change orders, as well as inspection and signed approval of finished work by the customer.
Environmental impairment liability exposures are from the disposal of old roofing materials and the disposal of waste tar, asphalt, sealants, and adhesives due to the potential for contamination of air, ground, or water. Removal of asbestos tiles may be a concern; although the asbestos in tiles is typically non-friable, (it does not readily crumble and become airborne). Proper written procedures and documentation of both the transportation and disposal process are important.
Workers compensation exposure can be severe as work is done above ground. Workers can fall from roofs due to tripping or from sudden changes in the wind or weather. The exposure increases if the roofs are pitched rather than flat. They may also be injured by falling objects. Common hazards include back injuries from lifting, cuts and puncture wounds from trimming the flashing and other materials, foreign objects in the eye, and work with hand and power tools. The application of hot tar and asphalt can result in burns and eye, skin, and lung irritations.
Property exposure at the contractor's own location is generally limited to those of an office, shop, and storage of materials, equipment, and vehicles. Ignition sources include electrical wiring, heating, and air conditioning systems. Solvents, chemicals, or sealants used to install roofing may be flammable, requiring proper storage and separation from combustibles.
If repair work on owned vehicles and equipment is done in the building, fire hazards may be high due to the presence of oils, fuels, and other combustibles. When hot built-up roofing is done, any preparation work with hot tar and asphalt heated at the yard site increases the fire potential for both the insured and to neighboring properties. Equipment, materials, and supplies stored in the yard have higher exposures to wind, vandalism, and theft.
Crime exposure is from employee dishonesty. Background checks should be conducted prior to hiring any employee. All orders, billing, and disbursements must be handled as separate duties and annual external audits conducted.
Inland marine exposures include accounts receivable if the contractor bills customers for services, computers, contractors' tools, and equipment, goods in transit, installation floater, and valuable papers and records for clients' and suppliers' information. Contractors' equipment includes hoists, ladders, scaffolding and similar equipment that may be damaged during transport to or from the jobsite by collision or upset, or during setup or use. Building materials and tools may be damaged by dropping, weather conditions, or loss due to theft by third parties or employees.
Business Auto exposures are generally limited to transporting workers, equipment, and supplies to and from job sites. Loading and unloading hazards may be significant due to the weight of roofing materials. If hot tar or asphalt is used, overturn or collision during transport could result in damage to other vehicles. Clean up costs may be extensive. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and the records kept in a central location.
Obtaining Roofing Insurance
Always work with a qualified and reputable agent and company to obtain roofing insurance. A seasoned agent can help you understand the nuances and intricacies of roofing insurance in general and your needs specifically, so you get a policy that's right for your business.
Obtaining Roofing Insurance
Always work with a qualified and reputable IL agent and company to obtain roofing insurance. A seasoned IL agent can help you understand the nuances and intricacies of Illinois roofing insurance in general and your needs specifically, so you get a policy that's right for your business.
Illinois Economic Data & Business Insurance Requirements
For moguls who are thinking about conducting business-related affairs in Illinois, it's important to have an understanding of the state's economic outlook. It's also a wise idea to familiarize yourself with the regulations regarding IL commercial insurance.
Here we provide some insight regarding the data that pertains to economy of Illinois. We also provide a brief overview about the types of commercial insurance coverage business owners are required to invest in, or should invest in, even if it isn't mandatory.
Business Economic Trends In The State Of Illinois
According to several reports that compile the economic data for each of the 50 states and compare that information to the national average, Illinois isn't in the best position. While there has been some improvement, the gains have only been slight. Income and employment rates have risen, and the housing market has increases; however, the gains in these areas have been minimal, especially when compared to the gains that other states have experienced.
While the unemployment rate has improved, falling to 4.8 percent in 2017 after it was stuck at a rate of almost 6 percent in 2016 and 2015, it appears that in reality, the IL labor force and employment gains are contradicting. In 2019, tens of thousands of people fell out of the state's labor force.
Looking to the future, it is predicted that while the employment rate in Illinois will grow, the rate at which it will grow will be much lower than the national average. Currently the projected annual job growth of the state is .5 percent. Following are some of the largest industries in IL.
- Service Industries
Illinois Commercial Insurance Regulations
The Illinois Department of Insurance regulates insurance in IL. Businesses are required to carry workers compensation insurance. Workers comp is mandatory for any business that employs either an hourly or a salaried workforce, even if that workforce is just one person. Organizations are also required to carry IL commercial auto insurance if they use vehicles for any business-related reasons, such as deliveries, transport, or client visits.
General liability insurance is not required, nor is commercial property insurance; however, it is a wise idea for companies to invest in this type of coverage, as it will safeguard from lawsuits or losses that their properties could sustain.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Builders Risk
- Cable And Satellite TV Installer
- Concrete Contractors
- Contractor Liability
- Demolition Contractors
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Excavation Contractor
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Framing Contractor
- Garage Door Installer And Repair
- Glass Contractor
- Glazier Insurance
- House Cleaning
- HVAC Contractor
- Janitorial Cleaning Services
- Lawn Care
- Masonry Contractor
- Plastering And Stucco Contractor
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Security Alarm
- Siding Contractor
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Swimming Pool Contractor
- Tree Trimming
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
If a contractor wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Many contractors do not have the usual location-specific buildings and business personal property exposures. Their business property is more mobile and, therefore, better covered with inland marine coverage forms. However, for those larger contractors that own buildings and/or maintain business inventory there are many coverage forms and choices available to them.
Contractors use their vehicles to get to and from their workplaces and jobsites. They also use vehicles to transport equipment and inventory to those locations. It is important to cover the liability of these vehicles for injury or damage they may cause, as well as to provide coverage for damage to the vehicles themselves.
Employers are required to provide coverage for injuries sustained by their employees while on the job. Contractors must comply with these requirements but some try to avoid them by hiring subcontractors. These subcontractors may actually operate and qualify as employees. The relationship between a contractor and its subcontractors must be carefully evaluated in order to determine if workers compensation coverage is still needed.
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.