Is Roofers Insurance expensive?

insurance for roofers
we are insuring roofers

Is Roofers Insurance expensive? Top tips for saving.

How much do Roofers pay for insurance?

A lot!

Even compared to other high-risk occupations, their insurance seems high. Workers Comp rates for roofers can be as much as eight times that of Fire Fighters. They also have higher General Liability rates than other contractors.

High Roofs!  Steep Roofs!  The workplace for roofers is an open invitation to an accident.
The steeper the workplace the steeper the premium. Ask a Roofer!

Why is insurance so expensive for roofers?

If you own a roofing business, then you know that roofing is a precarious business. Roofing is reported by many to be one of the five most dangerous occupations. As a result, insurance companies pay out more and higher claims. To offset the high losses, carriers must charge risky occupations higher premiums.

Gravity or Gravity

Why is roofing so risky? The term “What goes up, must come down,” maybe the best answer to that question. Enhancing roofer safety starts with identifying how gravity increases risk. The following are a few of the more difficult issues to overcome:

Why is roofers insurance high? 
 High and Sloped roofs open the door for gravity to do damage.
Roofing is a Risky Business

· Roofers perform a labor-intensive job in unusual work-spaces

· A floor that has a 25 to 40 Degree slope, and even steeper

· Working as much as 80 feet off the ground

· Falling items can accelerate to a speed of 25 to 30 MPH.

Gravity is also defined as something extreme or seriousness. The Gravity of insuring roofers lies with their work-space.

Roofing businesses attempting to reduce the cost of insurance need a plan.  The best place to start is with better risk management. The following areas provide a good starting point:

· Roofers pose a threat to non-related individuals on the job site at the same time.

· Regardless of weight, falling objects can lead to serious, even life-threatening injuries.

· Potential for increased frequency and magnitude of liability and Work Comp claims.

Is it possible to reduce the cost of roofers insurance?

Yes, it is, and this post aims to point you in that direction. If you think that you can’t save money on insurance for your own roofing business, your wrong.  First of all, there are a handful of insurance companies that do a better job with the industry.  As a result, they often have lower premiums that their competitors.  Actions on your part can also have a substantial impact.  Risk Management offers another route for roofers to save on insurance.  Taking an active role in the process will eliminate or reduce certain risk.  The long term impact should reduce insurance claims.  There is also a positive impact on the roofing business via lower-cost insurance.

The nature of the industry demands attention to detail.  Ongoing risk awareness is critical.  Business owners should leverage this knowledge into constantly improving safety protocols.  Failure to do so will increase the potential for injuries and property damage.  As a result, there will also be upward pressure on your insurance premiums.   Poor Risk Management is negative for any business.  But for industries considered to be high-risk, like roofers, the impact is even worse. 

Insurance is only one part of risk management

Five primary strategies which Individuals and Business use to manage risk:

· Risk Avoidance More attractive than practical, this effort attempts to eliminate risk.

·  Risk Transfer Insurance: Insurer indemnifies consumer in exchange for a premium.

·  Risk Reduction Limiting risk by altering processes, procedures, or equipment.

·  Risk Retention Consumer retains all or a portion of the risk.

·  Merged Strategies Combining two or more of the above.

Buying high deductible insurance combines risk transfer and risk retention.

Insuring everything isn’t an option for most. Even for those that can, it isn’t the most optimal solution. It is often more cost-effective to manage risk using one of the other risk management strategies. One example of this has been a dilemma that roofers have been faced with.

In recent years, Kentucky Roofer’s insurance claims have been higher than expected. The weather played a role but in this case, discrepancies go beyond the actions of Mother Nature.

The culprit: Nail Guns!

As roofers have transitioned from hammers to nail guns, problems soon followed.   Shingles were blown off shortly after new roofs were installed.  Often under fairly modest wind conditions.  A growing stream of adverse reports followed.  With product lives nowhere close to advertised, the problem had to be found.  In the end, the finger of blame was pointed at roofers.   Specifically, those using nail guns.  

Problems with nail guns were soon seriously scrutinized by everyone.  From Insurance companies to Angie’s List. The issues were simple.  Should roofers use nail guns? If so, then what could roofers do to reduce losses?

There is little doubt that there was a strong preference for the use of nail guns. At least from the vantage point of roofers.  There has also been awareness of the losses.  Especially by those in the insurance industry and dissatisfied homeowners.   What would be done if the rising loss trend could not be turned?  If not and if roofers continued using guns, would insurance costs rise for roofers?

How much would insurance premiums go up for roofers?

The answer.  The roofing industry would soon see tremendous rate increases for General Liability Insurance.

Insuring the risk associated with the use of nail guns was not an optimal solution. To continue using them, the industry had to rein in claims associated with nail guns. 

The Answer, a Risk Management Process

Risk Management Process

1. Research and Identify Risk

2. Risk Analysis and Evaluation

3. Risk Remediation

4.  Ongoing Monitoring

When a roofer misses the reinforced nailing strip it reduces the shingle life.
Nail missed shingle

The risk identification and analysis indicated the following issues:

• Proper nail gun pressure-DO NOT tear through the shingle

• Nails must be driven through the tar line.

• Nail flush to the shingle

• Adjustments to equipment settings for inter-day changes in the ambient air temperature.

• Experience is always important. We become more discerning when insuring roofers using nail guns.

Risk Reductions, a Path to Reducing the Cost of Insurance

Incorporating the Risk Management Process leads to a positive outcome.  It created a path for the continued use of roofing nail guns. Raising awareness of the associated problems, roofers could implement effective new work processes. These changes would put the industry on a path to significantly reduced claims.

With shingles under control, customer satisfaction should notably improve. Better roofing jobs will also get the attention of the insurance industry. With fewer claims, it’s fair to assume that losses are declining. In a vacuum, reducing losses should put downward pressure on insurance premiums.

We started this winding path with roofers trying to use roofing nail guns.  Roofers using nail guns were aimed at increasing efficiencies and reducing cost.  A noble goal.  A goal achieved by understanding that insurance isn’t the only tool for managing risk.  An achievement delivered when industry partnered with insurance to create a common goal.    An achievement born by the willingness to reduce risk has improved an industry.  Roofers and insurance working together have increased efficiencies and cost savings a reality.

Earthquake Insurance, Sinkhole Insurance & More

Do you live in an earthquake zone?  Do you have earthquake insurance?  If you don't know, call TruePoint at (502) 410-5089
US Earthquake Zones

Words and their usage impact our daily lives. As a kid, my mother would on a regular basis reminding me to watch my P’s and Q’s. This was not a suggestion to be on my best behavior. It was a threat that even the slightest slip in my manners would have severe repercussions. What and how we say things have been an issue for generations. But a solid case exists that communication is more important now that ever before. While the thought may seem hysterical at first, let in sink in for a moment. Most would agree that America has become precariously litigious. For years our actions have exposed us to constant risk. Today our words are placing us at jeopardy. As a result, it has become critical for Americans to develop greater awareness.
What is earthquake insurance?.

Standard insurance doesn't cover loss due to earthquakes.  Earthquake Insurance is add by endorsement.
Earthquake Damage


Earthquake – a term used to reference the movement of two tectonic plates along a fault line. The tectonic plates move past each other at a slow pace building up stress along the way. This continues until finally the plates slip releasing enormous amounts of seismic energy. This energy then results in a violent shaking of the ground. This is also referred to as an earthquake. Earthquakes can be the result of both tectonic action or volcanic.
The word Earthquake seems simple enough. But it isn’t. Your insurance policy most likely excludes loss caused by the movement of earth. How does that impact me? Ground that shifts, sinks, expands, contracts, or rises may create serious issues. That includes earthquakes, sinkholes, mudslides, landslides, and more. How serious? Your insurance company “Will Not Pay, Serious”! You can avoid this crisis by simply having the proper endorsements. But be cautious. You can purchase an earthquake endorsement. But what will it cover? Losses due to an earthquake! Nothing else. Related risk such as mudslides, sinkholes, and others are not covered. Failure to understand how this impacts your insurance may result in serious coverage issues. Failure to understand may result in no coverage.

Movement of earth is not covered by standard insurance.  That includes earthquakes, sinkholes and several more items.
Sinkholes are covered by standard insurance policy


Will your insurance pay in the event of an earthquake? Does a Homeowners policy or a Commercial Property policy protect against earthquakes? Earthquake coverage is not offered by a standard insurance policy. But, for most, earthquake coverage is available. It can be in the form of an earthquake endorsement. If asked to waive your right to earthquake coverage, we suggest that you ask the agent for a quote. It may not be as expensive as you think.
Most of us are insured by the Special Form, also known as All Risks Coverage. Earthquake protection is excluded by the Covered Causes of Loss Form. The exclusion reads so that damages that are a result of EARTH MOVEMENT are excluded. Inquire about the cost of an earthquake endorsement. With the in hand, you can now decide if you want to transfer the risk. In the process don’t forget the other risk associated with earth movement. The earthquake endorsement doesn’t cover these. We advise customers to consider each of the risks and if appropriate, evaluate the risk/reward.

What about hidden damages?  Are minor damages covered?  They are, but deductibles may be more than the loss.
Check your Deductibles for Earthquake. They will be higher than you are used too.

ance varies from one insurance company to the next. If you make a comparison for companies, you will find earthquake policies vary. If you have multiple homes in various states you should review individual policies. We advise this as earthquake endorsements issued by the same company may vary from one state to another.
Earthquake deductibles should be considered. Don’t be surprised to see a 10 to 20% deductible. These are pretty much par for the course. Any higher and it is probably worth your time to shop around.
As noted earlier, earthquakes represent only a small portion of the exposures related to the movement of earth. Because we live in the Ohio Valley, we can shorten the list. While anything is possible, most would agree that some of the risks aren’t as threatening as others. The risk that should be considered by most in our area:

  • Erosion,
  • Failure to suitably compact building sites,
  • Sinkholes
  • Deficiencies pertaining to site selection
  • Earthquakes
  • and Landslides

Add in mud-flows, mudslides, and volcanoes and we have a reasonable understanding of the movement of earth risk. Kentucky homeowners and business owners need to consider these and several other forces.
Standard policies may leave serious gaps. Property coverages leave most structures exposed the movement of earth. Don’t assume that your only option is to self-insure. Ask TruePoint. By asking the simple question, “how can I eliminate more exposures related to the movement of earth?” You will likely find that in some cases, options exist. Becoming increasingly more available is sinkhole insurance. Broader coverage in the form of earth movement riders may also be an enhanced risk transfer option.
If you would like to learn more about eliminating insurance gaps related to the movement of earth, reach out to a TruePoint Insurance Agent. We can be reached at (502) 410-5089.

What is Contractors Errors & Omissions Insurance

Are you an artisan contractor that doesn't have Contractors E&O insurance?  You may have gaps in your coverage.
How bad are the gaps in your insurance?

The Commercial General Liability policy leaves several liability exposures for contractors.  The General Liability policy doesn’t cover faulty work due to negligence, or to damages to the work of the contractor.   

Contractors E&O has been already, but until recently, only limited options existed.  Contractors now have access to reasonably priced insurance that closes some very significant gaps.

Snapshot: Insurance for Plumbers

We repair what your husband fixed! #Plumbers Lives Matter

Insurance is a critical part of any small business.  It protects customers, employees and your business when things go awry.  Plumbers and other Artisan Contractors use insurance.  There are multiple forms of Liability insurance.  They can protect employees, clients or others that come in contact with your efforts.   Contractors that own buildings or business personal property can utilize Commercial Property Insurance.   Several construction-related trades, including plumbers, are subject to state licensing requirements.  Part of the licensing process is to provide proof of insurance.

Commercial Insurance Snapshot:

Plumbing Contractors

Most contractors, including plumbers, have Commercial General Liability policies. The policy which is often referred to as CGL or GL protects when your actions cause bodily injury or property damage to another.  These claims are normally settled by financial restitution to the damaged party.  However, when necessary the insurance company may provide legal defense.

In order to be licensed as a plumber in Kentucky you will need to provide proof of insurance.
Plumbers need insurance.

Property insurance is another common form of coverage. This would be a recommended coverage for plumbers that own a commercial building.   The Commercial Property Policy will also provide protection for business personal property. Covered items

Include office furniture, equipment, machinery, inventories, and more.

Business Income insurance protects you and your business.  Following an insured property loss, the coverage provides financial restitution to your business.  A portion of  the  lost income will be covered during the term defined by the policy. 

The policies above may come as standalone policies.  But most small businesses can package the coverages with significant savings. The packaged policy is referred to as a Business Owners Policy or BOP.

Do you have Plumbers Errors and Omission Insurance?  We highly suggest that you take a few minutes to consider it!
Plumbers need Contractors E&O Insurance

Other coverages used by plumbers include:

• Commercial auto insurance: Business Vehicles

• Inland marine insurance: Property that moves from one job site to next

• Installation floater insurance: Installed, Fabricated or Erected

• Workers compensation: Covers employees’ medical costs and lost wages

Contractors E&O, it’s now more available, but still underused

Construction trades need to consider Contractors E&O.  It fills a lot of gaps with the largest being insurance for negligence of the insured.
Are you insured for Negligence?

Contractors Errors & Omissions insurance (Contractors E&O) is a form of liability coverage. The coverages can be crucial to many contractors, including plumbers. It is designed to protect from potential liability exposures arising from alleged negligence.

It covers the work of the insured, yours, which is something that would not be covered by the CGL policy, is now covered.

Why haven’t I heard of Contractor’s E&O before now?

Errors and omission coverage has been around for a long time. However, they have focused on the service sector and health care businesses.  Real estate agents, and insurance agencies are examples of professional liability insurance users.

Another example that most have heard of is Medical Malpractice.

What is contractors E&O?  It is somewhat akin to Medical Malpractice.  It covers negligence and work of the insured..
Medical Malpractice Insurance

 It is professional liability insurance for Doctors, Hospital, and other medical sectors.

Professional liability insurance has been around awhile.   it has not been widely available to small contractors. That’s due to the relatively low number of insurance companies willing to write the exposures. 

Contractors E&O insurance has major gaps. The same is true regards General Liability. Put the two together and watch the gaps disappear.

With a mature market, there is no longer an excuse for retaining negligence related risk.   Quality coverage at affordable premiums makes transferring the risk a relatively simple decision. Now plumbers, electricians, and several other specialty contractors can better manager their Liability exposures.

Why do small contractors need Errors & Omissions coverage?

What will you do if your insurance agent suggests Contractors Errors & Omissions coverage?  I would suggest that you listen. Before looking for excuses and justifications for not buying, listen!  If you do, there is a very good chance that you will be thanking your agent when you’re done.

Adding Contractors E&O fills a large number of gaps in your General Liability policy.  This alone makes the E&O attractive.  But don’t forget, we live in a litigious world.  We are all one bad day from having your world turned upside by a customer lawsuit.

Commercial Insurance


Commercial insurance is defined as:

definition, define, define insurance, define commercial insurance, define business insurance,
Define Commercial Insurance

The definition of business insurance will likely vary depending on who you ask. The explanation may even change depending on how you ask it. It goes by a lot of names. You may hear it called many things. Business insurance, commercial business insurance or property & casualty commercial insurance.

TruePoint insurance defines commercial insurance as:

Insurance coverage for businesses that provides protection against a broad range of P&C claims. The term commercial insurance is used to describe several insurance policies. To determine which you need, you should, first, determine the risk faced by your company. A commercial insurance policy should also provide defense cost in the event of a lawsuit. This protection should be available regardless of the legal merit of the case.

TruePoint doe commercial insurance call us to speak with a business insurance specialist
we are insuringky.com

What should your Business Insurance Policy look like?

commercial insurance, TruePoint specialized in commerical insurance in Kentucky,  AKA Kentucky Business insurance
Business Insurance Policy

We stated the definition of commercial insurance might change. The truth is, it will change. The answer will vary based on who you ask, and maybe how you ask. Who you are will also alter the definition……… What type of business do you own? Do you have employees? Do you use vehicles in your business? Do you own buildings or other property? Do you need commercial insurance? These questions are just the beginning of defining your unique commercial insurance needs.

Property and Casualty Insurance

The term commercial insurance policy defines a vast range of coverages. Each offers a vehicle that provides specific protection to your business.

We can start by breaking insurance into one of three categories, Property, Casualty or both. The property will relate to (buildings, furniture, inventories, vehicles, and equipment.) The Casualty coverages protect against liability claims. Coverages include General Liability, Workers Compensation, Professional Liability, and many others. Most small businesses will find the third option most attractive. A Business Owners Policy or a BOP.

The benefit of the BOP is that it packages the general liability and commercial property. The packaging allows for more efficient and effective coverages. As it relates to Kentucky Business Insurance, BOP’s provide more coverage at less cost.

Knowing the coverages you need is more than half the battle

Business insurance is written in five major coverage lines. These lines are identified and briefly described below:

Commercial General Liability Insurance (or CGL) Protects when actions of the insured or an employee lead to property damage or bodily

Commercial liability insurance in Kentucky is most often referred to as General Liability insurance, commercial general liability insurance or CGl. GL.
Commercial Liability Insurance

injury of another. The policy should also provide coverage in the event the business must defend itself in a court of law.

Commercial Property Insurance The primary target of this coverage is owned and possibly leased buildings. In this section, you will also find coverages for the business personal property. This includes furniture, inventory, tools, some equipment and more.

TruePoint Insurance, Specialist in Kentucky Commercial Auto.   Need Business Auto insurance in Kentucky?  Give us a call 502-410-5089
Business Auto Insurance

Commercial Auto Often referred to a Business Auto it covers vehicles that are owned or leased by the company. As a personal auto policy does, the Commercial starts as liability coverage. Comprehensive and collision coverages can be added, as well as other additional items. A good example of a valuable add-on is a coverage know as hired or non-owned. It provides protection to an employee or volunteer autos during work-related activities.

Inland Marine Insurance One use is equipment or mobile equipment operated off-site known as commercial floaters. There are many more coverages that fall into this section.

Workers Compensation used to provide financial remuneration to employees injured while performing work-related activities.

There are many more coverages, most of which fall under one or more of the primary lines above. A few examples include:

  • More specialized liability coverages include:
  • Professional Liability or Errors and Omissions (E&O)
  • Garage Liability a form of CGL for auto garages, shop, dealers and more
  • Directors’ and Officers’
  • The property section contains many optional coverages and endorsements. What if any of it do you need? Including items such as
  • business interruption (aka business income),
  • earthquake coverage
  • flood insurance
  • water backup
  • utility disruption,
  • equipment breakdown and many more.
  • Trucking insurance is an example of a specific form of commercial auto insurance. Another form that we often see business auto insurance is referred to as hired and non-owned.
  • inland marine is our all other buckets. Below are just a few examples.
  • Bailee’s Coverage– Property of others under your temporary care. Think about a Dry Cleaner. Do they have coverage clothing? That’s Bailees.
  • Builder’s Risk- Insurance while a building or home is under construction.
  • Cameras
  • Communication equipment and towers
  • Computer Coverage
  • Contractors Equipment
  • Commercial Floaters
  • Property In Transit
Don't drive past Kentucky's Elite Business insurance agent,  Commercial insurance at 1085 Eagle Lake Dr, Lawrenceburg, KY  40342
Commercial Insurance

Identifying risk and understanding coverages

For centuries mankind has solved problems by finding solutions or answers to our questions. While it’s great to have a trusted resource or go to for every issue, there are times in life where we are on our own. When this happens, logic and common sense will go a long way.

If I don’t own a building do I need property coverage?

You might. Do you have an inventory or equipment that should be insured? Even if you don’t own a building, you still might need to insure one.

Does your lease require you to insure the building?

My business is family owned and operated; everyone that works here is related to the owner, me, the owner.

Do I need workers compensation insurance?

Kentucky business owners have the right to reject workers compensation coverage. If they’re not business owners, the state workers compensation commission will expect everyone to have insurance. Workers Compensation can be complex. That’s why we request clients to speak with an attorney before waiving any coverage. Learn more at Kentucky Workers Comp.

slow down or you will drive past Kentucky's best business insurance agency.  Commercial insurance at 6287 Taylorsville Rd, Fisherville KY  40023 or call 502-410-5089
Business Insurance

Why do I need CGL and E&O insurance?

It is possible. Some professions should have both. The coverages cover two different sets of risk. Why E&O or professional liability is typically associated with professional services, it also provides protection in the event of incomplete or shoddy work. Something that your CGL will not cover. Learn more.

Questions, feel free to reach out to a TruePoint agent. You can reach us at (502) 410-5089.

No-Fault Insurance

Insurance term, definition, deductible, insurance deductibe, what is a deductible,

How auto accidents are resolved vary by State

State auto insurance systems fall into one of two general approaches.  The majority (38 states) operate under Tort laws.  Tort law enables wronged parties the ability to seek compensation from the people or parties responsible.  

The remaining 12 states use an approach that is referred to as the No-Fault insurance system.  No-Fault does not mean that no one is at fault.  Providing additional insights into the no-fault system is more of a challenge.  In its purest form, no-fault insurance means that regardless of fault, each party or their insurance company are responsible for the loss.  A more accurate representation is that each party is required to cover their own losses up to a threshold.  The system was initially adopted by 22 states under the premise of reducing litigation cost and ultimately the over cost to consumers.

Kentucky operates under a no-fault insurance system.  The Kentucky no-fault process is sometimes referred to as a choice no-fault insurance system. Kentucky no-fault system applies to both personal vehicles as well as business vehicles written on a commercial insurance policy.    

Is Flood Insurance Only Available Through FEMA?

Your home is not automatically covered by flood insurance

Insuring yourself against flood risk is a little different than other insurance policies. Many people mistakenly assume that they have flood coverage through their Fisherville, KY homeowners or renters policy, but they don’t. In order to protect yourself from flood risks, you need a specific flood insurance policy to cover related losses. While you can purchase federal flood insurance through an insurance agent, most flood insurance policies are administered through the National Flood Insurance Program (NFIP) and can be purchased by homeowners, businesses, and renters from an insurer who contracts with FEMA.  


 

What Does Federal Flood Insurance Cover? 

The maximum flood insurance coverage amount is $100,000 for the contents of your home and $250,000 for damage to the structure. Commercial flood insurance through the NFIP provides up to $500,000 for your building’s materials and $500,000 for damage to the structure. You can also buy what is known as “excess” coverage beyond the limits offered through NFIP through private insurers. Flood insurance coverage for the contents of your home and damage to the structure is sold separately. Coverage for personal property only applies to its cash value basis, whereas buildings are covered for replacement cost. 

Federal flood insurance will cover direct physical losses caused by flooding and losses resulting from flooding-related erosion. For flood loss coverage for cars, ask your TruePoint Insurance representative for information about optional flood coverage through the comprehensive portion of your standard automobile insurance policy. 

Buying flood insurance 

Need flood insurance?  Buy flood insurance from truepoint, If you have a mortgage and your home is located in an area that has been identified by FEMA as a flood zone, chances are, you have been notified that you need flood insurances.  If not consider review the previous link regarding who needs food insurance.  If you would like additional information, one of our agents will be more than happy to assist. 

When buying flood insurance coverage, remember that almost 100 insurance companies offer NFIP policies. It’s easy to purchase. You can purchase a Federal flood insurance policy directly from an insurance professional. However, it does require a waiting period of 30 days before the policy takes effect. 

Flooding can occur at any time and threaten your Fisherville, KY home, so don’t wait until the last minute to purchase it. Call TruePoint Insurance today for more information about protecting yourself from the risks of flooding. 

Do you need flood insurance? Learn more about the people insured by the National Flood Protection Program.

Do You Need Commerical Insurance For A Business Providing A Service?

If you are the owner of a business that provides services to clients or the public, you may wonder if you need insurance, especially if you operate from home. All businesses that provide a service should have some level of coverage, even if it is liability coverage.

Businesses Providing A Service

If your company or organization provides a service to people, you need protection. You never know when you or someone you work for will be injured or suffer a loss. You can be held accountable for any incidence, and it can cause financial devastation without the right coverage for your market. Some businesses that need reliable coverage include lawn services, repair services, home health, in-home daycare, and more. Speak with an insurance expert to find out what type of coverage suits your business needs and make sure you don’t have costly gaps.

Working With An Expert

Always choose an agency that has expert agents when it comes to commercial insurance. They will help you find security and peace of mind with high-quality insurance products that protect you from a variety of dangers an potential threats to you and your business. If you live around the Fisherville, KY area, you can trust TruePoint Insurance to guide you in the right directions and present options that you need.

Don’t take chances if you provide a public service. Something could happen at any time and can jeopardize your career and your financial situation unless you have the right insurance coverage. Call or stop by TruePoint Insurance, proudly serving the residents in and around the Lawrence and Fisherville, KY area. We will work with you to find a policy that fits your situation and answer all of your questions.

Is Your Home Winter Ready? – Part 1

If you live in a climate that includes cold winters, you know the season creates special challenges for homeowners. In this article, we discuss an icy situation.

Ice Damsice dams, winter peril

An ice dam refers to ice that has formed along a roof’s edge. The dam of ice blocks additional water and the pooling water backs up and finds pathways into a home’s interior. This water may cause deterioration and decay to interior wood and plaster, drywall or other insulation materials. Once an ice dam has forced paths into a home, the roof becomes more susceptible to future ice dams and water damage.

Too much heat rising from the home to warm the roof is the most frequent cause of ice dams. The process occurs unevenly with the warmer area at the higher part of the roof melting the snow and then the cooler, lower area, particularly the roof edge, permitting the water to refreeze and then accumulate. Inadequate insulation lets too much heat escape into the attic and this creates a warmer roof. Improper ventilation creates moisture and heat buildup due to the lack of air movement.

How To Detect A Problem

Compare the way the snow is melting from the living area of your home with how snow appears on the roof over an unheated area such as a garage or shed. How does any snow coverage on your roof compare with your neighbors’ homes? Check for icicles. They can be pretty, but heavy icicle buildup means that interior heat is melting a lot of snow and may contribute to ice dams.

How To Prevent Ice Dams

There are a number of ways to help prevent ice dams:

  • Clear excess snow from the roof. However, in order to minimize damage to the roof and roofing, hire a professional to remove the snow.
  • Add rubberized or special roofing adhesives to help prevent pooled water on the roof from finding entry into the home’s interior.
  • Inspect the attic and roof for cracks, holes, or joints that permit warm air to escape to the roof, and seal or repair these areas.
  • Add the recommended amount of insulation to the attic and exterior walls of your home to minimize escaping heat (this also reduces your heating costs).
  • Reduce your home’s thermostat and throw on warmer clothing during extended cold spells.
  • Clear your gutters and downspouts so that water is properly shed off your roof.

As always, an insurance professional is a valuable source of safety and insurance information. Don’t hesitate to contact an agent to discuss your questions. If you haven’t had the chance, please be sure to read parts two and three of “Is Your Home Winter Ready” which discusses other winter concerns.

 

Continue to Section 2

 

COPYRIGHT: Insurance Publishing Plus, Inc. 2017

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.I

Contractor’s E&O Insurance

Closing insurance gapsIf your business has never had to turn in an insurance claim many will tell you to consider yourself lucky. Others may tell you to give yourself a pat on the back. At TruePoint, we will tell you that it is highly likely that both are true.
No one enjoys turning in an insurance claim. Once we get past the fact that no one is injured, an explosion of thoughts race through our minds. How much is this going to cost? What’s my deductible? How much will my insurance premium go up? Will I get canceled?
The one thought that is seldom considered is, “will my insurance company deny the claim?” Most small businesses seldom consider needing anything more than a General Liability policy. If you are a contractor that has had a past claim denied, then you most likely know where we are headed.
General Liability Insurance or GL covers a boatload. Even if you are not liable, it will pay claims made against you by a third party. Most legal fees, settlement costs, damages to property, bodily injury and more are covered. Your general liability policy should also pay claims related to slander or libel. It will also pay for some construction-related claims as long as they fall under the completed products coverage.
Most claims not covered by the general liability coverage policy are logical. First off we can exclude every claim not related to damages that we’ve caused to others. Buildings and other property must be covered by a property form. Some liability related losses are not covered by the commercial general liability (CGL) policy. The following are some of the most obvious examples:
•      Property Damage and Body Injury resulting while operating a vehicle Commercial Auto         Policy
•      Injuries to employees while at work Workers Compensation
•      Liability coverage for Doctors, Lawyers, etc. Professional Liability
Professional liability insurance is sometimes referred to as errors and omissions insurance or E&O. Warning to the wise, take care to review all policies. Professional Liability and Errors & Omission coverages differ. While E&O is more applicable to most contractors, it’s crucial that you make sure that the product you are buying provides the coverages you need.
Why is it that certain professions need E&O insurance and other need General Liability?
First of all, I don’t think this is a simple as flipping a switch. Up for GL and down for E&O. The two are entirely different and independent coverages, and many businesses are apt to need both to be adequately insured.
We mentioned earlier that General Liability insurance doesn’t cover certain losses. We already identified a couple of the more obvious types. You should also be aware that negligence, failure to offer a service, failure to act in good faith, misrepresentation are a few additional examples of exposures not covered by a CGL policy.
Do the gaps in General Liability coverages mean that contractors and other construction-related industries need Errors and Omission coverage? Possibly, each case is different. But if you’re not considering it, then you may need to find an agent that will work through the issues and provide enough insight into the question for you to make the right decision.
Most contractors have enough exposure that they could benefit by adding E&O coverage to their existing policy. The approach TruePoint takes in exploring whether Errors and Omissions should be added is no different than the way we treat any other coverage that is required. We start defining the types of risk that are being considered. In the case of contractors E&O we would ask questions similar to those below:
1.      Does your General Liability insurance protect you against claims for faulty work?
o      You’re correct if you answered NO! Advance to #2.
o      General Liability does not provide coverage for defective work. Call (502) 410-5089 or go to www.insuringky.com to learn more if you answered question 1 in the affirmative.
2.      Does your General Liability cover your work and products?
o      Again you are correct if you answered NO! Advance to #3.
o      General Liability does not cover your work or products. If you answered YES visit our site www.insuringky.com to learn more about TruePoint Insurance.
Contractors can have significant gaps in coverage that can be eliminated or reduced by adding Contractors’ E&O. The next step that we advise is to determine your exposure. We begin by developing a risk profile which at a very basic level answers the following:
•      your potential loss exposure (both a median or average potential loss as well as a max loss)
•      the expected frequency of the type loss being considered
The final step is to help you decide if the cost of the added coverage is reasonable relative to the reduced exposure:
•      We determine the cost to transfer the risk (in this case, how much will you pay for the E&O Policy)
•      And we then compare the cost to insure versus the exposures identified in the risk profile.
TruePoint works with commercial accounts in Kentucky and Southern Indiana to help them better understand their business insurance needs. Our focus is on how we can help you to most effectively develop and execute a strategy for your commercial insurance needs.