General Liability Insurance

If your state does not require you to have a general liabilty insurance policy, do you think it's necessary for your business?

I'm kind of wondering that out loud because I started paying for GL back in the early 80's and I've never come close to filing a claim.

I think it is important to have regardless, there is no law here forcing contractors, especially roofers to carry any kind of insurance, also there is no regulating of a license unless you are pulling permits for larger than 10,000.

So many contractors here even advertise that they are insured but when a customer asks for them to see there certificate they cannot produce it, which has in turn helped me seal a deal a good bit.

In my opinion just from a sales stand point it pays for itself and then some, let alone if you have an accident.

The most important thing is to know EXACTLY what your policy covers and what it doesn't. We found out the hard way during the '04 hurricanes that hit us. Policy does NOT cover "Acts of God".

JET

I just renewed for $12,500.00 can i have your agents no? :woohoo:

I lost a high school gym floor once...our temp roof leaked.....cost about $65,000 to replace the entire wood floor.... but the insurance companies have way more than recapped that loss on me. I think it is necessary, but it shouldn't cost as much as it does.

I wish I could bid against them insuring roofers.

I did some shopping around on my insurance this year and I saved about 25%, from what my agent was trying to sell me. It pays to get 3 bids.

I've been in business 37 years and I've filed exactly two claims. It wasn't my choice either time but let me tell you, it was definitely necessary. I don't care how careful you are, how ethical you are, how hard-working and diligent you are, how honest you are, or how strong you are. Every once in awhile there will be a reason you will need to file a claim. You'll know it when it comes and you will know it instantly. Insurance is cheap imho, and you are under absolutely no obligation to believe me.

i would not want to take the chance of not having it. why work all those years to get something and lose it on one mistake.

I have a million,cant work any commercial without it.Wouldnt want to have to worry about not having it, i have never filed a claim.But you cant read the future.

It is insurance. It is necessary by definition.