Many roofing professionals are impacted with an increase in automobile insurance costs due to a substantial rise in frequency and severity of auto claims. Severe auto losses can expose the assets of a roofing company if they are not properly managed. It is becoming more common to see relatively low-impact auto claims reach six and even seven figure ranges. A severe auto accident could possibly exceed the roofing company’s insurance policy limits. It can also have a dramatic effect on the company’s workers’ compensation budget for years to come.
Some of the factors that can increase exposure to loss include: