What are the minimum limits for general liability insurance that a roofing contractor must maintain?

The minimum limits for general liability insurance that a roofing contractor must maintain are set to ensure that the contractor has adequate financial coverage in case of accidents or damages that may occur during their work. The correct answer specifies $250,000 for property damage and $500,000 for personal injury or bodily harm, which aligns with the industry standards and regulations aimed at protecting both the contractor and the public.

Maintaining these minimum limits is crucial for roofing contractors since the nature of their work often involves significant risks, including potential falls, accidents, and property damage. By having the minimum coverage of $250,000 for property damage, contractors can cover most damages to a client's property that may arise from their work. The $500,000 limit for personal injury or bodily harm provides financial protection against claims that may arise due to harm caused by the contractor’s operations, which is essential for safeguarding against lawsuits and ensuring that injured parties can receive compensation.

This level of coverage is typically mandated by regulatory bodies to promote safe business practices within the roofing industry and protect the interests of clients and the general public. Adhering to these requirements is essential for licensing and operating a roofing business legally in Illinois.