Roof contractors are exposed to some of the riskiest work in the construction industry. It’s not only dangerous for workers, but it can also lead to big damages if there’s a problem and a leak develops. Roofer liability insurance helps protect roofing companies from costs and damages related to their services. We’re going to take a closer look at this specialized type of insurance for roofing contractors, what it covers, how much it costs, and where you can buy it.
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What does roofing liability insurance cover?
Roofing liability insurance is professional liability insurance for roofing companies.
It protects roofers if they miss a step during installation that causes damage to a building, or if they give advice or recommendations to building owners that eventually lead to damage. The insurance covers the cost of repairing any damage from negligence by the company or its employees, as well as legal costs related to a claim.
How is roofing liability insurance different from general liability insurance?
General liability insurance covers damages caused by workers while working on customers’ property, and theft or vandalism of tools and materials. It also protects you from the legal costs to defend against libel or slander. It does not cover damages caused by errors in installation, defective materials, or advice or recommendations, like professional liability insurance does.
For example, general liability insurance covers damages incurred when one of your workers drops a sheet of plywood and it damages the homeowner’s fence. Professional liability covers damages caused by not properly nailing down shingles. For full coverage, roofers should invest in roofing liability insurance, as well as general liability. Then, no matter the cause of the damages, you know you’re covered.
How much does roofing insurance cost?
According to the National Roofing Contractors Association, annual premiums for roofing liability insurance start at about $1,700, or $140 per month. That’s for a $2,500 deductible and a $250,000 limit.
The cost of professional working liability insurance will vary depending on many factors, such as:
- Types and size of projects
- Location of the business
- Number of employees
- Amount of company property and equipment owned
- Deductible and coverage limits
Get several quotes from different insurance carriers before choosing one. Using an insurance agent is a great way to make sure you get the best deal and the best coverage for your business.
What do roofers need insurance for?
Roofers’ liability insurance covers not just medical bills and damages, but also legal fees related to an incident. This type of coverage helps protect your customers and your business. Roofing is a high-risk industry with the potential for extreme damages if something goes wrong. Having coverage for all types of incidents will keep your business safe and operating. Plus, you don’t have to worry whether an incident is covered or not.
Professional liability insurance covers property damage caused by mistakes or advice and recommendations you have given. It also protects you against workmanship and material errors, injury costs, and helps you defend your professional reputation. All legal fees and other costs associated with a claim are covered as well.
Learn more about contractor insurance: 16 Types of Insurance for Construction Businesses
5 top-rated companies for roofing liability insurance
Here are five top-rated companies (in no particular order) that can issue liability insurance for roofing contractors.
Always shop around to find the best deal. Insurance agents can help you choose the best coverage based on your needs.
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