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Roofing Insurance & Roofers Insurance

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If you’ve been looking for “roofing insurance near me” recently, your search ends here.

One of the most overlooked aspects of construction projects is roofing. Roofing companies are responsible for replacing the roofs on old buildings or completing the roof on new construction. This is usually one of the final steps in any building project before the final details such as electrical, plumbing, and carpentry are completed.

Whether you own a large roofing company or you just want to learn more about roofing contractor insurance policies, then you’ve come to the right place! In this article, we’ll be giving you a definitive overview of everything that you need to know about roofing insurance.

We’ll start by explaining why it’s so important to insure your roofing business. Then, we’ll discuss the most common types of roofers insurance that you may need and what to expect as far as monthly and annual premiums go. Finally, we’ll take a couple of minutes to answer some other common questions related to roofing company insurance.

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Roofing Business Insurance: Why You Need it

A roof is one of the most important parts of any structure and plays a crucial role in keeping the elements out of the building and maintaining its structural integrity. If mistakes are made on the side of the roofing contractor, then it could be the grounds for a considerable roofing insurance claim in the future.

Structural damage claims aren’t the only thing that roofing contractors need to be wary of either. Roofing, by nature, is a dangerous profession. Construction workers typically spend the majority of their day walking around on top of an angled surface. No matter how safe the conditions are, there’s always the possibility of a slip-and-fall accident that could leave one of your workers paralyzed or even dead.

Last but not least, you have to consider the possibility of falling objects. Roofing involves large, heavy pieces of plywood, shingles, and other roof paneling. In addition, workers regularly carry nail guns, hammers, drills, and other hardware, all of which can fall off of the roof and hurt anybody unlucky enough to be standing or walking by below.

These are just a few examples of worst-case scenarios that could occur during your everyday work. When you combine heights, hardware, and potentially dangerous scenarios together, the possibility of severe damage is never far around the corner.

Ultimately, your roofer insurance policy may be the only thing that stands between your company and financial ruin. A comprehensive roofing company insurance policy can pay for property damage, compensate injured workers, and pay the medical bills for any third-party bystanders who get hurt.

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What Type of Insurance Do Roofers Need?

We’re not trying to frighten you unnecessarily. Rather, we’re just trying to instill a sense of respect for the everyday danger involved in the roofing profession. That being said, the scenarios we discussed above are typically covered by different types of insurance policies.

As a business owner, you should know the difference between the various insurance coverage policies available for your roofing company. In this section, we’ll go over the most common types of insurance that you may need to make sure that all of your bases are covered, from small residential roofing repairs to large multi-story contracting jobs.

Commercial Auto Insurance for Roofers

Let’s start with commercial auto insurance. No matter how small your roofing company is, we guarantee that you’ll have at least one truck dedicated to transporting your employees, tools, and building materials to and from the job site.

Since your vehicle is being used daily for work purposes, you’re going to need to purchase commercial auto insurance for it. Commercial coverage typically provides higher levels of damage coverage than a personal auto insurance policy and may also insure any equipment and tools that you’re carrying inside of your truck that could be damaged in an accident or stolen.

Roofing Workers Comp Insurance

As we mentioned above, roofing is a dangerous profession for workers. Accidents happen every day and could involve something as simple as a worker smashing their hand with a hammer or an employee falling off of a roof or ladder. The latter scenario often results in death.

A roofing workers’ comp insurance policy is designed to protect your workers if they’re involved in one of these unfortunate accidents. Once a worker is injured, they have the right to make a claim to your insurance company. Your insurance company will help them pay for their medical bills, any medication and physical therapy they may need afterward, and may also compensate them for time missed on the job so they can continue to pay their bills.

In the event of unfortunate death, the roofing workers’ comp insurance will help the family cover funeral costs. The victim’s family and children may also be given a sum of money as compensation.

Roofing Liability Insurance

Liability insurance is designed to prevent you or your company from being “held liable” for certain types of damage. Without a solid roofing liability insurance policy, then you can be held personally responsible for any damage. This means that your clients, employees, and third parties can sue you for money out of your personal bank account.

If you don’t have the funds, then the court can come after your personal assets such as your home or automobile to settle the lawsuit. As long as you have liability insurance coverage, though, you and your assets will be protected, and your insurance provider will be able to cover damage or injury claims.

That being said, there are several different types of roofers’ liability insurance that you’ll be able to choose from. Here’s a quick breakdown of each type so you know which one is best for you and your business.

Roofers Public Liability Insurance

The most basic type of liability coverage is public liability insurance. This is designed to provide coverage that visitors sustain while on your business property or job site. For example, if a third party walks by your job site and steps on a stray nail, and injures their foot, they would be compensated by your roofers’ public liability insurance policy.

Roofing General Liability Insurance

Almost all roofing companies should purchase a roofing general liability insurance policy. General liability insurance for roofing contractors and businesses cover everything that a public liability policy does and go a step further. This type of insurance provides coverage for not only third-party passersby and visitors but also covers property damage claims and bodily injury claims.

Roofing Contractors Liability Insurance

Now, let’s just say that you don’t own a full-blown roofing company. Instead, you work on a contract-by-contract basis, hiring helpers or employees as needed. As a contractor, you’ll likely be working for larger roofing companies or taking jobs from the general contractor in charge of the construction project.

Despite the fact that roofing contractors typically run a smaller operation, they still need to be insured. In fact, most large roofing companies and general contractors won’t even hire a subcontractor unless they’re able to provide proof of insurance.

This means that you’ll still need to purchase general liability insurance for roofing contractors. As a smaller contractor, the only real difference is that you may not need to purchase as much coverage as a large roofing company would. Depending on whether you have employees or not, you may also get out of purchasing workers’ compensation insurance.

What Determines Roofing Insurance Cost?

Ultimately, your roofing company insurance cost will depend on a number of different factors, including but not limited to:

      How many employees you have.

      If you’ve made previous insurance claims.

      What type of roofing work you do (repairs or full-scale building).

      The claim limit on your insurance policy.

      Whether or not you need workers’ comp insurance.

      How many vehicles you insure under your commercial auto policy.

      Whether you’re allowed to bundle your policies together.

      Your gross sales (how much business your company does every year).

Typically, the larger your business is, the more jobs you complete, the more assets you need to be covered, and the more employees you have, the higher your roofing insurance price will be. Conversely, if you’re just a small business with no full-time employees, you may just need subcontractor roofing insurance (which should be more affordable).


Roofing Liability Insurance Cost

Now that you understand some of the ins and outs of how roofing insurance works, you’re probably wondering how much it will set you back. Although a good general liability insurance policy for roofing businesses will cost you some money, on average, general liability insurance for roofers costs about $292 per month, or $3,448 per year. Keep in mind that you can always factor your roofing liability insurance cost into the price you charge clients for working. By doing this, the policy practically pays for itself.

Here’s a quick table outlining the monthly and annual premiums you can expect to pay as the owner of a roofing company. Keep in mind that these are just estimates. The actual amount you’ll pay may be more (or less), depending on the factors that we just discussed above.

 

Insurance ProviderAverage Monthly RateAverage Annual Rate
Nationwide$314$3,763
Travelers$299$3,595
The Hartford$321$3,852
Geico$307$3,680
State Farm$289$3,470
Chubb$279$3,356
USAA$270$3,240

 

Roofing Workers Comp Rates

If you have full-time employees working for you on the job site, then you’ll almost always be required to show proof of workers’ comp insurance before you’re given the contract. Generally speaking, roofing workers’ comp rates tend to be more expensive than general liability insurance rates. This is due to the high-risk factor associated with roofing employees. Here are some of the average rates paid by other small to mid-sized roofing companies.

 

Insurance ProviderAverage Monthly RateAverage Annual Rate
Progressive$792$9,495
Nationwide$797$9,568
BiBerk$812$9,745
Hiscox$806$9,673
The Hartford$819$9,820
Travelers$828$9,930

 

Does Roofing Contractor Insurance Cost Less?

Roofing insurance is, in general, more expensive than most other business insurance policies for other types of occupation. Although some roofing contractors run larger operations and take on larger jobs, most roofing contractors operate on a smaller scale than most of the larger roofing companies. Nevertheless, as we mentioned, you’ll still need a roofers’ general liability policy, and you’ll almost certainly need a workers’ comp policy for your roofing workers.

However, if you are running a smaller operation, then your roofing insurance rates should be a bit lower than the prices listed above. A small roofing business general liability insurance cost is $107 per month or $1,278 per year, on average. Ultimately, it all depends on how much revenue your roofing contracting company brings in each year and if you have any full-time employees that need to be covered with a workers’ comp policy.


Cheap Roofing Insurance: How To Reduce Your Rates

As you can tell, purchasing roofing insurance for your roofing company can be a bit costly. It’s certainly more expensive than a small handyman or repair service anyways! Due to the high-risk nature of the job, this is just something that comes with the territory. It’s also what allows you to charge top-dollar for the roofs that you build.

All of that being said, though, there are several things that you can do to reduce your rates and get cheap roofing insurance, including:

      Comparing quotes from different companies.

      Obtaining advanced OSHA safety certifications.

      Going several years without major claims.

      Paying your annual rate upfront (instead of monthly premiums).

      Paying a higher deductible (the amount you agree to pay out of pocket before your insurer steps in and covers the rest).

The first step that you can take to get the best roofing insurance deal is to shop around with different providers. Click the ‘Get Quotes’ button below to get a list of customized quotes for your roofing business from the best roofing insurance companies!

Compare Roofing Insurance Quotes

Get all the best quotes from leading providers in a click of a button!

In partnership with:

Identity logo

In partnership with:

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Residential Roofing Insurance vs Commercial Roofing Insurance

One of the questions we often get asked is whether purchasing residential roofing insurance is cheaper than buying commercial roofing insurance. Generally speaking, residential roofing companies tend to get better rates as there’s not as much risk associated with the job. In addition, residential homes are usually smaller, require fewer employees, and often just involve simple roofing repairs. All of these factors lower the risk associated with the job and can drive premiums down.


What is Temporary Roofing Insurance?

Temporary roofing insurance or “on-demand” policies are short-term insurance policies designed to provide coverage for a one-time job or string of jobs. For example, let’s just say that you’re a general contractor who doesn’t specialize in roofing. However, you were recently asked to complete a roofing job, and you don’t have the necessary coverage.

In this case, you can typically contact your existing insurance company and ask for an increase in coverage. You’ll have to pay higher rates for both general liability coverage and workers’ comp rates for the duration of extended coverage, but you’ll be able to get the necessary coverage to accept the job.


State Farm Roofing Contractors Insurance Review

State Farm is one of the most popular insurance providers used by construction and roofing contractors. They’ve been in business since 1922 and have built a trustworthy reputation. One of the best reasons to go with State Farm is that they provide both general liability insurance and workers’ compensation coverage. This means that you may be able to bundle your policies together and save. State Farm has a stellar reputation for quality customer service, and they have offices around the country, which makes them easy to get in touch with when you need them most!

Pros:

       Excellent reputation for quality service.

       Provide both workers’ comp and general liability coverage.

       Offices located nationwide.

       Great customer service.

Cons:

       Occasional reports of denied claims.

Best For: Small to large-sized roofing and construction contractors.

Average Price: $289/month

Our Rating: 4.5/5

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