The construction industry is picking up steam once more, and contractors are starting to rev up their operations. As the economy continues to recover, homeowners are focusing their attention, and the siding industry is one of many to watch. After all, understand that siding will always be needed in home improvement.
Currently, the siding and fascia industry is worth billions and is projected to continue growing well into 2027. While there's no doubt this is one of the promising areas to set up a business, especially if you have some construction background, it's not without its fair share of risks.
Consider getting insured just like drywall contractors. Liability litigations could paralyze your operations and potentially force you to close your business. With increased risks such as falls and damage to the client's properties, you have to ensure you have adequate siding business insurance to protect yourself and your business from liability. The insurance will also help cover the costs for employee injuries, stolen or lost equipment, and commercial auto accidents caused by vehicles in your fleet.
A siding contractor liability insurance gives your company protection from third-party claims filed by general contractors, homeowners, and other clients. It has different types. Liability insurance is one of the requirements to operate a siding installation business legally and successfully.
With siding installation general liability insurance, your company can address common customer claims without suffering severe financial losses. Most insurance carriers will offer siding installation liability insurance to protect you from the following risks:
Bodily injury – General liability insurance can limit your business's involvement when accidents cause bodily injuries or physical harm. The general liability insurance that comes as part of your tailored siding installer insurance policy helps tackle the expenses that occur from the accident. The insurance can cover costs such as getting emergency medical care.
Property damage coverage – General liability insurance also limits the direct risk to your company if the customer's property is damaged and you're held responsible for those damages. If a dropped siding damages the wall or any other structures, this insurance will pay for the necessary repairs or replacement. The insurance will also cover various legal costs if your company is sued for damages. Depending on the insurance company, the policy can cater for obtaining an attorney, conducting research, or paying for investigative services and witnesses.
Products and completed operations coverage – Should your company get sued for work or services you performed in the past, general liability insurance will also cover this. The insurance can help pay for legal defense fees and necessary settlements awarded by the court.
Personal and advertising injury – If you're accused of causing reputational or advertising harm, having general liability insurance can help limit your risks of loss. Advertising or reputational harm is often reputation-based and usually happens when another individual or company believes that you made statements or took an action that caused them to suffer damages to one’s image.
Damage to premises rented to you - The commercial space your siding installation business rents or leases is protected against damage by the rented premises liability coverage of general liability insurance. As the tenant, if you're found to have caused damage like starting a structural fire, the property owner will expect you to pay for the repairs. This coverage in general liability insurance takes care of that.
Errors in siding installation are another common reason why a client might file a claim against your business. An employee might have driven the nails too tight, cut the siding poorly, or not checked for level during the installation. These mistakes will force a client to redo the job and spend on another contractor thereby incurring an economic or financial loss.
To protect yourself against client claims resulting from a faulty siding installation, get professional liability insurance. It will cover legal expenses, payment orders, and other legal costs on your behalf. Aside from errors, professional liability insurance also covers the following perils:
Violation of confidentiality
Violation of good faith
Violation of fair dealing
Other acts constituting errors and omissions
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A siding installation business like yours can’t operate well without an owned, rented, or leased commercial building used as an office and a storehouse for sidings, equipment, and other materials. Commercial property insurance will protect your business’s commercial building against the following:
|Building Destruction||Building Damage|
|Fire and extreme weather will destroy your siding installation business’s commercial building. In such an event, commercial property insurance will reimburse your losses based on the actual cash value or replacement cost of the building destroyed||Fire, theft, vandalism, and other covered perils will destroy particular structures of your siding installation business’s building. Commercial property insurance also provides reimbursements based on the replacement cost or actual cash value of the damaged structures|
Spend more on the premiums for commercial property insurance and you’ll enjoy enhanced protection. Commercial property insurance having the following add-ons:
|Stocks and Contents Coverage||Business Equipment and Tools Coverage|
|If added with stocks and contents coverage, commercial property insurance will reimburse your losses if siding materials, office furniture, important documents, and other valuables become damaged or lost due to fire, theft, vandalism, and other covered perils||If added with business equipment and tools coverage, commercial property insurance will reimburse your losses if siding installation tools such as electric cutters, hammers, saws, nail guns, and snap lock punches become damaged or lost due to fire, theft, extreme weather, vandalism, and other covered perils|
As we emphasized earlier, commercial property insurance provides reimbursements based on the actual cash value or replacement cost of a scheduled commercial property. Here’s the difference between the two:
Actual cash value - In actual cash value reimbursement, commercial property insurance provides money equal to the depreciated worth of a scheduled property. For example, if your $600,000 building depreciated 3% until getting destroyed, you’ll only receive $180,000 insurance money from the insurance company
Replacement cost - Replacement cost doesn’t take depreciation of a scheduled property into account. For example, if your $600,000 building was destroyed, you’ll receive the same amount regardless of how much it depreciated
Your siding business will most likely have vehicles transporting siding, equipment, and tools from your warehouse to the worksite. If the cars are registered under the business name, it's imperative to have commercial auto insurance, which is legally required in most states.
This coverage pays for third-party bodily injuries or property damage your commercial vehicle caused. It also pays for parts repair or replacement, medical expenses of injured drivers or passengers, and reimburses what you spend on roadside assistance services. The table below discusses these in more detail:
Auto Liability Coverage
|When your siding installation business’s commercial vehicle causes an accident and injures third parties or damages properties, auto liability coverage in commercial auto insurance will cover medical payments and reimbursements to property owners. It will also cover attorney fees, payment orders, and other legal costs if aggrieved parties decide to take legal action|
Physical Damage Coverage
|Commercial auto insurance includes physical damage coverage. Physical damage coverage has two forms - collision and comprehensive. Comprehensive physical damage coverage will take care of parts repair or replacement if your siding installation business’s commercial vehicle incurred damage due to fire, hail, storm, and other covered perils. Collision physical damage coverage on the other hand will cover parts repair or replacement if your business’s vehicle got damaged after colliding with something, except deer and other types of wild animals|
Emergency Roadside Assistance
|Insurance companies offering commercial auto insurance for siding installation businesses allow the adding of emergency roadside assistance coverage. Emergency roadside assistance coverage will reimburse what you spend on tire repair, tire delivery and replacement, gas delivery, and other roadside assistance services needed to resume an interrupted trip|
MedPay/Personal Injury Protection
|MedPay and personal injury protection are inclusions in commercial auto insurance that functions to cover medical expenses if the driver and the passengers of your commercial vehicle sustained injuries in a vehicular accident. Both apply whether or not the accident was your commercial vehicle’s fault|
Workers' compensation insurance is a requirement in most states. In such states, this type of siding installer insurance is compulsory for businesses that have employees. The terms of workers' compensation insurance expressly state that it will take care of the following on your behalf:
|Cuts, lacerations, fractures, and strains are common work-related injuries your employees will experience. When an employee needs medical treatment/procedure after experiencing an injury, workers' compensation insurance will cover costs on behalf of your siding installation business|
|A work-related injury might end up with your employee staying in the hospital for days, weeks, or months. In connection, workers' compensation insurance will shoulder the cost of hospital bills no matter how costly and how long the employee needs to stay|
|Siding installation injuries such as fractures will cause impairment and your employee might need rehab to recover lost bodily functions. It’s also the job of workers' compensation insurance to provide money you can use to pay for therapist fees and other rehabilitative expenses|
Lost Income Compensation
|An employee will require your business to compensate lost income if he or she needs to take a leave to heal an injury. Workers' compensation also helps with this. Specifically, it will give the employee a weekly allowance equal to two-thirds of the average weekly wage. So if your employee makes $1,245 weekly, he or she will receive $834.15 as compensation for lost income|
|Aside from injuries, your siding installation business is responsible if an employee dies due to a work-related accident. In such an event, workers' compensation insurance ensures that you don’t experience financial losses by taking care of the deceased employee’s funeral expenses. It will also provide cash aid to dependents|
You should invest in workers’ compensation insurance because not doing so will result in stiff fines and penalties. Also, siding installation accidents are very common. Here are some reported incidents:
|Incident Date||What Happened?|
|October 20, 2020||A siding installer was working on a residential structure. The task was to take measurements. It should be noted that he was working from a ladder. For some reason, the employee lost his balance and fell from a height of 10 feet, and struck his head on the pavement. He sustained traumatic injuries to the head and later died|
|February 12, 2009||A siding installer was attaching a siding on the side of a building. During the installation work, the siding touched a live electrical wire. The siding installer got electrocuted as a result and caught fire. |
|November 2, 2015||A siding contractor was hired by a construction company to remove and add vinyl siding to a two-story building. While doing removal work, the siding contractor in question lost balance and hit the asphalt pavement below. This resulted in intracranial bleeding, and fractures on the skull, back, arm, and shoulder|
You need other types of siding installers insurance to protect your business from liability comprehensively.
Most of the tools used in siding installation cost a pretty penny. Replacing the tools in case of theft can be a significant financial burden. Having a siding contractor insurance for tools and equipment can help pay for repairs or replace tools like power saws and others when damaged, lost, or stolen on-site or off-site.
This type of insurance for siding installers is perfect for new businesses with new equipment, small tools, and mobile equipment.
Umbrella insurance isn't a necessity for every siding contractor. But it is essential for some. If you feel your insurance limits are too low, you want umbrella insurance coverage. It increases your policy coverage significantly and adds a safety blanket that shields you from additional risks.
Employer’s liability insurance is a stand-alone policy or inclusion in workers' compensation insurance. It all depends on which company you choose to get insurance from. When an employee experiences a work-related injury and decides to sue your business for negligence, employer’s liability insurance will cover attorney fees, compensatory payments, and other legal costs.
Siding installation insurance is customized to the needs of the business. The actual cost of siding installer insurance varies depending on various factors like:
The business location
Number of employees
Type of your siding contractor business
Years in business
Your business assets, equipment, and tools
Your selected coverage limit and deductible
A siding installer pays a monthly premium of $57 or $684 per year for a $1 million general liability coverage. You can compare different siding installation quotes using the "Get Quotes" button.
|Cost per Month||Cost per Year||Best for|
|CoverWallet||$55||$660||Siding contractor insurance quotes comparison online|
|Hiscox||$58||$696||Siding installation liability insurance|
|Page and Campbell||$61||$732||Siding installers looking for a company that offers extra expenses coverage|
As an astute business owner, you can consider taking out a Business Owner's Policy (BOP) instead of buying a general liability policy. The BOP combines all the different policies into one discounted insurance policy which saves you money.
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There's no shortage of siding installers insurance companies in the country, but you might struggle to find one offering all insurance services under one roof and specializing in siding installation. It is vital that you take the time to find a reputable carrier that can write tailored insurance plans that cater to your unique business needs. That said, read the reviews below to know the best siding installation insurance companies and their pros, cons, and monthly pricing for a $1 million general liability coverage.
Has an online quotes comparison platform you can use to find other companies that offer tailored siding contractor insurance
Cancel a policy anytime
Sells the insurance products of the leading carriers in the USA
Policy cancellation takes long
CoverWallet is an insurance broker that offers a vast range of insurance products for siding contractors. This company has four tailored siding contractor insurance plans that fit the needs of any customer. These tailored insurance plans are as follows:
|Basic||Offers general liability insurance only. Perfect for independent siding contractors working on small-scale projects and doesn’t have employees|
|Standard||Has general liability insurance and professional liability insurance. Still tailored for independent siding contractors but more comprehensive|
|Pro||Allows you to have general liability insurance, professional liability insurance, and workers' compensation insurance. This is the smart choice if you’re running a startup siding installation business|
|Pro Plus||A custom plan where you’re free to get any insurance products CoverWallet offers. Get this if you’re running a growing siding installation business|
Best for: Siding contractor insurance quotes comparison online
Average cost: $55 per month
Our rating: 10/10
Reputable business insurance provider
Comprehensive general liability and professional liability insurance
Not rated by BBB
Hiscox’s offers general liability and professional liability insurance for siding installers. What makes this insurance company good is that its liability insurance policies can give up to more than $3 million in coverage provided that you meet specific requirements. Also, Hiscox offers commercial auto insurance and commercial property insurance with equipment breakdown coverage
Best for: Siding installation liability insurance
Average cost: $58 per month
Our rating: 9/10
Fast and free quotes
Provides comprehensive insurance options for siding businesses, including self-employed siding contractors.
Prompt and responsive
Only serves clients in Vermont, New Hampshire, Massachusetts, Rhode Island and New York
Paige and Campbell is a leading insurance agency with over 100 years of experience. The company has multiple offices in Vermont and is a full-service independent insurance agency.
The company specializes in various insurance options for small businesses, including siding installation. Their experience in the small business insurance market means they understand the business needs and can tailor the policy to cover those needs.
The greatest advantage of working with Paige and Cambell is that you can get all your insurance policies underwritten by one company, making it easier to manage and submit your premiums.
Best for: Siding installers looking for a company that offers extra expenses coverage
Average cost: $61 per month
Our rating: 8/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow