What insurance coverages are available through roofers policies?
Roofers policies can provide a range of protections. Some coverages that a policy might come with are:
What’s an uninsured subcontractor endorsement?
Roofers who work with subcontractors may want roofers insurance that has a subcontractor endorsement option.
An endorsement typically adds on specific coverage. In the case of a subcontractor endorsement, the endorsement may provide protection if the roofer is sued because of something a subcontractor does.
If a subcontractor endorsement is needed, this is something that an insurance agent specializing in roofers insurance can assist with.
Do roofing contractors need to get bonds?
Bonds are sometimes used to ensure the customer is compensated if a contractor fails to complete work as promised. If a project isn’t completed, the bond may pay the customer for incurred costs as a result. A few bonds instead guarantee that workers will be paid.
Larger customers, such as businesses and governments, might require a bond before granting a job. Bonds usually aren’t obtained for work on single-family homes.
If a bond is needed, an insurance agent who knows roofers insurance should be able to check how much a bond will cost. Roofers can then include this in the price that they quote the customer.
Do roofing contractors need to get workers compensation?
Workers compensation is a coverage that normally protects against workplace injury, and it’s generally required by Massachusetts law if a business has employees.
Since most roofers have employees, this is a coverage that roofing contractors often need. It might be purchased as part of a roofing policy, or as a separate policy that’s in addition to a roofing policy.
How much do roofers pay for insurance?
The premiums that roofers pay for their insurance policies vary, as details like location, service area, type of roofing work, and whether bonds are needed all can impact cost. In general, however, coverage tends to be affordable. It’s almost certainly less than what a major claim could be if no protection is in place.
An independent insurance agent can help roofers see how much coverage would be. Independent agents aren’t connected to any single insurance company, so they can show roofers whichever company’s policy offers the best combination of protection and price.
Where can roofers get roofing insurance?
If you need help finding roofing insurance, contact the independent insurance agents at Paul T. Murphy Insurance. Our Massachusetts insurance agents will work closely with you, to find an insurance policy that’ll protect your business well.
.png?width=145&height=64&name=Arbella_Insurance_Logo%20(1).png)