How Much Does Roofing Insurance Cost?


You might be able to submit a bid for a project without having to show proof of roofing insurance, but at some point during your project you will probably be asked to show that you are insured. If you don’t have roofing insurance you run the risk of losing future projects, not to mention that you are exposing yourself to unnecessary personal liability if anything goes wrong on your project. Even though there are monthly costs for insurance, the costs pale in comparison to what you could have to pay if you are sued due to personal injury or property damage.

Roofing insurance costs vary

The type of work that you perform and the amount of coverage that you need are two of the main factors used to determine how much your insurance costs will be. Roofing insurance can be affordable, and there are payment plans available for most types of roofing insurance following an initial deposit. You can speak with your insurance expert about what your expected costs will be and ask them for ideas on how to lower your costs as well. You may be able to pay a higher initial deposit and lower your monthly costs if you prefer to save money each month, or there might be discounts for paying in full.

Your minimum level of coverage will vary based on the project

Some of your projects may require a higher level of coverage depending on the potential liabilities and the number of workers you employ. Many projects will require a minimum of $1,000,000 in liability coverage. Most insurance plans will offer this amount of coverage or higher, and insurance premiums for that amount will vary from one provider to another. If you are concerned about premium costs, the best way to find out how you can save money on insurance costs is to work with an insurance expert who can shop the entire insurance market and find the lowest rates possible from different providers, with the coverage limits that you need.

Get roofing insurance quickly if you don’t have it

Every day that you operate your roofing business without insurance you run the risk of a major financial disaster. If just one small thing goes wrong that results in injury to one of your workers or another person, you can be held liable for thousands of dollars in medical costs and your business’s reputation will also be affected. It is simply not worth the risk to run your roofing business without roofing insurance, so get a quote today.

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