An Easy Guide to Roofing Contractor Insurance

No roofing contractor insurance guide would be complete without Builder’s Risk Insurance. Why is this? You might be thinking, if it is so important then my insurance company would have sold it to me. Or you could be thinking, if it was so important, then why isn’t it a legal requirement like Roofers Liability Insurance or Workers Compensation?

The real question is, do you know enough about Builder’s Risk coverage to make the decision?

Should Builder’s Risk Insurance be included in this guide?

Builder’s Risk covers things that are not covered by your General Liability Insurance. For instance, Builder’s Risk coverage is designed to protect buildings and structures that are being built, but not liability claims.

Builder’s Risk is also called course of construction insurance. As a matter of fact, this name describes the coverage best. This roofing contractor insurance policy is project-specific. So it’s only in place for the duration of that project.

In contrast, unlike your liability coverage, it doesn’t provide day to day coverage. In other words, it is limited coverage that protects individual projects.

So, if Liability Insurance isn’t enough coverage for roofing projects, can Builder’s Risk fill the gaps?

3 Good reasons to consider Builder’s Risk

1. Wider coverage, better protection

Strengthen your Roofing Contractor Insurance program with Builder’s Risk coverage. This roofing contractor insurance policy covers the costs of construction that could be lost due. We’re talking about financial loss due to to project delays, fire or vandalism. It also protects the building materials, equipment or tools you are using in that particular project.

2. Customized coverage

Because no Builder’s Risk policy is one-size-fits-all and no two roofing projects are exactly the same, be sure that yours includes extensions. Of course you will choose these carefully. They  will cover your project’s specific needs.

Before making a decision, speak with an insurance agent that specializes in Builder’s Risk or Contractors Insurance.

• fire,
• hail,
• lightning,
• hurricane,
• explosion
• vandalism
• changes to building ordinances

3. Other than third party claims

These financial losses can be covered. Note that they are not claims brought by a third party, but financial losses experienced by your business directly as a result of damage to the structure.

• repairing damage to existing buildings and structures
• re-erecting scaffolding that has fallen
• project delay penalties and fines
• loss of profits
• costs of replacing stolen roofing materials or tools
• soft costs for architects, lawyers, expediters

Is your Roofing Contractor Insurance good enough coverage?

A simple guide like this one cannot cover all the Roofing Contractor Insurance policies available to you. If you could learn one thing from this article, it is that there are even more options than you thought. Our best advice about investing in insurance is to get help from the experts.

Our agents can walk you through all the different policy options that come with Builder’s Risk Insurance. You will then be able to customize a policy that is right for you. Give us a call at 877-960-0221.