One of the best steps to getting the proper insurance is knowing which type of insurance provides coverage for risks and saves money. Having a good knowledge of roofing insurance helps clear out about half of one’s scepticism and builds confidence in choosing the right plan for one’s company.

There are different types of insurance for roofers, which are;

  • General Liability Insurance: This protects roofing companies against third-party general liability claims such as lawsuits, injuries or damages. This also protects one’s roofing business from claims by clients regarding services rendered.
  • Loss of Income Insurance: compensates one’s roofing business from forceful closure by court injunctions from claims by clients or workers. This compensation spans the period of business closure and could last up to a year.
  • Commercial Property Insurance: indemnifies against the company’s loss through property or equipment damage. Accidents such as fire outbreaks, power surges, and damaged tools are covered under equipment insurance.
  • Workers Compensation Insurance: covers for the risk of injury sustained by a good worker at a job site. Medical bills and rehabilitation expenses are taken care of by this insurance policy.  Lost wages are also paid by this insurance, and so are death benefits in case of tragic incidents such as life loss.
  • Builders Risk Insurance: covers a property where building and roofing work is ongoing.
  • Commercial Auto Insurance: covers all the companies’ automobiles such as buses, vans, heavy-duty trucks in case of accidents and personal injuries to drivers, operators or third parties.

What are the tips for knowing your company has good insurance?

To forestall ending up with a bad roofing insurer, there are a few tips roofers need to follow;

Seeking an agent and an insurance company

The first step towards a good insurance journey is a good guide. Roofers need to seek the service of a competent agent who helps find the most appropriate insurance company that covers their business. An independent insurance agent represents more than one insurer and presents one with choices.  As with every high-risk business, roofers’ insurance can be pretty expensive. During the bidding for insurance companies, many business owners trade an insurer’s financial consistency for cost.

Getting an experienced agent or financially upright insurance company should comfort you that your roofing business is in competent hands.

Insurer’s consistency with obligations

Background checks couldn’t have been deemed too meddlesome. You’re not meddling into someone else’s privacy by carrying out due diligence about a company you’re partnering with. Get feedback from other customers if their experience so far has been consistent with yours on a private level.

Look out for points of divergence in comparison with their financial obligations to others. Does the insurance company treat old customers differently from new ones? How forthcoming were they to handle risks in the past? Perhaps you’re a new customer and that’s why you’re being treated well? Get customers’ views and feel other people’s pulse about the company. If the reviews are positive and consistent, then know your roofing company is in for a good insurance.

Company’s financial strength

A weak financial standing of an insurance company is a red line one must look out for. An insolvent company won’t be able to protect one’s business during a crisis. Before you purchase your insurance from a company, try getting the company’s annual financial statements, the profile of their management team and their efficiency at mobilizing compensations to clients’ claims.

The 2009 financial crisis started out with the falsification of financial records, where businesses overestimated their worth and valuation under false pretense. Failings in financial obligations saw foreclosures of businesses and properties. A similar scenario might play out when the insurer isn’t transparent with its finances.

To know if your insurance is good, seek advice from financial experts. Good financial strength is a strong indication an insurance company wouldn’t default in its obligation to protect one’s roofing company from risks.

Premium rates

Premium is the amount an individual pays on a monthly basis to an insurance company on the understanding that the latter will protect the former from unpredictable risks that might be incurred in the future. A higher premium possibly has comprehensive insurance coverage for roofing contractors. Ordinarily, the riskier a business, the higher is the premium most times, and the more is the coverage against risks.

A ridiculously low premium price should elicit concern. This could mean less coverage for one’s business, and the more it is prone to risks. Though, a higher premium doesn’t necessarily translate to comprehensive coverage. Nonetheless, the financial risks attached to roofing companies demand a sizable amount of premium to be paid.


Advert companies are paid handsomely to market products and services. Commercials don’t give a true picture of how a company operates in real life. Referrals from friends, business partners, entrepreneurs can be counted on most times to know if a roofer has good insurance for his business. Trust me, people don’t want to refer you to a bad product or service. When an insurance company is forthcoming, clients would be its unpaid brand ambassador and PR managers.

Final words

Each small business is unique and can benefit from working with an insurance advisor that understands its specific needs and goals. As a roofing contractor, it might feel a bit overwhelming to compare your options to purchase roofing insurance and find the right insurance program.

To find information on contractors’ insurance, you can consult an experienced insurance agent at Contractors Liability and get information on each of their products and make the comparison yourself. Ask us which type of insurance is best for your roofing company. Moreover, we specialize in insurance for the construction industry. We will also give you a free quote in just 5-minutes.