Roofers insurance - Contractor Talk - Professional Construction and Remodeling Forum

Grumpy · 01-13-2004, 09:55 PM

Many of the roofers I communicate with on the internet complain about roofers insurance. The prices are going sky high and many companies are dropping roofers as a whole alltogether.

What are your thoughts on this? How do you keep your rates down?

theman · 01-13-2004, 10:38 PM

Grumpy

New York State requires contractors to have workers Compsation
before a building permit is issured. I know it's very expensive. I guess this is part of doing business. How about the guy who doesn't have insurance and you are bidding against him
AL

Grumpy · 01-14-2004, 08:21 AM

In the state of IL we are only required to have General Liability (GL) but the respectable companies also have Workmans COmp (WC).

pgriz · 01-16-2004, 10:52 AM

Quote:

Originally Posted by Grumpy

In the state of IL we are only required to have General Liability (GL) but the respectable companies also have Workmans COmp (WC).

As you know from other correspondence, we pay it all (commercial liability insurance, workman compensation insurance, performance bond, licensing fees, etc.). Our prices are higher than the competition, and obviously, we don't sell on price. We do well because we've targetted a specific niche where price is lower down the priority list for our customers, and as long as we satisfy them on the more important criteria, we don't worry very much about price. However, despite the cost, it's not really a problem, because we are know as a very high-quality shop, and we attract very good workers who want to work in this environment. The end result is that we pay more, but we get more effectiveness, better quality, and almost no call-backs.

01-25-2004, 09:17 PM

In Minnesota here we need general liability, workers comp, performance bond and have either a residential roofing contrators license or have a general liablity license.
We can do new roofs without the lic. and bond but to do tear offs or re roofs you must be licensed to pull the permit. However, in some areas of the state no permits are required so anybody can do the roofing.
If you have a res. roofing lic. you can only do roofing but all types of roofing are included (flat, pitch, shakes you name it).
With a general lic. you can do everything but heating, plumbing, and electric.
I opted for the roofing license as I know nothing about building.

And, yes roofing insurance is high these days, until two years ago we ran on general liability insurance and not roofing insurance!
For $500K liability it's over $2,000 a year.

David Ross · 02-26-2008, 12:37 PM

Stay on top of the claims- that will keep the mod down- and policy down.

Slyfox · 02-26-2008, 02:15 PM

We have to carry Workers Comp and Liabilty here but no state license.

I pay over 3000.00 a year for Liability, this year is 2950.00 and not sure why but thats the lowest ever.
Comp is paid according to payroll of course, highest i ever paid was 28,000.00 but i had a rebate/return of 6500.00 of that.

I have never had a claim on either insurance as of yet, can only imagen what it would be if i ever did.

It's a pain when i'm bidding against some of the scabs in the area who are cheating the system and getting away with it but its a plus when i bid against the larger companies because they have to allow for insurances and payroll taxes like me but they also have to include write ups for,
office help, sales reps, supervisors etc of which i have none,
my wife and i are the office help and i am the sales rep, supervisor etc.

2ndGen · 02-26-2008, 02:54 PM

Quote:

Originally Posted by theman

Grumpy

New York State requires contractors to have workers Compsation
before a building permit is issured. I know it's very expensive. I guess this is part of doing business. How about the guy who doesn't have insurance and you are bidding against him
AL

One of my woes here in NY Al. I just got my insurances all up to date (Liability, Comp, etc...). I'm set for the season.

The only real problem that I see are that homeowners want a fully insured Roofer, but don't want to pay what it costs to properly operate a Roofing Company.

2ndGen · 02-26-2008, 02:55 PM

Quote:

Originally Posted by pgriz

As you know from other correspondence, we pay it all (commercial liability insurance, workman compensation insurance, performance bond, licensing fees, etc.). Our prices are higher than the competition, and obviously, we don't sell on price. We do well because we've targetted a specific niche where price is lower down the priority list for our customers, and as long as we satisfy them on the more important criteria, we don't worry very much about price. However, despite the cost, it's not really a problem, because we are know as a very high-quality shop, and we attract very good workers who want to work in this environment. The end result is that we pay more, but we get more effectiveness, better quality, and almost no call-backs.

Well said PGriz.

2ndGen · 02-26-2008, 02:58 PM

Quote:

Originally Posted by Slyfox

We have to carry Workers Comp and Liabilty here but no state license.

I pay over 3000.00 a year for Liability, this year is 2950.00 and not sure why but thats the lowest ever.
Comp is paid according to payroll of course, highest i ever paid was 28,000.00 but i had a rebate/return of 6500.00 of that.

I have never had a claim on either insurance as of yet, can only imagen what it would be if i ever did.

It's a pain when i'm bidding against some of the scabs in the area who are cheating the system and getting away with it but its a plus when i bid against the larger companies because they have to allow for insurances and payroll taxes like me but they also have to include write ups for,
office help, sales reps, supervisors etc of which i have none,
my wife and i are the office help and i am the sales rep, supervisor etc.

This year, for my Comp and Liability (just for myself),
I'm looking at about $7,000.

I'm not worried about paying more because the business supports itself.
The more work I get, the more insurance I'll need...the money will be there automatically.

dougger222 · 02-26-2008, 06:29 PM

I've never had a claim, my brothers have never had claims, my dad never had a claim, my cousins never had claims and my uncles have never had claims.

Combined your looking at over 100 years with no claims. Only two of us are licensed though one Uncle and myself.

My roofing liability insurance on a 2 million dollar policy went down this year. Down $9 from last year to $3,003 including $100 for one additional insured which I haven't done work for in 13 months. They wanted it so they got it!

Max240 · 02-28-2008, 12:29 AM

Quote:

Originally Posted by dougger222

I've never had a claim, my brothers have never had claims, my dad never had a claim, my cousins never had claims and my uncles have never had claims.

Combined your looking at over 100 years with no claims. Only two of us are licensed though one Uncle and myself.

My roofing liability insurance on a 2 million dollar policy went down this year. Down $9 from last year to $3,003 including $100 for one additional insured which I haven't done work for in 13 months. They wanted it so they got it!

Out of curiosity who is your ins. company? Do they ensure in other states as well? thanks much.

dougger222 · 02-28-2008, 06:22 PM

Quote:

Originally Posted by Max240

Out of curiosity who is your ins. company? Do they ensure in other states as well? thanks much.

Northfield Insurance Company

CDRoofing · 03-13-2008, 10:26 PM

How do you get a roofing license from the state of MN? Who do you need to contact? Everyone says you need it, but noone seems to know where to go? Any help would be appreciated!!

**Ed the Roofer** · 03-13-2008, 10:35 PM

CDRoofingHow do you get a roofing license from the state of MN? Who do you need to contact? Everyone says you need it, but noone seems to know where to go? Any help would be appreciated!!

First, I would Google, "Roofing License In Minnesota". How hard did you try?

Ed

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River_Roofing · 04-14-2008, 01:08 PM

Man you guys have it made.
I have to carry at least a million dollar policy and it cost me 12,500.00 a year
With no claims in business for 28 years.

quadrophenia71 · 04-15-2008, 12:37 PM

We do 30 million a year and pay around 1,100,000 in premiums, welcome to the big time. New York Sucks when it comes to insurance.

MWINE · 04-29-2008, 03:11 PM

Insurance in Florida seems to keep going up every year. I was on the verge of closing my company due to the fact business slowed up and I couldn't afford the down payment for GL insurance. One of the contractors I work with gave me the info for the company he uses and it saved my business. I had bid on a big job and was about to lose it unless I got insurance and the certs to the contractor quick. I gave them a call and I got full coverage for work comp and gl with no down payment and pay as you go. My payroll, work comp, and gl are all bundled together and I only pay for the actual hours my guys work. No more guessing on what my payroll will be for the next year. They also let me split codes for every employee. If "Joe Blo" works 20 hours for drywall and 20 for framing, I get charged exactly, not for 40 hours of framing (the highest code) like every other insurance carrier does. And since everything is exact, there are no more audits at the end of the year. Give them a call it's worth the call. My agents name is Mike 727-953-5913 and the company is Construction Leasing Professionals.