Arizona Contractors: Coverage That Works for You
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Arizona Roofing Insurance Cost
What is the average cost for Arizona roofing contractor insurance polices? Roofing business insurance can start as low as $249/month. At ACI, we are professionals in finding the best prices depending on the business’s employee payroll and other key factors like yearly income.
Contracting businesses in Arizona pay an average median price for roofing liability insurance of approx. $250 to $305/month or $3,000/year. Typical workers comp insurance policies for roofing companies with $100,000 + of employee compensation can cost up to $8,400 and up per year. The cost will vary depending on the size of your roofing company and how much coverage is needed.
| Insurance Type: | Low Monthly Price: | High Monthly Price: | What is Covered? | Required: |
|---|---|---|---|---|
| Roofers General Liability | $250 | $305 | Property Damage - Bodily Injury - Faulty Work Damage | YES |
| Roofing Tools Coverage | $42 | $68 | NO | |
| Workers Compensation | 8.87% x Roofing Labor Costs | 8.87% x + up front costs of $1,250 | Workman's comp. will cover medical bills & lost wages of your roofers. | YES |
| Roofing Contractor Insurance Tips & Tricks: If you are an Arizona Roofing Company that is planning to utilize drones for roof inspections. Note: "Unmanned Aircraft" insurance for roofing inspection, typically is NOT covered with roofing general liability insurance policies. | ||||
Roofers Liability Insurance Requirements in Arizona
A CGL policy for roofing businesses should have at least a $2 million general aggregate limit, $1 million products-completed operations limit, $1 million personal and advertising injury limit, $50 thousand damage to rented premises limit, and a $1 million each occurrence limit. This coverage will protect contractors against claims of bodily injury or property damage caused by their services or products. It also covers any legal defense costs associated with a claim.
What Types of Insurance Do Roofers in Arizona Need?
Having the right coverage can help roofing contractors save time and money in the event of an unexpected accident or incident. Without it, they could be held financially liable for any damages that occur as a result of their work.
Roofing liability insurance covers third parties and any errors in the work you do. For instance, if your workers accidentally injure the property owner or another third party, your liability insurance will cover their medical costs and any additional settlement they receive.
There are a few different variables to consider when getting liability insurance, but one is whether you need commercial or residential insurance.
Commercial roofing insurance in Arizona is a bit different from residential insurance. Commercial liability insurance will usually require you to have more coverage — if you’re working on a very large project, you may need an umbrella policy that covers up to $5 million in damages.
Of course, there are other types of insurance you should seriously consider. These include commercial vehicle insurance and protection for your tools and materials. If you aren’t sure what types of coverage you need, one of our knowledgeable agents will be happy to help!
Let Affordable Contractors Insurance Help You Find the Best Arizona Roofing Insurance Coverage
Arizona roofing contractors should consult with an experienced insurance agent to ensure they are properly insured for their business needs. Doing so can give them peace of mind knowing that they are protected if anything goes wrong.
Even if it’s your first time finding a policy, our experienced agents can help you find the right one for you. Contact us for a free, quick quote today!
Contractors Insurance Prices in Arizona
No matter how careful you are, it’s possible that you or one of your employees could make a mistake on the job. And as some contractors have discovered, making a mistake while being uninsured may prove to be disastrous.
- $3,000/year or $250/month for decent policy +/- depending on size of company and features selected
- Tools-$10k of misc tools about $500/year add on or $42/month add on to GL
- Work Comp-8.87% times your roofing labor cost plus some up front costs-minimum $1,250 depending on your business structure
| Insurance Coverage Type: | Low Monthly Cost | High Monthly Cost | What is covered in my insurance policy? | Is this type insurance required for Arizona Contractors? |
|---|---|---|---|---|
| Liability for Contractors | $250 | $310 | Bodily injury to you or your construction workers, Property Damage | YES |
| Contractors Tools 10K in Coverage | $42 | $55 | Construction tools lost, stolen or damaged. | NO |
| Workers Comp | Up to 8.87% x your contractors labor. | 8.87% x contractors labor plus up front cost of a minimum $1,250 | Employees lost wages and medical bills due to on the job accidents. | YES |
| Tips & Tricks for Arizona Contractors Insurance cost: If you are planning on using a drone for your construction business to do inspections NOTE: Drone protection is typically NOT included in a contractors general liability insurance policy. | ||||
You’ve worked hard to build your business. Let ACI work hard to protect it with the right contractors insurance.
Arizona Contractors Insurance Cost: The Essentials
There are seemingly endless types of insurance for construction companies in Arizona. But whether you work in Phoenix, Tucson, Mesa, or a smaller area, it’s essential to have two types of insurance — workers’ compensation and general liability.
Workers’ compensation is designed to protect your employees against injury. If an employee suffers an injury on the job, your insurance will cover their medical bills. It also will pay for any wages lost due to the injury.
General liability insurance protects your company against a variety of claims. If a customer or another third party files a claim of property damage or bodily injury against you, your insurance will cover costs associated with the claim, including court costs, attorney fees, and any settlement ordered by a judge.
Before buying a workers’ compensation or general liability policy, make sure you understand the policy limits required by law. Depending on whether you primarily work in Chandler, Gilbert, or elsewhere, you may find that different areas have different insurance requirements.
Other Types of Insurance to Consider
If you’re shopping for general contracting insurance in Arizona, you’ll soon find that there are many more types of policies to consider. Some of these are other forms of liability insurance:
- Professional Liability Insurance/Errors and Omissions (E&O) Insurance: Protects you from liability if a customer claims you made a mistake
- Wrap Insurance: Complete liability coverage for everyone working on one project or multiple projects
- Subcontractor Default Insurance: Protects you if one of your subcontractors violates a contract by failing to perform work or by performing faulty work
- Pollution Liability Insurance: Covers you if a third party claims you have violated environmental protection laws
Other types are designed to protect your company’s property or projects:
- Commercial Auto Insurance: Covers work vehicles in the event of damage
- Builders Risk Insurance: Protects any buildings that are being constructed or renovated
- Inland Marine Insurance: Covers any building materials that are being transported
- Commercial Building Insurance: Protects offices, storage buildings, and any other buildings your business owns
Whether this is your first insurance policy or the latest of many, deciding which type of policy to get can be a confusing, often overwhelming decision. Choosing the right insurance is an essential part of risk management, and it often involves a careful risk-benefit analysis.
The good news is that you don’t have to do that risk-benefit analysis on your own. When you work with ACI, our experienced agents can talk to you about your business to help you decide which types of coverage you need.
Find Affordable Contractors Insurance Cost in Arizona
Purchasing Arizona general contractors insurance is one of the most important investments you can make in your business. Don’t take this step with just any insurance company!
At Affordable Contractors Insurance, we only insure contractors. Our agents understand both the world of contracting and the world of insurance. We can help you find the right policy for your business at a great price. Contact us today for your free quote.