Roofers Insurance in Missouri
The world of roofing insurance is a complex one — you can insure every part of your business from tools to job completion. However, the most important type of insurance in Missouri is liability insurance. Missouri requires roofers to carry at least $1,000,000 in liability insurance.
But when it comes to choosing a policy, “liability insurance” is more complicated than it sounds. At Affordable Contractors Insurance, we offer a type of liability insurance to suit every business.
Missouri Roofing Insurance Coverage: Claims-Based & Occurrence-Based
Broadly speaking, liability insurance protects your company in the case of property damage or injury to a non-employee. When selecting your policy, you can choose between claims-based insurance and occurrence insurance.
The following are some details you need to know about claims-based insurance:
- It covers incidents only if you make a claim during your coverage period
- It is generally cheaper than occurrence insurance
- It will not cover an incident that happened in your coverage period if you submit a claim after the policy has expired
This is an economical choice. But if you go with claims-based insurance, make sure you promptly file claims if anything goes wrong!
On the other hand, occurrence-based insurance:
- Will cover any incident that incurs a cost while your policy is in effect
- Will cover these costs even if the related incident happened before you had the policy
- Will often cover these costs even if you didn’t know about the related incident when you obtained the policy
Not sure which type you need? Don’t worry — at ACI, our agents only work with contractors, so they will be able to assess your business and recommend the best commercial and residential roofing insurance in Missouri for your business.
What Does Roofing Liability Insurance Cover?
Liability insurance for roofers in Missouri covers many potentially large costs, but it doesn’t cover everything. Most policies will cover the following:
- Property damage
- Non-employee injuries
- Any legal costs related to claims
Note that these policies typically will not cover injuries to you or your employees. For this type of coverage, you will need a separate workers’ compensation policy. You may also need separate coverage for commercial vehicles and any tools you own or rent.
You may want to purchase a contractor bond, also known as a surety bond. This type of bond will pay your client if your business is unable to complete a job. For instance, if you have an injury or fall ill and cannot fulfill a contract, a surety bond protects you from legal action.
Choosing Your Missouri Roofing Contractors Insurance Policy
At Affordable Contractors Insurance, we can find affordable policies that still offer ample coverage. We’ll prove it, too. When you get a quote for commercial or residential roofing insurance in Missouri, we’ll show you competitor prices to let you know whether you’re getting the best deal possible. Most of our customers save 15% or more compared to competitors.
Whatever you do, don’t wait until you’re facing an expensive lawsuit to get coverage. When you contact us for a quote today, our knowledgeable agents will be happy to answer any questions and help you find a policy that fits your needs and your budget.
