Contractors Insurance Requirements in New Hampshire
New Hampshire requires roofers and other contractors to carry workers’ compensation insurance. Liability insurance is optional.
However, if you’re invested in your business and want to keep it protected, it’s worth getting a more comprehensive insurance policy. At Affordable Contractors Insurance, we specialize in finding contractors the right insurance policies for the right price.
Why Should I Get New Hampshire Roofing Contractors Insurance?
If you get the bare minimum residential roofing insurance in New Hampshire, your workers are protected if they get injured on the job. But other potential damages — like injury to a third party, damage to a customer’s property, or loss of tools or equipment — aren’t covered.
These incidents might sound like they can’t happen to you. But in virtually every case, it’s better to be safe than sorry. For most businesses, the cost of an insurance policy is a small fraction of revenue.
If you are unfortunate enough to experience an incident like damage to materials or injury to a third party, you’ll likely find that there are more associated costs than you anticipated. If your materials are damaged in transit, the delay in your work can cause you to lose revenue on top of paying to replace the materials.
If you injure a third party badly enough, you may be stuck paying more than medical costs. If the case goes to court, you’ll need to pay for an attorney. If the judge awards the injury victim a settlement, you will need to pay for it yourself.
When you compare the cost of an insurance premium to the costs you’ll incur in the event of an incident, it becomes clear that it’s better to have insurance and not need it than it is to need insurance and not have it.
How Do I Choose a Contractors Insurance Policy?
There are several different factors that determine the kind of coverage you need. Here are a few key things to keep in mind when choosing a policy:
- Your annual sales
- The size of your business
- The cost of your materials
- Whether you work on residential or commercial properties
- The type of work you do (roofing work, general contractor work, etc.)
You also may find that some property owners require a certain level of coverage before hiring you. This is especially true of commercial property owners, as the potential for damages is quite high.
If you aren’t sure what kind of New Hampshire contractors or roofing insurance coverage you need, don’t worry. Our knowledgeable agents can make recommendations and help you decide.
Let ACI Help You Find Peace of Mind
At ACI, we only insure contractors, so we understand what you need in a policy and what you don’t. We also understand the importance of affordability, so your money goes further with us.
Most of our customers save at least 15% compared to other policies, and we can get you a quality policy for 20% down.
If you need residential or commercial roofing insurance in New Hampshire, contact us today to get started on your free quote.
