General liability cost


#1

I am trying to collect some information on insurance at the moment and I was curious what everyone is paying for their general liability insurance and how big the policies are. I have heard everything from 1200 a year up to 5k a year from people around my area that I have talked to.


#2

for a “roofing” policy it should probably start around $7500 for less than a 1/2 million in annual sales.


#3

What if Im subbing all my work out with the crew to have their own insurance and comp?


#4

make sure you check thier comp. if they are not properly insured…when you get audited (and you will) they will make you cover thier comp.


#5

thanks for the advise. I will most likely be calling to check that their policies are still active. Unfortunately Im sure there are some out there that had it at one point and cancelled but kept the certificate saying its still good!


#6

i pay 1700/ year for 1 million coverage. not covered for fire though so no torchdown. but i am sole proprietor. was quoted 4500/ year for same coverage as a partnership 5 or 6 years ago.


#7

dont just ask or call, you need the actual certificate in your hand showing you as the certificate holder. Also call the carrier and make sure it covers roofing.


#8

Insist on getting listed as an “Additional Insured” on any subs certificates.

This way, if they ever cancel, the agent is supposed to notify you directly, so there are no surprises.

Ed


#9

good to know. thanks for the info.


#10

When we started, I was quoted about $2,000 per year for up to 200,000 in revenue. The coverage was $2,000,000.


#11

:o 3100.00 for one year for 1,000,000 in ny gen lib


#12

what company are you guys using?


#13

Im more than double that and im in NY…who is your carrier?


#14

what company are you using , i’m paying 4 times that


#15

i think we are confusing 1 million in coverage with 1 million in sales.

The more your sales are…the higher the cost will be.

The longer you are in business with no claims…the lower the cost will be.


#16

my sales are no where near a million. 1 crew, small area,no storm chasing and paying around 5600 per yr.


#17

I’m paying $1900/year plus $250/year for each sub contract crew I have working for me. This policy is based on $2million liability, $500 deductable and on a stated gross income of $400,000/yr.

All the best with your search!


#18

Eric the roofer,who are you using for $1900\yr.for 2mill.?


#19

I’m through a broker with Blue Circle Insurance, I have my SCIO Certificate of Insurance on my here (actually it’s even posted on my website calgary-roofing.com/6_must_h … ontractors) however I’ll admit I’m not sure which company my broker chose. I’ve just sent her an email to find out, will post the response.

I should also mention I do not use any torches on the roof, that would have indeed bumped up the rate.

Anything else, feel free to ask away.


#20

Thanks Eric makes sense now I have torch also on mine. 8)