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Roofing Insurance for New Hampshire Contractors

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From New Hampshire Workers’ Compensation Insurance to General Liability, Commercial Auto Insurance More We Are Your Easy & Stress Free Construction Insurance Provider in New Hampshire State!

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Business Insurance for Roofing Contractors in New Hampshire

As a roofing contractor in New Hampshire, protecting your business from unexpected financial losses that can jeopardize your operations is crucial. Insurance is a necessary expense and a strategic investment that safeguards your business. In this comprehensive guide, we will explore the various types of insurance that are essential for roofing contractors in New Hampshire. From General Liability Insurance to Workers’ Compensation Insurance, Commercial Auto Insurance, Builder’s Risk Insurance, Inland Marine Insurance, Commercial Umbrella Insurance, and ACORD Certificates, we will provide detailed insights into each of these policies and their importance for contractors in the state.

General Liability Insurance for Roofing Contractors in New Hampshire

General Liability Insurance is a cornerstone policy for roofing contractors in New Hampshire. It provides coverage for third-party claims related to bodily injuries and property damage. If a visitor sustains an injury on your job site or if your operations inadvertently cause damage to a client’s property, your General Liability policy can cover the associated costs. It also protects against claims of advertising injury, such as copyright infringement or defamation resulting from your promotional materials.

It’s important to note that General Liability Insurance does not cover everything. For example, if an employee gets injured, your Workers’ Compensation Insurance would handle it, not your General Liability policy. It also excludes coverage for professional mistakes or intentional damage requiring separate policies. The cost of General Liability Insurance for contractors in New Hampshire can vary based on factors such as the size of your business, operational risks, and claim history.

Workers’ Compensation Insurance for Roofing Contractors in New Hampshire

In New Hampshire, any business with employees, including roofing contractors, must carry Workers’ Compensation Insurance. This policy provides coverage for medical expenses, rehabilitation costs, and a portion of lost wages if an employee gets injured or becomes ill due to their job. It can also provide death benefits to the family of an employee who dies from a work-related cause.

Workers’ Compensation Insurance costs are typically based on factors such as the type of work your employees do, the total payroll, and your claim history. In the construction industry, premiums usually range between $1,000 and $3,000 per year per employee. However, roofing contractors’ costs may be higher due to the nature of their work.

Commercial Auto Insurance for Roofing Contractors in New Hampshire

New Hampshire has specific minimum requirements for Commercial Auto Insurance. However, many businesses opt for higher limits given the potentially high costs of vehicle accidents. The average cost of Commercial Auto Insurance in New Hampshire ranges from $1,200 to $2,400 per vehicle annually. Factors such as the type and number of vehicles, driving records, and usage can impact the premium.

Builder’s Risk Insurance for Roofing Contractors in New Hampshire

Builder’s Risk Insurance is essential for roofing contractors in New Hampshire working on projects under construction or significant renovations. This policy covers buildings and materials from damages from events like fire, theft, vandalism, and certain weather-related damages. However, it’s important to note that Builder’s Risk Insurance usually does not cover damages due to faulty workmanship, design errors, or materials. It also doesn’t cover tools or equipment, which require separate coverage.

The cost of Builder’s Risk Insurance in New Hampshire is typically a percentage (1-4%) of the total construction cost. Factors such as the project’s value, duration, and type of construction can influence the premium. It’s important to consult with your insurance agent to ensure you have adequate coverage for your specific projects.

Inland Marine Insurance for Contractors in New Hampshire

Inland Marine Insurance goes beyond protecting your tools and equipment while they’re in transit or off-premises. It can also cover a wide range of other property types that standard property insurance might not cover. For roofing contractors in New Hampshire, Inland Marine Insurance is especially relevant for covering high-value equipment like roofing nailers, shingle cutters, and other specialized tools that are vital to your operations.

While Inland Marine Insurance offers comprehensive coverage, it’s important to be aware of the exclusions. Typical exclusions may include normal wear and tear, insects or vermin, rust, corrosion, war, nuclear hazard, and government actions. It’s crucial to thoroughly read your policy or consult your insurance agent to understand what is covered and what is not.

Commercial Umbrella Insurance for Roofing Contractors in New Hampshire

Commercial Umbrella Insurance provides extra liability protection for roofing contractors in New Hampshire when the cost of a claim exceeds the limits of existing liability policies, such as General Liability, Commercial Auto, or Employers Liability coverages. This policy is particularly beneficial in severe incidents like multi-vehicle accidents or significant property damage claims that could potentially lead to financial disaster for your business.

In New Hampshire, the annual premium for $1 million in Commercial Umbrella coverage typically ranges from $400 to $800. However, depending on your business’s risk profile, the premium can be higher. Commercial Umbrella Insurance offers additional peace of mind by providing extended coverage beyond the limits of your primary policies.

ACORD Certificates for Roofing Contractors in New Hampshire

ACORD Certificates are standardized forms that provide proof of insurance. They outline the details of your insurance policies, including the types of coverage, policy limits, and effective dates. While these certificates don’t alter insurance policies, they are often required when entering contracts or bidding on projects. ACORD Certificates allow clients, lenders, or other interested parties to quickly verify your insurance coverages without needing to review the policies.

Business Insurance for Roofing Contractors in New Hampshire

Business insurance is an important protection for contractors in New Hampshire, as it can help protect against financial losses resulting from accidents, injuries, and other unforeseen events. Some of the key types of insurance that contractors in New Hampshire should consider include contractors general liability insurance, workers’ compensation insurance, commercial auto insurance, builders risk insurance, inland marine insurance, and commercial umbrella insurance.

It is important for contractors in New Hampshire to work with a trusted insurance provider like us to ensure that they have the right coverage in place for their business. We are a reputable insurance provider that can help contractors understand their insurance needs and find the best rates and coverage options to meet their specific needs.

Your Insurance Questions Answered for Roofing Contractors in New Hampshire

Get answers to your most common questions from Contractors Liability

For General Liability Insurance in New Hampshire you need $1,000,000 per occurrence and $2,000,000 aggregate almost 100% of the time. 99% of all General Liability policies we sell in New Hampshire are $1,000,000/$2,000,000.

For Commercial Auto Insurance in New Hampshire you need $1,000,000 CSL meaning $1,000,000 Combined Single Limit for Bodily Injury and Property Damage to the other party combined. To protect your New Hampshire vehicle you need to have Comprehensive and collision coverage. Commercial Auto Collision Insurance in New Hampshire covers any collision and Comprehensive Commercial Auto Insurance covers anything but collision.

For Workers Compensation Insurance in New Hampshire you need $500,000/$500,000/$500,000 in general. This covers your workers in the event of a claim where the owner is liable up to $500,000. In 99% of cases the owner is not liable and coverage for workers compensation is unlimited.

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