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Coronavirus and Roofers Insurance

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Old 06-27-2020, 09:56 AM   #1
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Coronavirus and Roofers Insurance

Coronavirus and Roofers Insurance

We all know that the construction industry is under severe threat. The impact of the COVID-19 pandemic is likely to result in lasting effects on the whole construction industry. As a Roofing contractor, your business is one of the many that are finding their projects and prospects affected by disruptions caused by the Coronavirus.


Quarantine, shut down of construction sites and projects, a disrupted supply chain, and delays in the start and completion of projects have all had a serious impact on roofing businesses. In fact, market volatility as a result of the Coronavirus may jeopardize the future of many projects.

Some economic experts are suggesting that business owners take no action yet. They are correct to say that the true devastation of the Coronavirus cannot yet be measured. They may not be right to suggest that contractor business owners should sit on their hands. It could end up being so much worse if you don’t take action.

The price of prevention

There is very little control that roofing contractors have over the actions of others in response to the Coronavirus. These actions have – and will continue to have – a negative impact on your roofing projects. Here are 2 examples:
1. The impact of government decisions

For health and safety reasons many construction sites have been closed by government officials. The reasoning is to prevent or reduce the spread of coronavirus through social distancing measures.

However, the financial impact of these closures is huge. Many contractors are asking whether these measures worth the cost to the economy in general and your business in particular.

There is another potential financial loss you may not have considered. You could find yourself facing third party claims of health and safety negligence resulting in bodily injury. This would fall under your General Liability protection.
2. The impact of stakeholder decisions

Lenders are assessing their position. The viability of many projects has declined, and may well continue to decline. Finance for construction projects is being withheld or withdrawn. New projects may not get started; projects under construction may not be completed.

Where does this leave your roofing business? You could be incurring costs as a result of the project delay. If you have Builder’s Risk coverage, you could be covered for direct costs such as:
  • Site security costs to prevent theft and vandalism
  • Costs relating to procurement and supply chain disruptions
  • Project financing costs
Next steps

The pandemic has revealed that many roofing contractors across the country are underinsured, or incorrectly insured, or not insured at all. This is a good time to evaluate the roofing contractor coverage that you do have. Besides the obvious question about whether your roofing business is covered for the impact of coronavirus, two of the questions to ask your insurance agent are:
  • Is your current insurance program out dated and how will this impact any claims?
  • Can insurance assist you to future proof your roofing business?
For assistance with any roofing insurance questions, speak with our agents at Farmer Brown Insurance. Call (888) 973-0016


Last edited by roofermann; 06-27-2020 at 12:16 PM.
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