insurance cost?

[grumpydasmurf]

I am putting together a business plan and I am trying to figure out how much I need to budget for workmans comp and general liability.

Should I get roofer's insurance, general contractor's inurance, or do like my boss does and get painters insurance :)

[Rich]

I think $350,000 in G/L was around 800 / month and work comp was in the range of 10% of payroll (don't quote me on this). The cost can be increased or decreased by your EMR (experience modification rate). With 100,000 in payroll at 10% with an EMR of 2 you would pay $20,000 but with an EMR of .5 you would have $5000. Of course roofing in the residential market is the highest rating so you might get over 10%.

[grumpydasmurf]

What about insurance for the trade you are in... like GC, roofer, painter etc..? This may be a dumb question but I KNOW you have to tell your insurance what trade you are in.

Is it better to say GC, Remodeler, roofer etc?

[Rich]

I would say GC would be the best. Because typically a GC doesn't have it's own workforce. And this allows you to do about any type of work. For quotes I would just call an insurance agent and ask for a GC insurance quote.. call another one for remodeling.. etc.