What is the cost of a waiver of subrogation endorsement on a contractors’ liability policy?

If you’re in the construction industry, you expect to receive a certificate of insurance requests on your contractor’s liability policy often. In some cases, you will receive a request for a waiver of subrogation endorsement on your general liability policy. I speak about waiver of subrogation in other BLOGS and VLOGS, which I invite you to read and view. In this BLOG and video, I will explain to cost of a waiver of subrogation endorsement on a contractors’ liability policy.

THE COST OF A WAIVER OF SUBROGATION

The market for contractors’ liability insurance has remained soft for the last 8-10 years. It is standard practice for most insurance companies to include a blanket waiver of subrogation endorsement on their policy and at no cost. Further, most additional insured endorsements in a contractors’ general liability policy include waiver of subrogation, primary wording, and non-contributory language.

WHAT IF MY POLICY DOES NOT CONTAIN A BLANKET WAIVER?

In some cases, your contractors’ liability policy will not contain a blanket endorsement with a waiver of subrogation language. In these rare instances, you should expect to pay $100-$300 for the cost of a specific waiver of subrogation endorsement.

CHECK YOUR POLICY

I recommend that you read your policy and check the language included in your additional named insured endorsements. You may also want to check for a waiver of subrogation endorsement separate for your additional named insured endorsement. Some insurance companies and programs will add the waiver as a separate endorsement. An example is the CG 24 04 form.

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