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Insurance 101: Contractors & Trades
Your business is built on a foundation of hard work, years of dedication and a selection of tools and equipment. Our team of experts understand what it means to protect your investment, and provide exceptional policy solutions for a variety of industries.
You’ve perfected your craft. And we’re here to protect it.
A comprehensive plan that protects your business and projects, and offers you peace of mind in a competitive industry? Don’t settle for anything less. Elevate your coverage today to ensure your business thrives, no matter the job, environment, or challenge.
qualifications
Who needs contractor's insurance?
Did your contracting profession make the list? Contact us for a quote.
Construction Contractors
Home Renovation Contractors
Residential Painters
Landscapers
Construction Contractors
Home Renovation Contractors
Residential Painters
Landscapers
Cleaning Services
Plumbers
Window Installers
Drywall Contractors
Cleaning Services
Plumbers
Window Installers
Drywall Contractors
Residential Electricians
Commercial HVAC Contractors
Solar Energy Contractors
Roofing Contractors
Residential Electricians
Commercial HVAC Contractors
Solar Energy Contractors
Roofing Contractors
Handypersons
Handypersons
Coverages
What’s covered with your contractor’s insurance in Ontario? We’re glad you asked.
Bodily Injury
This provides coverage in the event of a financial loss initiated by an injury on the job (at the hands of yourself or an employee.) Note: this does not protect your employees.
Property Damage
This coverage will provide the necessary funds to repair or replace any damaged items at a job site.
Advertising
In the event of a lawsuit claiming copyright infringement, this coverage provides protection to your business when advertising its services.
Reputation
A contractor’s liability policy, if selected, can provide coverage in the event your business is harmed by claims of libel, slander, malicious prosecution, and violation of privacy rights.
Medical Payments
This will provide the necessary coverage for medical bills and health-related payments.
Cyber Liability
Should your business store any personally identifiable information such as birthdays, credit card numbers, addresses and other key information, your business has cyber liability exposure and should take extra precaution in protecting sensitive data (with increased risk of a breach.)
Rental Premises
This coverage is provided to your business if you rent a location and the space is damaged while you are the occupant.
Work By Subcontractors
This special coverage extends to work that is performed by subcontractors, and can be added to your policy to provide enhanced protection for collaborative jobs.
Hired & Non-Owned Vehicle
In the event you do not have a commercial auto policy which provides hired and non-owned auto coverage, you will want to include this coverage extension for renting, borrowing or using a non-owned automobile for business.
Optional Coverages
Knowing whether to enhance your policy with these add-ons can make all the difference when faced with unexpected challenges in your business.
Commercial Property
Covers damage or loss of your business property, including tools, equipment, and materials, due to perils like fire, theft, vandalism, and more.
Commercial Auto
Covers Covers vehicles used for business purposes, including work trucks, vans, or company cars, against accidents, liability, and property damage.
Equipment Breakdown
Protects against the cost of repairing or replacing essential equipment and machinery that breaks down due to mechanical failure or electrical issues.
Inland Marine
Protects your vehicle from depreciation when deemed a “total loss”
Builder’s Risk
Specifically designed for construction projects, this coverage protects the structure under construction and materials on the site from damage or loss due to covered perils.
Frequently asked questions
Here’s what other contractors in Ontario want to know.
Pollution liability coverage is typically not included in standard contractors insurance policies. Contractors may need separate environmental liability insurance for such risks.
Subcontractors are often required to carry their own insurance to cover their work. However, the terms may vary depending on the contract and project specifications.
Yes, contractor’s insurance can often be tailored to meet the specific requirements of individual projects, including coverage for subcontractors and additional insured parties.
Operating without contractors insurance can lead to legal and financial consequences, including fines, lawsuits, and potential bankruptcy in the event of a significant claim or liability.
Yes, contractors insurance is essential for businesses of all sizes, including small contracting businesses. It helps protect against financial risks that can be especially detrimental to smaller companies.