Having dependable contractor insurance is important for skilled trade professionals in Ontario. A lot can happen on the job site or at the office that could put your operation in jeopardy.
Without the right insurance coverage, a simple mistake could cost you your business. It could significantly impact your ability to compete. You need insurance coverage that is built specifically for your business.
Are you a general contractor, sub-contractor, independent contractor, construction tradesperson, or operate a home based contracting business in Ontario? Our insurance experts will help you find a policy offering protection for your business, employees, equipment and more. Whether you are at the office or on the job, contractors insurance puts your mind at ease.
Contractors have unique insurance needs. Depending on your industry and the type of work you do, your insurance needs will vary. Your coverage needs can change over time as your business services evolve. Here are some of the types of contractors insurance to consider :
Talk with one of our experienced insurance experts today to assess your insurance needs. Compare contractor’s insurance quotes to have the best of both worlds. Get great coverage and the lowest insurance rates.
We know that you are busy running your contracting business. That's why we make it easy for you get the best rates and coverage on contractor insurance in Ontario.
Comparing the cheapest quotes and coverage is easy with ThinkInsure :
Tell us about your contracting business and the coverage you need.
We’ll compare quotes and coverage from the top contractors insurance companies.
We'll help you select the best rate and coverage for your contracting needs. Then you buy your policy and can get back to work.
Contractor insurance costs vary in Ontario. There is no one size fits all contractor insurance cost. Your insurance rates are as unique as your business.
Determining costs involves considering many different factors. They include your industry, size of business, location, and the unique risks to your business.
Some of the key factors that affect your insurance premiums are :
Contractors insurance is a specific type of business insurance that provides coverage for a variety of professional contractors. It addresses risks specific to contracting professionals. It offers coverage for equipment and tools, commercial vehicles, commercial property insurance, business liability coverage, and more.
Contractors insurance is ideal for plumbers, electricians, landscapers, home renovators, HVAC, and other many other professionals.
All contractors must have a contractors insurance policy in Ontario. If you operate a contractor business in Ontario, you need to register with the Workplace Safety and Insurance Board.
There are no specific rules about the level of coverage required. Failure to have adequate contractors insurance exposes you to significant risk. It can hurt your ability to win contracts, secure loads and grow your business.
All types of contractors need to purchase insurance. This includes :
Contractors insurance is for unique for construction businesses. It’s for small and independent construction companies or individuals that offer a variety of skilled trade services.
Contractors insurance is available for many trades :
Independent contractor’s liability insurance is a must-have. Whether you are working onsite or at the office, contractors face a variety of unique risks to their business :
These are all liabilities. Liability insurance for contractors provides you with financial protection against claims and lawsuits.
Having a contractor certificate of insurance is a very important trust factor. Here are some key reasons why you need contractor insurance in Ontario :
At ThinkInsure, we know that contractors have unique insurance needs. To help you get the contractors insurance policy you need, our experts will ask the right questions to help you get the best coverage in Ontario.
We offer contractors insurance that protects your business, employees, tools and equipment. Through our large insurance partner network, we offer flexible coverage options at the lowest insurance rates.
We know that you have worked hard to protect what you’ve built. You have invested your time, money, and effort into becoming the contractor you are today.
Our insurance solutions help you protect your investments. Avoid any major setbacks or unforeseen events that could impact your business. We have the insurance solutions you need and at affordable contractors insurance rates.
Starting a new construction or contracting company? Is it time to renew your current coverage? Contact us today for a business assessment and quote. We’ll happily take a look at your current policy and help you explore your options and save you money.
Learn more about contractor’s insurance policies. Check out these common questions about insurance for contractors and trade professionals :
Construction insurance is very similar to contractors insurance. Use of the terms is interchangeable. They refer to the same types of coverage for construction professionals and contractors.
Construction insurance is also used when referring to builders risk insurance or construction liability insurance. This type of insurance provides coverage for named perils during building and renovation projects.
Yes. Professional indemnity insurance is a form of contractor’s liability insurance. You need it if you offer advice or provide services. It covers you if you provide bad advice and cause financial loss for a customer.
Without professional indemnity insurance, you could have challenges getting new contracts.
A contractors insurance policy provides you with coverage in four key areas :
It depends on your policy. Check to make sure subcontractors have coverage under your policy before hiring them to do work. If they do not have coverage in your policy, ensure they have their own policy.
Yes. All types of contractors need an insurance policy. You will need a minimum of $2 million of liability coverage to work in Canada. You may need additional coverage depending on your industry and work.
Many small contractors overlook the importance of errors and omissions insurance. It can help fill gaps and provide you with coverage that goes above and beyond your general liability coverage. It’s worth considering.
Contractors all risk insurance (CAR) provides comprehensive coverage. Get protection against all risks from damage claims, third party injury and other named perils.
It provides additional, non-standard coverage that’s not part of standard contractor liability coverage, giving you more protection. The coverage extends for the duration of the project.
Equipment floater insurance provides coverage for loss or damage to contractor equipment while in transit. Common equipment covered under this type of policy includes backhoes, diggers, and other similar equipment. You have coverage for owned, rented, and leased equipment under the policy.
Yes. At a very minimum, you need to have a general liability insurance policy. Without it, you cannot operate as a contractor. You need this to be able to legally work. Without it, you are exposing yourself to significant risk.
It depends on the nature of your business. The type of work, number of employees, size of projects all need to be considered. If you work on residential projects you’ll need less than if you work commercial jobs.
Speak with a contractor insurance expert to get an assessment of your coverage needs.
Yes. Even if you only do small jobs, you need to have contractors insurance. All types of contractors need coverage.