Insurance for Alberta contractors
From Lethbridge to Calgary, Edmonton to Fort McMurray, Grand Prairie to Banff, no matter where in Wild Rose Country you work, contractors and professional tradespeople across Alberta have built the province up to what it is today.
They ensure the buildings, homes, and infrastructure in cities, towns, and rural regions throughout Alberta is world-class. They plan, manage, construct, monitor, and coordinate all aspects of construction for every project they are entrusted to complete. With all that responsibility comes significant risks that contractors and self-employed tradespeople need to address with a customized contractors’ insurance policy.
Why is contractors’ insurance important?
Whether constructing a new residential community, paving a highway, installing plumbing pipes in a new high-rise condominium, or rewiring an electrical circuit board, the risk of errors, accidents, or unexpected events like the impacts of severe weather is always present.
Contractors’ insurance that is tailored to address the unique needs you face is the backbone of your risk management strategy, and the safety net all professional tradespeople require should something go wrong, or if you are accused by a client of wrongdoing. A customized contractors’ insurance policy is designed to provide you with financial support if you suffer loss or damage from an insured risk, or are named in a third-party bodily injury or property damage lawsuit.
What does it cover?
A comprehensive contractors’ insurance policy may include the following types of coverages:
Do all independent contractors in Alberta need insurance?
Yes. Regardless of the type of work you do, all independent or self-employed contractors across Alberta should safeguard their businesses, finances, and reputations with a customized insurance policy. In many cases, it may be a legal requirement for you to have insurance. For example, if you need to obtain a municipal building permit, the municipality will want to see your proof of insurance or certificate of insurance document.
Zensurance helps protect a wide range of self-employed and independent contractors and small business owners, including:
How much does contractors’ insurance in Alberta cost?
Most Alberta contractors buy a policy with up to $2 million of general liability coverage at a starting annual premium of $499 per year.
The actual cost of your policy that insurance companies consider depends on several factors, such as:
- The industry you’re in and the services you provide
- Your business’s size and location
- How many employees do you have
- Years of experience
- Your annual and projected revenues
- Your history of insurance claims
Speak to one of our licensed insurance brokers to better understand what options you have, and ensure all possible risks you face are accounted for in your policy.
Common claims scenarios
Frequently asked questions
Resources for Alberta contractors