Insurance for Ontario contractors
From Toronto to Ottawa, Hamilton to North Bay, London to Windsor, independent contractors, tradespeople, and small contractor business owners face a wide range of risks. That calls for a comprehensive liability insurance package for protection from third-party bodily injury or property damage claims.
A comprehensive contractors insurance policy in Ontario is designed to cover the broad range of risks independent contractors and tradespeople face. Different types of contractors face different risks, from third-party liability lawsuits to unexpected damages occurring because of severe weather. A customized policy that covers all possible risks and scenarios that may arise without warning is a must-have to safeguard your business and livelihood.
Why is contactors insurance important?
Life is unpredictable. The work all contractors do is vital to the creation, growth, and maintenance of residential, commercial, and government properties and infrastructure provincewide. But with that commitment and dedication to providing first-class services, contractors face a wide range of risks that could result in financial ruin if you’re not insured.
What does it cover?
A comprehensive insurance policy for all kinds of contractors may include the following types of coverages:
- Leased, Rented, Borrowed Equipment Insurance
How much does contractors’ insurance in Ontario cost?
Most Ontario contractors buy a policy with up to $2 million of general liability coverage at a starting annual premium of $550.
The actual cost of your insurance policy will be based on several factors, such as:
- The industry you’re in and the services you provide
- Your business’s size and location
- How many employees 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 those elements are, what options you have, and ensure all possible risks you face are accounted for in your policy.
Do all independent contractors in Ontario need insurance?
Yes. A broad range of contracting industries require independent contractors to have an insurance policy. Whether it is an Ontario licensing requirement, a necessity to obtain a municipal permit for a worksite or to protect themselves from third-party lawsuits and damages resulting from unforeseen events, tradespeople and contractors need to be insured.
Zensurance helps a wide range of independent contractors across various industries find the coverage they need, including:
Common claims scenarios
Frequently asked questions
Resources for Ontario contractors
Getting insured is quick and easy!
Zensurance recognizes the professionalism and specialized high-quality services independent contractors and tradespeople provide to their customers. As Canada’s leading business insurance brokerage, we represent our clients, not insurance companies. We strive to provide our clients with world-class customer service and ensure you are neither overinsured nor underinsured.
Getting insured is easy with Zensurance. Start by getting a free quote, which only takes a few minutes to complete. Our friendly, licensed brokers are insurance experts who can guide you through the process, assess your risk profile, review your coverages, and get your company the protection it needs at the best price possible.