Ontario Contractors Insurance

Small business owners and independent contractors across Ontario need to safeguard their livelihoods from the risk of third-party liability lawsuits and other risks with a customized insurance policy.

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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:

Commercial General Liability (CGL) Insurance

Commercial Property Insurance

Tools and Equipment Insurance

Builder’s Risk Insurance

Pollution Liability Insurance

Commercial Auto Insurance

Additional coverages to consider:

Professional Liability Insurance

Cyber Liability Insurance

Tenant Legal Liability Insurance

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 $450.

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:

Getting insured is quick and easy!

Complete our 5-minute online application for a free contractors insurance quote.

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Common claims scenarios

Problem: While conducting home renovation work in a customer’s basement in Ottawa, one of your employees accidentally ignites a fire that causes significant damage to the customer’s home, costing more than $20,000.

Outcome: Your commercial general liability coverage may pay for the damages to your customer’s home up to its limit, as well as your legal defence fees if they sue you.

Problem: A construction site you are working at is broken into overnight. The tools and equipment you stored at the site are stolen, costing you thousands of dollars to replace them. Unfortunately, it’s a common occurrence, as one contracting business in London, Ontario, knows too well. Since 2015, this company has been victimized by thieves 10 times.

Outcome: Your tools and equipment coverage may pay for the cost to replace your stolen tools and equipment and any other accessories or others’ property in your care.

Problem: While transporting materials and equipment to a jobsite in Toronto in one of your company’s vehicles, the employee driving it gets into a collision with another vehicle and is found to be at-fault for the accident.

Outcome: The third-party liability portion of your commercial auto coverage may pay for the damages to the other driver’s vehicle. If you also have optional collision coverage on your vehicle, it may pay for damages to your vehicle resulting from the accident.

Frequently asked questions

Do you offer insurance for seasonal work or per project?Zensurance

Do you offer insurance for seasonal work or per project?

No, but if your business offers different seasonal services, we can provide you with an annual policy. For example, a landscaping company that switches over to offering snow removal services in the wintertime.

Are contractors in Ontario required to have an insurance policy?Zensurance

Are contractors in Ontario required to have an insurance policy?

Yes. At a minimum, Ontario contractors are required to have general liability insurance, which provides protection in case of bodily injury or property damage to a third party at a worksite. Some projects may require you to provide a certificate of insurance. Ontario contractors who employ one or more employees are also required to have workers compensation insurance to protect their employees.

How are claims made by independent contractors and tradespeople handled?Zensurance

How are claims made by independent contractors and tradespeople handled?

Whenever an insured (that’s you) submits a claim to Zensurance’s claims team, we move immediately to report the claim to your insurance company and represent you by ensuring you get a fast response. Although we do not decide what the payout will be or if your claim will be honoured (that’s up to the insurance company), we do go to bat for our customers by ensuring they are informed every step of the way.

One of the biggest problems with ensuring your claim is settled to your satisfaction is having the right amount of coverage. Talk to one of our licensed brokers when you’re setting up your policy or renewing it. They can guide you through the process, answer your questions, and ensure you have the adequate coverage you need, so you don’t have to worry if something goes wrong and you need to file a claim.