Contractor Insurance Quotes For a Safer Job Site

Your business is your livelihood. Your passion! And it’s up to you to ensure it’s safe and protected. 

As a contractor, you have the incredible opportunity to work in a wide variety of settings. To work with and for many different people. And to experience new challenges daily.

It’s exciting yet also demanding. And the results are always worth it in the end. That’s the thrill of working as a contractor!

But without the right coverage, these exciting challenges can quickly become your greatest risk. Or even your downfall!

Learn more about contractor insurance as well as how to get free contractor insurance quotes below.

What Is Contractor Insurance?

A day in the life of a contractor is never the same as the last. There’s always something new to learn. And their “office” is typically on the go. And while it’s exciting, we also mentioned how risky it can be. 

Construction and maintenance work is actually considered one of the most dangerous professions. That includes homebuilders, ironworkers, roofers etc. 

These jobs involve more physical labour, heavy-duty machinery/equipment and dangerous working conditions. 

Common Contractor Professions:

• General Contractors 
• Handyman Services
• Excavating Companies 
• Electricians 
• Plumbers
• Roofing Contractors 
• Masonry Contractors 
• Painting Contractors
• Drywall & Siding Contractors 
• HVAC Companies

All these professions involve at least one element of risk. Most involve more than one.

For example, electricians face several dangers at a job site. This includes electrical shock, burns, falls, toxic substance exposure or personal injury. 

And that’s just while they’re on the job site! 

Other risks associated with contract work include: 

• Damage to third-party property,
• Completed work liability and
• Reputation harm.

That’s where contractor insurance comes in! 

Contractor insurance protects contractors, subcontractors and contracting companies against, 

1. Liabilities and 
2. Damages.

Contractor insurance includes the four areas mentioned above. That is bodily injury, completed work, reputation harm and third-party property damage. 

On top of these coverages are optional add-ons, including: 

• Installation Floaters 
• Builder’s Risk Coverage
• Tool Floaters 
• Pollution Insurance 
• Performance Bonds 
• Contractor’s Surety Bonds 
• Cyber Security 
• Fleet Coverage

Your Mackay Insurance broker can help ensure you have the best coverage for your needs. Ask about our contractor insurance quotes to get started! 

Why Should You Invest in Contractor Insurance?

There are many reasons to invest in a contractor insurance policy. Some air on the side of caution, while others are legally required. 

In Ontario, it’s mandatory for contractors to, 

a) Have commercial general liability insurance and to

b) Show a valid insurance certificate. 

This insurance protects your business and yourself from property damage or injury claims. 

A contractor’s job involves many moving parts. Ranging from people to equipment, machinery, vehicles, tools etc. 

It’s no wonder a contractor’s job site is so chaotic! 

And when there’s that much chaos happening, accidents are bound to happen. 

When those accidents do happen, ensuring you have the right coverage can save your livelihood. 

Ask your Mackay Insurance broker about our free contractor insurance quotes today! We ensure you have all the mandatory coverages in place. We can also discuss further recommendations to help protect your business. 

What Does Your Contractor Insurance Policy Cover?

Your contractor insurance policy covers four specific areas. That includes injuries, damaged property, completed work and reputation harm. 

These coverages protect you, the contractor, and the client. 

Let’s discover what each of these coverages entails below!

Damage to Third-Party Property 

Your contractor liability insurance covers accidental damages to third-party property. This could be to the property, a nearby property or something within the property. 

Your insurance covers the legal fees associated with this damage. That includes repair and replacement costs.

For example...

An HVAC contractor accidentally damaged your walls while carrying equipment into your home. Their liability insurance covers the damages caused by this mishap.

Body Injury 

We’ve already mentioned how dangerous contract work can be. Whether it be the tools used, the machinery or the work environment, a day in the life of a contractor is full of risk. 

What happens if your work causes bodily injury to a third-party individual? That could be the mailman, the homeowner or even the neighbour.

It’s up to you to have the right insurance coverage to protect yourself, the business and them.

For example...

What if a renovator dropped a tool from the roof and it ends up injuring a third-party individual? Their liability insurance covers the legal or medical fees associated with this accident. 

Completed Work 

The neat thing about contractor insurance is that it doesn’t end when the contractor leaves the job site. Their insurance continues protecting them even after they’ve finished!

For example...

An electrician improperly installed new electrical wiring. That wire then leads to a house fire. In this situation, their insurance covers the legal, medical and repair/replacement costs of this house fire..

Reputation Harm

This is one of the most valuable coverages. 

Reputation harm coverage protects against slander, libel, copyright infringement, privacy violations etc. 

An example of this would be if a contractor got sued for copyright infringement. Their liability insurance would cover the legal costs associated with this scenario. 

Add-On Coverages

There are many other coverages not included in basic contractor liability insurance. We’ve listed a more comprehensive list of extra coverages above. 

These extra coverages provide specific protection for specific businesses but are not required. 

One example of added coverage is worker’s compensation insurance. This covers medical costs, lost wages, disability and death benefits etc.

Get Free Contractor Insurance Quotes With Your Mackay Broker!

Start protecting your livelihood today with your local Mackay Insurance broker! Contact our Belleville office at 613-966-5740 or our Napanee office at 613-354-2555.

We also offer FREE contractor insurance quotes online!