Ontario Contractors Insurance

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 contractor liability insurance package for protection from third-party bodily injury or property damage claims.

With Zensurance, you get more than just a policy – you get peace of mind and world-class customer service.

We specialize in insurance tailored for contractors in Ontario, offering customizable coverage that fits your unique needs and budget. Plus, our quick, no-hassle online quotes mean you can get covered and a certificate of insurance in minutes!

Don’t leave your contractor or construction business unprotected – trust the experts who understand your industry. Get your free contractor insurance quote today and stay protected!

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, including:

• Third-party lawsuits arising from disagreements and misunderstandings
• Unexpected damages to projects and properties due fire, water, or severe weather
• Third-party bodily injury claims
• Third-party property damage claims
• Stolen or vandalized tools and equipment
• Collisions involving business vehicles

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.

Running a business can be 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.

 Contractor insurance in Ontario is also necessary for:

• Successfully bidding on projects
• Complying with municipal and provincial laws and industry regulations
• Demonstrating professionalism to your clients
• Shielding your finances from the financial strain of unexpected claims or accidents
• Giving you peace of mind knowing your protected from potential risks

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:

A comprehensive insurance policy for all kinds of contractors may include the following types of coverages: 

• Commercial General Liability (CGL) Insurance: A commercial general liability (CGL) policy protects contractors from common risks like third-party property damage or bodily injury. For example, if a customer slips and falls at your office, CGL can cover their medical expenses. If you’re sued, it may also handle your legal fees, regardless of the case’s outcome.

• Commercial Property Insurance: Commercial property insurance protects your business premises and contents, including inventory, from risks like fire, theft, or flood. It can include business interruption coverage, reimbursing lost income and covering costs like overhead and employee wages during temporary closures due to insurable losses.

• Tools and Equipment Insurance: Your tools and equipment are vital assets, making insurance essential. This coverage helps repair or replace lost or damaged tools, equipment, accessories, or property in your care. Tools valued under $1,500 are covered as tools, while items over $1,500 are considered equipment.

• Builder’s Risk Insurance: Builder’s risk insurance, also known as construction liability insurance, protects a building from costly property claims during a project. While clients often carry this coverage, contractors may sometimes be responsible. Before starting a project, confirm with your client who will purchase the policy and ensure all parties are properly covered.

• Cyber Liability Insurance: Cyber liability insurance is essential for businesses and contractors that store customer data. If you handle personal or financial information, you’re responsible for its protection. This coverage helps cover costs from cyber-attacks, data breaches, and other electronic incidents.

• Pollution Liability Insurance: Some contractors’ work does have an impact on the environment, and environmental liability is becoming more important for contractors whose work may impact the environment. Pollution liability insurance covers cleanup costs, third-party injuries (like respiratory issues), and damage to property caused by pollution or toxic substances from your work.

• Professional Liability Insurance: Professional liability insurance, or errors and omissions (E&O) coverage, is crucial for businesses offering advice or consulting. It protects against claims that you provided incorrect guidance or failed to deliver as promised.

• Commercial Auto Insurance: Commercial auto insurance covers vehicles like cars, trucks, vans, and trailers used for business activities. In Ontario, any vehicle transporting materials, tools, equipment, goods, or people for business needs this policy.

• Tenant Legal Liability Insurance: Tenant legal liability insurance covers a tenant’s responsibility for damage to the rental property caused by their actions. It helps protect against costs associated with repairs or loss to the property, such as fire or water damage, that may be attributed to the tenant’s negligence.

• Leased, Rented, Borrowed Equipment Insurance: Leased, rented, or borrowed equipment insurance covers the cost of repairing or replacing equipment you’ve leased, rented, or borrowed in case of damage, theft, or loss. This coverage ensures you’re protected for equipment not owned by your business but still essential to your operations.

The cost of a basic or standard contractor insurance policy in Ontario is determined by insurance companies, and is 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

There may be other factors related to your type of work or business that apply to the cost of an annual premium, as different insurers offer different prices. Most Ontario contractors buy a policy with up to $2 million of general liability coverage at a starting annual premium of $550. Speak to one of our licensed insurance brokers to get a better understanding of what those elements are, what options you have, and ensure all possible risks you face are accounted for in your policy.