Contractors and General Contractors
We are making purchasing contractors insurance easy with our key benefits:
- Access to Specialty Contractor experts who can do a risk assessment and find the best coverage to meet your needs.
- Monthly payments are available, either from a bank account or using a credit card
- We offer CCDC Compliant Insurance Packages
- Optional Heavy Equipment Insurance
Types of Contractors:
We insure a wide span of different Specialty Contractors including, but not limited to the following:
- Marine Contractors
- Aerospace Contractors
- Industrial Contractors
- Mining and Oil & Gas Industry Contractors (including Wellhead Contractors)
What additional insurance do specialty contractors require?
You may not think of your work as ‘specialty’, but your insurance company might disagree. If you do marine work, aerospace work, industrial or mining work, high-rise work, municipal or provincial infrastructure, or anything else besides standard commercial and residential buildings, you should ask your broker if your policy covers you.
What is CCDC Compliant?
CCDC (Canadian Construction Documents Committee) is a standardized set of contract documents which are meant to give certainty to owners and contractors. They include specific insurance requirements, and it’s important that every sub-trade carries the right types and amounts of coverage if they are working under CCDC.
Why should some contractors purchase Professional Liability (Errors and Omission Insurance)?
Your Commercial General Liability policy covers property damage or bodily injury resulting from the physical work you do. However, if someone claims they suffered a financial loss because of an error you made in design, material choice, etc., you need Professional Liability coverage to defend you.
Is pollution insurance relevant to contractors?
Pollution insurance is definitely important for many contractors. Standard insurance policies exclude loss or damage caused by “pollution” – but the definition of a pollutant is broader than you think. Everything from coolant to diesel can be considered a pollutant, and you need specialized coverage to pay to clean it up.
Does my commercial general liability policy cover me for expenses from contract or tax disputes?
Your commercial liability policy is not designed to cover you if you get sued for breach of contract, never mind if you need to pursue a client who is withholding payment. It also isn’t meant to pay for regulatory or tax disputes. There is separate Legal Expense Insurance which can offer coverage for these situations and more – ask us about it!
We have a dedicated bonding team to assist our Contractors with Contract Surety Bonds. Visit Contract Surety to learn more.