Small Contractors Insurance – Ontario

Small contractors bring projects to life, whether they’re involved throughout the entire project or for electrical work to bring light into a space and roofing contractors who literally put a roof over people’s heads. From the initial planning process to the coordination and execution of work, a lot goes on in between to get to a finished project. Of course, the unexpected can happen at any point of a project and to any type of contractor. We understand that contractors are exposed to many unique risks depending on the type of work they do. Through a comprehensive review of your business operations, our team can help define what coverages best protect you and your small contractor business.

As your local insurance experts, we know that each business in Ontario is unique in its own way. From renovation contractors bringing modern elements into older homes throughout Thunder Bay to framing contractors putting together the bones of a home that will be well lived in throughout Barrie, we’ve got you covered. With all it has to offer, it’s not hard to understand why so many people decide to set up shop in Ontario.

We understand it’s vital to protect what’s most important to you and your business. Our expert insurance advisors are here to ensure you’re protected and provide peace of mind so you can focus on nurturing your business for the future.

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Why Choose Westland?

We know that your business insurance needs to match your goals, your business and your budget. Our expert business insurance advisors get to know you and your business, so that they can tailor a policy to your exact needs. We’ll work with you to build a risk management solution, ensuring coverages line up with your business needs.

Insurance can be complex sometimes. Let our expert insurance advisors do the heavy lifting! We’ll help you find a policy that you feel is the best fit and provides peace of mind. To learn more about the benefits of being a Westland client, Click here.

Small Contractors Insurance

Whether your business looks after all the elements of a small-scale project or specializes in areas of the build, each contractor has responsibilities. Throughout any project, the unexpected can happen, which can affect your business directly. There are coverages specific to contractors to ensure that your business can focus on the work at hand, knowing you’re covered. Small contractors’ insurance isn’t just for the finished project; it’s for all aspects, from the first nail to the last painted wall.

No matter the industry, our business insurance advisors can help you find the right coverage to ensure your business is covered if there’s a loss during the many phases of the small contractor’s process.

Business liability provides coverage for liability claims alleging from bodily injury and property damage to others arising out of your operations. Such third party losses and subsequent legal liability claims can be triggered by operations performed by employees or subtrades, product failure, or from completed work hazards. To learn more about commercial liability, click here.

Contractors Equipment Floaters (CEF) insure equipment at a contractor’s place of business as well as construction projects and job sites. This coverage is called a “floater” because the coverage follows the equipment from one job site to the next and while in transit. Examples of equipment covered include mobile equipment, bulldozers, road-graders, forklifts, loaders, backhoes, and skid steers.

Tools insurance covers your hand tools and portable tools when at a jobsite, in transit or while locked in a vehicle or storage. Examples of tools covered include:

  • Saws
  • Screw Drivers
  • Socket Sets
  • Drills
  • Nail Guns
  • Belt Sanders
  • Hammers
  • Compressors

Property Insurance ensures the hub of your business, the home base for your crews, is well protected.  Property Insurance provides coverage for your Building and Contents such as furnishings, fixtures, equipment and stock at your shop and office premises. This includes items used to run your business. Examples of contents covered include:

  • Computers
  • Office Furnishings
  • Printers
  • Merchandise/Stock

Your Commercial General Liability insurance policy covers you for third party legal liability bodily injury and property damage claims that result from your operations. This doesn’t provide coverage for errors made and the associated costs of making things right for your customer. Two important endorsements can be added to your insurance policy to provide a complete package of protection specifically for contractors:

  1. Contractors Errors and Omissions Liability Extension
    Contractors Errors and Omissions liability insurance protects against allegations of errors, omissions or negligent acts in the performance of professional services for commercial construction projects, including design-build projects.Example:
    “An HVAC contractor makes an error interpreting plans and installs equipment not to specifications, creating a problem in being able to complete finishing of ceiling components. The HVAC work needs to be redone to comply with plans.”
  2. Rip and Tear Insurance Coverage extension
    Another endorsement that can be added to a Contractors Commercial General Liability policy is Rip and Tear Endorsement (also known as Removal and Replacement).This Rip & Tear extension covers the expenses to remove a defective product and the cost to return the project to its required state. An example of this would be:“An error is made in the composition of materials for a poured concrete floor. Within six months, the flooring cracks and crumbles and needs to be replaced.”You can see how these important coverages work together to ensure no gaps or exposures cause financial disruption to your business.
  3. Contractors Pollution Liability Insurance
    Contractors Pollution Liability (CPL) Insurance can provide liability protection for contractors against the environmental liability claims not covered by standard commercial general liability insurance policy due the industry-standard pollution liability exclusions and clauses.Limits of liability, coverage type and policy format vary depending one’s specific operations, risk exposures and requirements. Our business insurance advisors can help you find the right coverage for your business.

As a contractor or subcontractor, you need to be protected if your work is damaged on your job site or project. Installation Floater Insurance is protection for materials and work in progress. Installation Floaters are designed to protect the value of labour and materials of a contractor’s work in progress.

If your work causes damage after you walk away from a project, you need an active policy including Products & Completed Operations coverage to defend you. Examples include a beam that falls and hits someone, or a fixture that springs a leak and causes water damage.

  • General
  • Renovation
  • Electrical
  • Landscaping & Excavation
  • Framing
  • Mechanical/Plumbing
  • Concrete
  • Finishing
  • Insulation
  • Roofing
  • Painting
  • Drywall

We can help with your auto insurance needs too! Connect with us today to ensure you’re covered out on the road.

How Much Does Small Contractors Insurance Cost in Ontario?

Just as businesses differ across Ontario, so do the risks and exposures which impact the cost. The following factors will impact the cost of your construction and development insurance coverage:

  • Experience
  • Location
  • Equipment
  • Scale of Project(s)

Review Your Insurance and Get a Quote with Westland

Ready to discuss your insurance needs? Our expert advisors are here to review your current insurance policies, discuss your unique risks and operations, and find the perfect insurance policy for your business. Whether it’s over email, the phone or in person we are ready to help! To get started on a quote now and see price estimates for your business coverage, click the button below. Our advisors will contact you right away and help navigate your risk management needs. Of course, we are always available to talk over the phone or in person. Check out our locations page to connect with an office closest to you!

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Claims Example

Theft is one of the most common claims we see when it comes to small contractors. For example, tools are the most vulnerable for theft as they can be stolen from job sites, leaving small contractors without what they need to get the job done. The right small contractors’ insurance policy will help mitigate these risks and get you back to your normal as quickly as possible.

Our goal is to find the best coverage for your business so you can focus on what’s important. To learn more about being a Westland client, click here.

10 Ontario Business Facts

  1. Niagara Falls is one of the largest draws to Ontario. In fact, it welcomed 12.9 million visitors in 2017 and tourism expenditures reached a whopping $2.4 billion!
  2. It comes as no surprise that Toronto is a big player in the film and television production sector. Often being called the Hollywood of Canada, over 25% of Hollywood movies are filmed in Toronto.
  3. Fishing is a beloved past time in Ontario, but it’s also an economic driver. With over 1.12 million anglers on Ontario water a year, they spend $1.6 billion a year in the province, whether at remote fishing lodges or supporting small angling businesses.
  4. Ontario is one of the most multicultural places in the world. It’s home to many festivals including Caribbean Carnival, Jazz Festival and Oktoberfest. In fact, there are over three thousand festivals each year.
  5. Ontario has a thriving agricultural sector. The province contributes to almost a quarter of all farm revenue in Canada. The top crop productions are soybeans, corn and winter wheat.
  6. Forestry is another large industry in Ontario, supporting over 53,000 jobs. In fact, the forests of Ontario cover a land area close to the size of Italy, Germany and the Netherlands…combined.
  7. Ontario is the national leader when it comes to manufacturing. Automotive, textiles, electrical goods and farm implements contribute to an industry that employs about half of Canada’s manufacturing jobs.
  8. The Royal Ontario Museum is the largest in Canada, and the fifth largest in all of North America. It sees a total of one million visitors a year who stop by to see many collections in over 40 galleries.
  9. Another driving force for the province is the food processing industry. Ontario has over 3,000 companies that make both food and beverage products. Companies include Kraft, Nestle, Kellogg’s, Coca Cola and PepsiCo.
  10. With over 25,000 restaurants in Ontario, it’s not surprising that some famous dishes have originated in Ontario. The Hawaiian pizza didn’t originate from the islands of Hawaii, rather at the Satellite Restaurant in Chatham!
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