Liability Insurance for Contractors 

If you’re a construction or renovation professional who considers Ajax a part of your service area, liability insurance is an absolute must. Not just because it’s legally required – but because it’s an insurance policy that makes it easier for you to protect your business. 

Whether you’ve been a construction tradesperson for the last few years or you just got into the industry last week, there’s one thing that everyone learns pretty quickly:

Anything can happen in the middle of a construction project. 

If a child or a random passerby suffers a serious injury while on your worksite or if a fire starts on your side of the fence and spreads to a neighbour’s property, you and your business could be held legally and financially responsible for damages.

Here at Insurance Hero, we pride ourselves on offering comprehensive liability insurance solutions to Ajax-based contractors. From legal fees to the cost of settlements, our policies can step in and do the heavy lifting if you ever have to defend yourself against a liability claim.

Insurance Considerations for Independent Contractors

When you’re an independent contractor, your insurance policy can make or break your business in a worst-case scenario. If anything happens while you’re working a job, being self-employed won’t prevent an injured party from naming you in the lawsuit. As you consider your insurance options, however, there are a few factors that you’ll need to pay special attention to:

1. Your Risk Profile

Even though we can agree that all renovation and construction projects involve a certain element of risk, some jobs and specialties are naturally riskier than others. Do you spend a lot of time dealing with heavy machinery? Are you responsible for the building foundation or the roofing? If something goes wrong while you’re doing your job, does the whole project go down in the process?

Different types of service providers will have different liability exposures. As a result, the services you offer can have a direct effect on your insurance needs.

2. The General Contractor’s Policy

This one will depend on the details of the projects you’re working on. However, because general contractors are often the ones taking responsibility for the project overall, it’s not unusual for them to insure everyone and everything involved with the new build or the renovations. If this is you, then your insurance may be covered by your general contractor. But unless you work exclusively as a subcontractor, it’s still a good idea to have your own insurance.

3. The Price

Like most business owners, independent contractors have to keep an eye on their expenses. As such, you don’t want to be overpaying for insurance that you could be getting cheaper elsewhere. And you definitely don’t want to be paying for more insurance than you actually need. 

Here at Insurance Hero, we offer robust insurance solutions to Ajax-based independent contractors. Contact us to get started today.

What is Contractor Insurance?

The easiest way to explain contractor insurance is to describe it as insurance that’s been designed with the needs of renovation and construction professionals in mind. 

Typically, contractor insurance will include commercial general liability and property insurance coverage. But for perspective, some of the custom features we offer in our contractor insurance packages include:

• Debris removal
• Equipment
• Pollution liability insurance 

Is Contractor Insurance Mandatory for Contractors and Subcontractors Before Signing Project Contracts?

If you’re a contractor and you’re taking jobs in and around Ajax, the short answer to this question is “Yes.”. Government contracts and property owners will often require you to prove that you’re insured.

For subcontractors, however, the answer is a bit less straightforward. Why? Because if you’re being brought in under a general contractor, you might be covered under their policy. But if your work calendar involves doing some subcontracting work alongside the contracts you’ve been awarded as an independent contractor, you might need to take out your own insurance policy.

How much does it cost?

Your insurance rate may be impacted by how you’re able to answer questions like:

• How big is your company?
• What kind of services do you offer?
• What’s the replacement value of your equipment?
• Do you have a commercial vehicle?

However, even though exact rates might vary, there’s one thing that we can 100 percent guarantee — we’ll always offer you the best prices for contractors insurance that we can. 

As working professionals ourselves, we understand how important it is for businesses to keep their expenses down. That’s why we’re committed to making sure that our contractors insurance policies are accessible and affordable.

Who needs it?

Anyone who’s working on a construction site or major renovation project needs to have contractors insurance. Whether you’re an independent contractor, a cabinet installation expert, or a plumber, the right insurance policy can help you protect your livelihood and your business. 

We Make The Road to Insurance Solutions Simpler

When you’re working on a construction project or a major renovation, there are a lot of moving parts to keep track of. First, you have to keep up with your suppliers. Then, there are subcontractors and independent contractors you need to get in touch with. And between zoning permits and bylaw requirements, there’s a ton of paperwork that you have to manage as well.

The right insurance policies can make it possible for you to protect yourself and your business while reassuring future employers that they can count on you to get the job done. 

Are you ready to get contractors insurance for your business? We can come to your rescue! Here at Insurance Hero, we believe that securing top-notch insurance doesn’t have to be complicated. Our brokers will stop at nothing to make sure you get the coverage you need and deserve. 

Request your free quote today!