Drywallers Insurance

Drywallers Insurance Ontario

What You Need to Know About Drywallers Insurance

Canada offers many profitable opportunities to drywall contractors all across the country. As such, it’s no wonder you are ready to start your own drywalling business.  But first, you need to be aware of the many hazards that you and your workers will be exposed to on a regular basis before you start your company. After all, contractors run the risk of not only damaging a client’s property but also causing harm to them physically.

Insurance Coverage Options

Building a drywall contractor insurance policy specifically to meet the demands of your company is the key to success. And whether you’re a self-employed contractor or the CEO of a huge drywalling business, you need commercial insurance to protect your drywall business from unanticipated events and liabilities since every new contract job comes with a new set of risks.

Fortunately, finding top-quality contractor insurance in Ontario is easy with the help of Insurance Hero. We will make every effort to obtain the insurance you require at the most competitive prices available using our in-depth knowledge and experience of the insurance market.


What is covered by drywall contractor insurance?

Commercial general liability insurance is mandatory for all drywallers. It safeguards you, your company, and any staff from being held accountable for third-party claims of physical harm or property damage sustained on your commercial property or at the job site (even after the work has been completed). It pays for medical expenses, legal expenses, and replacements or repairs. This insurance policy also covers reputation and advertising damages (e.g., slander, libel, copyright infringement).

But just that alone isn’t enough. For a comprehensive insurance policy, drywall contractors should strongly consider including several of the following coverages:

Commercial Auto Insurance

You need commercial auto insurance if you or your staff use any vehicles for work-related activities like transporting materials or travelling to and from job sites, as personal auto insurance does not insure personal vehicles used for employment-related activities. The following coverages are included:

  • Third-party liability
  • Accident benefits
  • Uninsured automobile coverage
  • Direct compensation-property damage

Commercial Property Insurance

Your physical office and its contents are safeguarded by commercial property insurance, which pays for any financial damage resulting from such risks as:

  • Property damage due to natural disasters, flood, fire, vandalism or theft.
  • Property damage or theft of electronics, equipment, company documents or employees’ personal belongings.
  • Inventory theft by employees.

Business interruption is an additional feature of commercial property insurance that you can include in your coverage. It safeguards your company in the event that you are temporarily forced to close it down due to an illness or injury and are unable to work. This assists in reducing recurring expenses due to income losses, such as bills, employee salaries, etc.

Builder’s Risk Insurance

While working the job, the building, on-site materials, and liability claims are covered by the builder’s risk insurance. Contractors frequently require their clients to obtain this coverage as they are the property’s owners. This insurance policy is also known as construction liability insurance or course of construction insurance. Nevertheless, occasionally the contractor will be in charge of getting this insurance. Make sure you confirm who’s purchasing the policy.

Professional Liability Insurance

Professional liability insurance, commonly referred to as errors and omissions insurance, guards your company and staff against the financial expense of client accusations of negligence or poor work. Any business that offers services ought to seriously consider getting professional liability insurance. It includes:

  • Errors, mistakes and oversights
  • Failure to meet deadlines
  • Failure to deliver your product to a customer
  • Professional negligence
  • Failure to meet a standard of care
  • Breach of contract

Equipment and Tools Insurance

The expense of replacing or repairing tools and equipment that need to be replaced due to theft, vandalism, fire, or flood is covered by equipment and tools insurance. Whether in storage, transit, or left at a job site, this policy covers all tools and equipment, regardless of whether they are owned, leased, or rented.

Installation Floater Insurance

This insurance coverage protects the personal property that has been installed, made, or built by a contractor. Basically, this coverage protects only the materials and tools needed for the drywalling job. It protects property that’s stored in a temporary location, in transit, or installed until the buyer accepts the completed work.

Why do drywall contractors need insurance?

Contractor insurance is a necessity for all drywall contractors in Ontario. General liability insurance is required at the very least, but it won’t be sufficient to safeguard your company against unforeseen risks on its own. Plus, contractor’s insurance is necessary for more than simply drywallers. Contractor insurance is also necessary for general contractors, subcontractors, landscapers, painters, roofers, HVAC technicians, and other tradespeople—even homeowners working on their own renovation projects.

Many drywall contractors are aware that some clients can be difficult to please. Also, an employee can get hurt at any time on a job site, and an unexpected storm could hit and damage your construction site or equipment. Contractor equipment is costly to replace, and settlement and legal costs can quickly bankrupt your company. 

Furthermore, customers want to know that they have sufficient insurance. Contractor insurance will assist in securing work by proving credibility and the necessary coverage for your company. These are just a few reasons you need a solid insurance policy to safeguard you and your company.

What impacts drywall business insurance rates?

Rates are generally determined by a few key elements, including the following:

  • The location and size of your drywall business
  • Any prior insurance claims
  • Your annual and projected revenue
  • The amount of experience you have
  • The coverage you choose and your deductible amount

How are drywalling tools covered?

Nothing is more necessary for a drywall contractor than their tools and equipment. After all, you cannot complete your work without them. That’s why it’s essential for drywallers to protect their tools and equipment with equipment and tools Insurance. Whether in storage, transit, or left at a job site, this insurance policy covers all tools and equipment, regardless of whether they are owned, leased, or rented.

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It will depend on a number of factors, such as the size of your company and the amount of experience you have, to determine what kind of drywallers insurance you will require. Let Insurance Hero help manage your risk and insurance costs by conducting a full commercial insurance policy review to determine what kind of coverage is best for you and your business!

For reliable, affordable Ontario drywallers insurance, please request a quote online or give us a call at 1-855-777-4376. Our team of Insurance Heroes is happy to answer any questions you have!