Welders Insurance Ontario
What You Need to Know About Welders Insurance
No matter how careful and precise your work as a welder might be, there are still risks and hazards that come with the job. Whether you are a construction welder, manufacturing welder, mobile welder or shipyard welder, you need an insurance solution that makes sense for your needs.
As with any business that offers a paid service, your insurance policy needs to protect you both at the office and on the job. And with a business as dangerous and demanding as welding, you need a high-quality welders insurance policy that mirrors just that. That’s why Insurance Hero partners with some of Canada’s leading insurance companies to find the best business coverage that protects you while also saving you money.
Insurance Coverage Options
Each welding job you take on will come with its own new set of risks. While standard commercial business insurance policies are designed to cover the majority of business risks, customized welders insurance is built to tackle the unique risks and liabilities facing a welding contractor’s business specifically. So whether you are a welding contractor, subcontractor or the owner of a large welding company, having welder’s insurance just makes sense.
At Insurance Hero, our insurance experts know how to ask the right questions to ensure you get the exact coverage your business needs. By partnering with us, we guarantee we will find you high-quality, comprehensive insurance coverage at the best price.
What type of insurance do welders need?
Commercial General Liability Insurance
All construction contractors are required in Ontario to have commercial general liability insurance, including welders. This insurance policy protects you, your business and your employees from legal liability against third-party bodily injury or property damage claims that occurred at the job site. It covers the costs of medical bills, legal fees, and repairs or replacements. This insurance policy also protects you should the above occur on your company’s premises or any advertising and reputational injuries (e.g., slander, libel, copyright infringement).
Commercial Auto Insurance
Should you or your employees use any vehicles for work-related purposes, such as transportation of tools and materials or getting to and from job sites, you must have commercial auto insurance, as personal auto insurance will not cover vehicles used for work. This includes the following:
- Third-party liability: covers legal fees, repairs and medical expenses if found to be at fault in an accident that leads to a third party’s property damage or injury/death.
- Accident benefits: covers the driver, passengers, or pedestrians if injured in a vehicle accident, regardless of who’s at fault.
- Uninsured automobile coverage: covers medical expenses, lost wages and more in the event of an accident with an underinsured at-fault motorist or a hit-and-run driver
- Direct compensation-property damage: covers the cost of repairs or replacement of your vehicle, its contents and a rental if not at fault.
What does welding insurance cover?
Welder’s insurance begins with mandatory commercial general liability. It also includes commercial auto insurance should you have any commercial vehicles. While these cover quite a bit, you may still wish to add additional policies as needed to ensure full protection from whatever the job may through your way. We strongly recommend the following types of coverage for your comprehensive welding insurance policy:
Equipment and Tools Insurance
There’s nothing more essential to a welder than their tools and equipment. Without them, you cannot complete your job. Equipment and tools insurance covers reimbursement costs for tools and equipment that need repairs or to be replaced if lost, stolen or damaged due to theft, vandalism, fire or flood. This policy includes tools and equipment owned, leased or rented and provides coverage whether in storage, in transit, or left at a job site.
Equipment Breakdown Insurance
Equipment breakdown insurance covers financial costs for equipment that need repairs or to be replaced due to internal damage, such as power surges, motor burnout, electrical shorts, operator errors and mechanical breakdowns. It also covers rental fees so you can continue working while your equipment is repaired or replaced.
Commercial Property Insurance
If you have a brick-and-mortar office for your business, this policy protects it and the contents inside by covering financial loss from such perils 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.
Commercial property insurance can also include business interruption, which protects your business should you be unable to work due to an illness or injury and have to shut it down temporarily. This helps offset ongoing costs from income losses, such as bills, employee wages, etc.
Professional Liability Insurance
Professional liability insurance, also known as errors and omissions insurance, protects your business and employees against the cost of customer claims of negligence or inadequate work. Any company that provides a service should strongly consider having a professional liability insurance policy. It covers:
- 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
Pollution Liability Insurance
With today’s environmental regulations, welders need coverage to protect them against claims of pollution caused by their operations (e.g., metal active gas welding). But even if the pollution risk is low, this insurance is required for welders for many jobs.
Pollution liability protects you in the event of sudden and gradual environmental damage occurring at the job site that results in third-party bodily injury or property damage. It includes:
- Transportation exposures during loading and unloading
- Environmental damage and clean-up costs
- Emergency response costs
- Civil fines, penalties and assessments