Why do you need Contractor Insurance Canada?

What happens if your tools were stolen? Get sued by an unhappy client? Have an employee injured on a job. These can be catastrophic to your business and livelihood. Claims can be in the low thousands up to millions of dollars. Can you cover those costs? To protect yourself against these types of events you need to have contractors insurance canada. Another reason for insurance is that a lot of new work insists that the contractor has this type of insurance. Without this insurance you may not win the contract.

What is contractor insurance canada?Are you a general contractor? A sub-contractor? A construction tradesman? A lot of jobs now require that you have contractor insurance. Contractor insurance Canada is also known as contractors’ insurance coverage, liability insurance or general business insurance. There’s rarely just a single policy to cover your needs. But you can pick-and-mix the policies you need. You should speak to an insurance agent to get the type of policies for your business.

Types of Policies

*Property Insurance: Covers any losses or damages to your business buildings, personal property and accidental loss of tools and equipment. For example theft or fire.* General Liability: this policy covers any costs associated with lawsuits and claims including an employee being hurt on the job.* Completed Operations: covers you against any loses and claims when you finish the project.* Equipment Breakdown: if your equipment breaks it can have significant costs fixing the machine and the loss of work whilst it’s busted. It can also cover any fines for delayed delivery of your services.* Environment Protection: this covers any costs associated with disasters that have an impact on the environment include ammonia contamination, water escape, and oil spillage.* Privacy Breaches: if you’re hacked and data is leaked you will face a lot of time restoring the situation and rebuild your reputation.


Many new jobs require the contractor to have insurance against any mistakes. If you are faced with a legal claim or have your tools stolen or an employee is injured you will have to cover legal costs, fines and restitution and loss of reputation. These can mount up to the millions of dollars. Contact your commercial insurance agent to find out what you need for your business.

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