Working as a contractor of any kind means that you are constantly managing and navigating risks. As a business owner, you know that the last thing you want is to experience financially devastating damages arising from losses, including injuries, theft, and liability claims.

It may seem obvious right now or in hindsight that you should obtain a suitable Contractors Insurance policy, primarily when you are held liable for bodily injury or third-party loss. However, not everyone considers the possibility of a loss seriously. Many contractors may wonder why they have to needlessly spend each month on a policy that may never benefit them. If you’re thinking this too, you aren’t alone.

Think of insurance as a long-term investment that pays off during an emergency. The insurance company will cover the loss on your behalf when you encounter a loss and even handle legal procedures if you have the right coverage. With all the support you receive from paying a monthly premium, this trade-off is worth it.

You may not experience a loss right now, but the policy itself helps act as a cushion so you don’t have to absorb the financial and even legal implications of a loss. Save yourself the hassle of dealing with lawsuits and wasting time and money with a Contractors Insurance.

Plus, if you want to take on larger projects, you’ll need insurance to win the contract anyways.

Regardless of your sector or whether you are a large or a small operator, every contractor needs business protection with the help of contractor’s insurance.

Any independent contractor or business that offers contracting services needs a contractor insurance policy.

• Roofing
• Carpenter
• Plumbers
• Restoration
• Window Cleaning
• Landscaping
• Flooring
• Demolition
• Cleaners
• Construction contractors
• Appliance repair
• HVAC
• Handyman
• independent or self-employed contractors
• Interior designer
• and more

Remember, every business has exposure to some level of risk regardless of sector and size. It is in your best interest to have a safety net for unexpected accidents and worst-case scenarios. Even if you have no history of accidents, you do not want to be that person without protection when the worst comes to pass.

Contractors Insurance policies provide a range of coverages that can be customized based on exposures and risks.

Here are some common coverages that can be found in a Contractors Insurance policy:

• Commercial general liability (CGL) insurance
• Tools and contractor equipment>
• Office contents
• Business property
• risk (broad form property insurance or course of construction policy)
• Pollution liability insurance
• Professional liability insurance (if you provide consultation or advice)
• Installation floaters
• Contractors equipment floater
• Wrap up liability

Additional coverages (endorsements) are available as the Contractor policy may not provide enough coverage across industries and trades. Speak to one of our specialists to see if you need these:

• Tenants legal liability
• Installation floater
• Leased, rented, borrowed equipment
• Non-owned auto insurance
• Products-completed operations liability

If you are unsure which coverages you need for your business, simply get in touch with our Wholesale insurance experts at Novinger Insurance. Learn which coverages you need and how to mitigate risk at 416.528.8305 or fill out the contact form below.

As a contractor, you are responsible for protecting your business and employees and delivering a service that lives up to your clients’ expectations. Contractor insurance costs will vary for every business, as it depends on many variables that are unique to your business.

Many factors are taken into consideration when determining your best policy options, including the following:

• Past insurance claims/loss history
• Annual and projected gross revenue
• Geographical location
• Specific coverages
• Industry or sector
• Deductibles
• Policy limits
• Policy terms
• Number of employees
• Type of work performed
• and more

Novinger Insurance can craft a contractor insurance policy exclusively for you with baseline information about your business using the factors listed above. Contact us at  416.528.8305 or fill out the contact form below to learn about your business solution.

Like any other profession, mistakes and accidents can have consequences ranging from injuries to financial loss. As a contractor business owner or an independent contractor, here are some risks that you face every day on your job:

• Contractor fleet
• Automobile liability<
• Contractor’s equipment liability
• Potential pollution
• Slips, trips, and falls
• Confined spaces
• Asbestos
• Theft of tools, equipment, materials
• Quality assurance
• General liability
• Third-party injury
• Infection control
• Cyber risks
• Property risks (including flammable materials and substances, lighting, wiring, heating)
• Employee injury
• and more

Each contractor will experience different risk exposure based on their industry and business. To find out how you can safeguard your business, contact us at Novinger Insurance!