Contractor Insurance

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Ontario Contractor Insurance

Being a contractor is no small feat – it requires skill, dedication, and a strong foundation of experience. That's where Humberview Insurance comes in. Think of us as more than just an insurance provider; we're your partner, dedicated to helping your business thrive and grow. We understand the intricacies of contractor insurance and offer tailored solutions to protect your business. With Humberview Insurance by your side, you can focus on what you do best, knowing that we're here to support every step of your journey. Get in touch with us today – let's discuss how we can contribute to your success and keep your business secure. Simple, straightforward, and always there for you – that's our promise at Humberview Insurance.

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This content is for general informational purposes regarding Ontario contractor insurance and should not be considered professional advice. Always consult with an insurance advisor for specific guidance.

Standard Insurance Coverage for a Contractor

Contractor Liability Insurance

Contractor Liability insurance in Ontario, is essential for contractors, safeguarding against legal claims if someone gets hurt or property is damaged because of your work. For example, if you accidentally damage a client's window while working, this insurance would cover the repair costs. Simple and crucial for peace of mind.

Additional Insurance for Contractors in Ontario, Coverages You Should Consider

Tools & Equipment Insurance

This coverage is crucial for contractors as it protects against the loss, theft, or damage of tools and equipment. Since contractors rely heavily on their tools and machinery to perform their work, this insurance helps to ensure that they can replace or repair their essential equipment quickly in case of unexpected incidents.

Employee Dishonesty/Crime Insurance

This type of insurance provides protection against financial losses due to the fraudulent or dishonest acts of employees. This can include theft of money, securities, or property. For contractors, where employees might have access to various resources or sites, this insurance is beneficial to mitigate risks associated with employee misconduct.

Installation Floater

An installation floater is a type of insurance that covers materials from the moment they are loaded onto a transport vehicle until they are installed and accepted by the purchaser. For contractors, this is particularly important as it covers the materials in transit, onsite, and during the course of installation. It's a crucial coverage considering the potential risks associated with transporting and installing valuable materials.

Pollution Liability Insurance

This insurance provides coverage for third-party claims for damages caused by hazardous waste materials or pollutants that are released due to negligence of the contractor. Given the nature of some contracting work, there's a risk of accidental pollution, such as spills or contamination. Pollution liability insurance helps protect against the legal and cleanup costs associated with such incidents.

Common Exclusions under Contractor Liability Insurance

Although every policy is different and it is best to speak with a Licensed Contractor Insurance Broker about an individual policy, typical exclusions may include

  • Injury to owners and employees
  • Poor or faulty workmanship
  • Events that give rise to pollution
  • Design work or advice
  • Among Others – others exist and it is best to speak with a licensed broker.

Ways to Save on Contractor Insurance in Ontario

Shop Around

don’t settle just for one contractor insurance quote. Compare quotes from multiple insurance providers including insurance agents and companies directly. Ensure you’re getting the best contractor insurance coverage at a fair price.


Some insurance companies may give discounts if you bundle your commercial auto insurance with the same company – ask.

Understand Your Needs

make sure you understand exactly what coverage you need. Over-insuring can lead to unnecessary costs, while under-insuring can leave you vulnerable should a claim occur. Tailor your policy to your specific risks.

Risk Management

implement effective strategies such as safety training, maintain a safe worksite and asking important questions before work begins.

Pay Annually

some insures charge for paying monthly, paying annually can sometimes save you some money which adds up over the years.

Ask for Discounts

Don’t hesitate to ask your contractor insurance company or broker about any discounts that may apply to you such as being claims free.

Review Regularly

As your business changes, so do your insurance needs. Review your policy frequently to make sure it still fits your business and always reflect your business operations accurately.

Higher deductibles

Opting for a higher deductible can lower your premium costs. However, ensure that you can afford the deductible in case of a claim.

Tips for Contractors

Collect Certificates of Insurance

Ensure that all subcontractors you work with have valid insurance coverage, protecting you and your clients from potential liabilities.

Focus on Safety

Prioritize safety measures at job sites to protect your team and prevent accidents, reducing both financial and human costs.

Vet Sub-contractors Carefully

Thoroughly screen and choose subcontractors who meet your standards for quality work and professionalism.

Stay on Top of Paperwork and Bookkeeping

Maintain accurate records, invoices, and financial documents to track expenses, income, and taxes efficiently.

Focus on Client Satisfaction

Deliver exceptional service, address client concerns promptly, and prioritize customer satisfaction to build a positive reputation and generate referrals.

Don't Sell Yourself Short

Set competitive but fair pricing for your services to ensure you're adequately compensated for your work, expertise and the use of your tools and equipment

Ask for Feedback

Regularly seek feedback from clients and colleagues to identify areas for improvement and ensure you meet or exceed expectations.

Stay Organized

Keep your projects, schedules, and materials organized to prevent delays, reduce waste, and improve efficiency.

Invest in Quality Tools

Purchase and maintain high-quality tools to enhance productivity, ensure safety, and deliver superior workmanship.

Continuously Improve Skills

Stay updated with industry trends and technology, attend training programs, and strive for ongoing skill development to remain competitive and provide top-notch services.

These are tips most businesses in Ontario, Canada should follow. By building a reputable business with solid client satisfaction and safety records you are building a strong business that will get referrals for years to come. The above is just general info it shouldn’t be relied upon as advice.

Contractor Insurance Claim – A Real World Example

A contractor was hired to install an Ethernet internet cable in a senior’s residence. When drilling through a wall, the contractor accidently hit a main water supply pipe. This caused damage to the floor and walls below.

  • The Amount Paid By the Insurance Company $82,500
  • The Amount Paid by Our Contractor $1,000

As you can see our contractor was responsible for paying their $1,000 deductible and the rest was paid by the insurer. The contractor’s insurance policy only cost $1,500 annually.

Following the incident, the contractor has implemented proactive measures to enhance safety and reduce risks in future projects. These measures include thorough verification of utility blueprints before beginning any work, engaging a specialized third-party service to accurately mark utility lines in the work area, and adopting additional risk management strategies to prevent similar occurrences

Disclaimer: This example is for illustrative purposes only and should not be interpreted as insurance advice or reflective of specific policy coverage. Insurance terms vary significantly, and the details of each claim are unique. This scenario is not indicative of all situations and should not be relied upon for personal insurance decisions. Consult a qualified insurance professional for advice tailored to your specific circumstances.

Contractors in Ontario

Ontario, Canada's diverse contracting and construction industry is thriving, fueled by a consistent demand for skilled labor. Across cities and regions, opportunities abound in residential and commercial construction, renovations, and infrastructure projects. The industry, while grappling with a shortage of skilled professionals, offers a unique chance for dedicated contractors to excel. From the bustling Greater Toronto Area to projects across various specialties in Ottawa, each region in Ontario presents distinct contracting opportunities, making it an exciting and rewarding market for skilled and hardworking contractors.

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