Trades and Contractor Insurance in Burlington

Contractors Insurance specializes in providing personalized insurance for Burlington contractors, tradesmen, and professionals.

We are an award-winning commercial insurance brokerage company with an in-depth understanding of the unique needs of the industries we serve. Our expert team will provide hands-on assistance to bring your business to a more secure and successful future. 

Customized Insurance Policies for Burlington Contractors

In Ontario, there are nearly 504,000 people employed in the construction workforce. Part of this workforce is actively working to sustain the needs of Burlington as a growing city. 

In line with the city’s 1.44% average annual population growth rate, the city currently has 20+ nBurlington’s economic development ew home developments that are primarily new condos and townhouses. In addition, plan is centered on transforming the area into a location of choice for businesses and talent. Thus, there are numerous ongoing reconstruction projects in the city. 

With the influx of opportunities to partake in exciting Burlington projects, competition is rising. No business can afford the grinding halt caused by unforeseen events. This is why proper risk management through contractors insurance Burlington is the key to a successful future. 

What is Contractors Insurance?

Trades and construction jobs are some of the most dangerous in the world. In fact, the average number of construction-related deaths in Ontario is 20 per year, while the number of construction-related serious injuries is at 357 per year. 

You can find incidents of recent construction-related deaths or injuries for almost every city in Ontario. For Burlington, a fall-related incident occurred in late 2020 and a third-party injury was caused by a construction vehicle in early 2021. 

Accidents like these happen due to the inherent risks of construction and renovation activities. Here are a few common examples: 

• Injuries to the workers or personal injury
• Injury to third parties near the project site
• Accidental property damage
• Client lawsuit due to errors 
• Damage to the structure being built or the tools/equipment therein
• Vandalism or theft involving the project site or the tools/equipment

A personalized contractors insurance Burlington can help save you thousands and even millions of dollars from various unforeseen events, such as the ones above.

Contractor and trades insurance is a broad term for insurance policies that benefit contractors, tradespeople, and other professionals that are involved in such high-stakes projects. The foundation of contractor and trades insurance is the commercial general liability (CGL) insurance; however, options for additional coverage are also available. 

Our Burlington Contractor and Trades Insurance Types

Commercial General Liability Insurance

Commercial general liability insurance protects Burlington contractors from financial loss should a lawsuit be served relating to third-party property damage (e.g. nearby houses, the client’s home) or third-party bodily injury. 

Third-party bodily injury due to business operations or a failure in the completed project is included. Injuries within business premises (e.g. the office, project site) are also covered.  

Furthermore, your business will be protected when faced with claims of reputational or advertising injuries (e.g. slander, libel, copyright infringement, violation of privacy.)

Builders Risk Insurance

Builder’s risk insurance is must-have contractor insurance that covers you in the event that damage, theft, or vandalism is inflicted on a structure being constructed. This also covers (to an extent) the tools, equipment, fixtures, and materials used. 

Surety Bonds

Surety bonds act as a promise or financial guarantee that you will complete a task within the stipulations of a contract, standard regulations, and legal bounds. In case there is a breach of any of the above, surety bonds will protect your business from sudden financial loss. 

There are various surety bonds you can set up, including performance bonds, payment bonds, and license/permit bonds. These are either required of you or you may choose to be bonded in order to gain client preference and trust.

Pollution Liability Insurance

Pollution can be due to improper waste disposal, faulty installations, and various other factors. Should your business be found responsible for causing sudden/gradual pollution or the spread of mould and legionella, pollution liability insurance covers the needed emergency response costs, cleanup costs, and/or legal fees and settlements. 

Construction Equipment Insurance

Construction equipment insurance protects your business from replacement costs in the event that owned/borrowed/rented tools or equipment are damaged, vandalized or stolen. 

You have invested thousands of dollars to get the tools and equipment that you need; this insurance type helps you protect that investment.

Freight Forwarder Insurance

Freight forwarder insurance covers you from consequential loss in the event that your transported materials/equipment are damaged, stolen, or vandalized. This insurance type covers you whether you hire a freight forwarding company to do the job or you are using your own vehicles for transport. 

Note: Freight forwarder insurance is a commonly used term to refer to insurance for contractors who enlist the services of a freight forwarder, however, such insurance would also extend to contractors who move materials and equipment themselves. This is NOT to be confused with “freight forwarder’s insurance” which is typically set up for the interests of the freight forwarding businesses.   

Engineer Insurance

Engineer insurance refers to an insurance bundle specifically designed for engineers and engineering firms. The core part of this is professional liability insurance (or Errors & Omission insurance) that’s tailor-fit for engineers.

Professional liability insurance provides coverage for bodily injuries, claims of negligence, or client dissatisfaction with rendered services. However, additional coverages can be bundled with this insurance type depending on the needs and preferences of the engineer. 

Accountant Insurance

Accountant insurance refers to an insurance bundle for accountants. The fundamental coverage included in this is professional liability insurance (or Errors & Omission insurance.) For accountants, this insurance type provides coverage from liabilities related to claims of negligence, misrepresentation, and/or inaccurate advice. Accountant insurance, however, can include additional coverage depending on specific needs and preferences.  

Why Choose Contractor Insurance?

Contractors Insurance is trusted by hundreds of clients in Burlington and throughout Canada. We seek to provide an insurance experience that is customer-centric and eliminates common business insurance obstacles. Here’s what we offer:

• Personalized insurance plans that cover exactly what your business needs
• A straightforward explanation of all things insurance, every step of the way
• Transparency and initiative to clarify what’s covered and what isn’t covered in every insurance plan we set up
• The elimination of unnecessary riders to help your business save

We specialize in providing insurance to all kinds of professionals, contractors and tradespeople. Our clientele consists of the following:

Professional Insurance Burlington Contractors Can Count On

Contractors Insurance is a trusted and award-winning insurance brokerage firm based in Toronto. We have helped numerous Burlington contractors, tradespeople, and professionals in getting customized insurance that protects their business and helps them save in the long run. 

With our insurance plans and dedicated assistance, you will have unparalleled peace of mind that allows you to focus on what really matters. 

Contact us today or get started with a quick quote!