Trades and Contractor Insurance in Mississauga

Contractors Insurance is your partner in bringing your business or professional practice to a more secure and successful future.
We are an award-winning commercial insurance brokerage that specializes in providing personalized insurance policies for Mississauga contractors, tradespeople, and professionals. Our expert team is ready to help, every step of the way.

Customized Insurance Policies for Mississauga Contractors

Mississauga is a global city focused on creativity and innovation, with around 5.6% of Ontario’s population. Given that there are around 504,000 people employed in Ontario’s construction workforce, a significant portion of them are active or will be active in the growing city of Mississauga.  

The number of projects in the city is expected to rise in alignment with Mississauga’s Economic Development Strategy which concerns supporting global-minded businesses and delivering durable infrastructure among other key points. 

Currently, Mississauga has ongoing new housing projects consisting mainly of single-detached homes, townhouses, and condos. There are also various projects concerning the city’s water main, sanitary sewer, and regional roads.     

The construction and trades industry will grow increasingly competitive in the area. Therefore, risk management is crucial for businesses providing construction labour, architectural/ engineering expertise, and other related services. Contractors insurance in Mississauga can truly make all the difference in helping your business succeed. 

What is Contractors Insurance?

Jobs related to construction and trades are some of the most dangerous in the world. In fact, the average number of construction-related deaths in Ontario is 20 per year. Though the number may appear small, one death is one too many.  

However, risks extend beyond the workers themselves. Third-party individuals around the vicinity of construction or renovation, having no protective equipment and safety training, are at an even higher risk. In fact, Mississauga has had a recent incident of third-party fatality, related to construction, in early 2021. 

All-in-all, the following are collective risks faced by contractors, tradespeople, and professionals involved in this line of work: 

• 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 
• Vandalism or theft involving the project site or the tools/equipment

A personalized contractors insurance Mississauga can help you save thousands to millions of dollars from the above unforeseen events (and more).

Contractor and trades insurance is a broad term that pertains to various insurance coverages for contracting businesses, independent contractors, tradespeople, and professionals in related fields. Commercial general liability (CGL) insurance is considered the foundation for such insurance bundles; however, you can also have additional coverage to suit your business’s needs. 

Our Mississauga Contractors and Trades Insurance Types

Commercial General Liability Insurance

Commercial general liability insurance is vital because it protects your business from a wide range of lawsuits related to third-party bodily injuries, which are common unfortunate occurrences near project sites. Third-party bodily injuries within your business premises are also covered.  

In addition, CGL gives you coverage for damage to third-party property such as nearby houses, cars, the client’s property itself, and so on. Last but not least, reputational or advertising injuries (e.g. slander, libel, copyright infringement, violation of privacy) are also covered. 

Builders Risk Insurance

Builder’s risk insurance protects you from risks related to the unfinished project. This insurance coverage will protect you from consequential losses following damage, vandalism, or theft towards an unfinished project site or building under construction.  

Surety Bonds

In some cases, clients or partners will require your contracting business to be bonded or they may simply prefer a contractor who can provide this level of guarantee. 

Surety bonds act as a promise or financial guarantee that a job task will be carried out in accordance with the contract, with industry regulations, and the law. Surety bonds will also protect you from sudden financial loss if a contract or regulation is breached. There are a number of surety bonds you can choose to set up. Some of the common types include performance bonds, payment bonds, and license/permit bonds.      

Pollution Liability Insurance

In the event that your operations (or completed project) cause sudden pollution, gradual pollution, or the spread of mould/Legionella, pollution liability insurance covers you from financial loss. Emergency response costs, cleanup costs, as well as legal fees & settlements are all included in this coverage type. 

Construction Equipment Insurance

Your business invested thousands of dollars (or more) in tools and equipment for the job; construction equipment insurance is here to protect that investment. This insurance type covers replacement costs in the case owned/borrowed/rented tools or equipment are damaged or stolen. 

Freight Forwarder Insurance

Do you regularly have materials and equipment in transit? Whether you are hiring a freight forwarding service to do the job or you’re transporting materials/equipment yourself, this insurance type covers your business from consequential loss if your transported materials/equipment are vandalized, damaged, or stolen. 

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 typically includes a form of professional liability insurance or Errors & Omission insurance that’s tailor-fit for engineers. This insurance coverage protects you in the event that lawsuits are served following personal injuries, client dissatisfaction with your services, claims of negligence, and so on. 

Accountant Insurance

Accountant insurance typically includes a type of professional liability insurance or Errors & Omission insurance that’s personalized for the needs of accountants. This type of insurance protects you, as a contractor accountant, from liabilities resulting from claims of negligence, misrepresentation, and/or inaccurate advice. 

Why Choose Contractor Insurance?

Trusted by hundreds of clients in Mississauga and all over Canada, Contractors Insurance is a cut above the rest due to our customer-centric approach. We offer the following to enhance your experience with us.  

• Personalized insurance plans that cover exactly what your business needs
• Cutting out unnecessary riders to help your business save in the long run
• 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

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

Professional Insurance Mississauga Contractors Can Count On

Contractors Insurance is a trusted and award-winning insurance brokerage firm based in Toronto. Through our years of service, we’ve focused on helping contractors, tradespeople, and professionals to get personalized insurance plans that will help them be ready for anything. 

When your business or professional practice is protected from a wide array of unforeseen events like accidents and lawsuits, you can have peace of mind and focus on what really matters. 

Contact us today or get started with a quick quote!