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Locksmith Insurance

With Contractors Insurance, you can rest assured that your business is in good hands. We are an award-winning commercial insurance brokerage specializing in providing personalized contractor insurance for all kinds of industries in Ontario.

Whether you are an independent locksmith or a locksmith company, our customized locksmith insurance will give your business the needed protection from various liabilities and risks unique to your industry. 

Through the years, we have served various kinds of contractors, committing ourselves to the highest calibre of service. We can assist you with everything you need to run your business with full confidence and peace of mind. 

What Is Locksmith Insurance?

Locksmith Insurance refers to a type of insurance policy or insurance bundle that protects the locksmith company or an independent locksmith from risks and liabilities that can lead to financial loss. 

Many locksmith businesses are happy and satisfied with having only commercial general liability insurance. However, despite its many benefits, it does not protect you from everything. 

Fortunately, there are other policies that you can add to have for better protection.  

When you sign up with Contractors Insurance’s personalized locksmith insurance policy, you can get the following benefits:

Commercial General Liability Insurance

Locksmith insurance with commercial general liability insurance features offer the following benefits:

  • Third-party injuries and property damage caused by business operations – Locksmiths typically go to client properties to repair, install, open, or change locks, where there’s a possibility of accidental property damage or injury from mishaps.
  • Third-party injuries that occur within business premises – This covers the medical expenses or legal fees if clients or bystanders get hurt at your establishment.
  • Advertising or reputational injuries – CGL insurance also protects you from lawsuit costs from libel, slander, and copyright infringement.

Commercial Auto Insurance

Most locksmith companies own a vehicle or a fleet of service trucks that they need to get around, which may be one of the most expensive and essential physical assets they have.

If your locksmith insurance includes commercial auto insurance, you will be compensated from medical expenses, legal fees, and repair or replacement costs in the event of:

  • Injuries and property damage caused by your commercial vehicles
  • Theft or vandalism inflicted on your commercial vehicles

Commercial Property Insurance

If you have an office, workplace, or headquarters where you store valuable equipment, documents, computers, or furniture, commercial property insurance is a must. Commercial property insurance, as part of your locksmith insurance, acts as a safety net in case you suffer from financial loss due to:

  • Theft or vandalism is inflicted on your workplace
  • Natural disasters damage your workplace or limit its accessibility
  • Income loss due to business disruption from unexpected events

Workers’ Compensation

This insurance policy offers the following benefits:

  • The ongoing treatment costs due to a work-related injury
  • Lost wages during recovery, if injured or became ill while on duty
  • Disability and death benefits
  • Funeral expenses

Who Can Benefit From Locksmith Insurance Coverage?

Locksmith insurance can benefit independent locksmiths or registered companies, both big and small, that provide lock repairs, installation, unlocking services, and develop keyless management systems and building and facility security solutions.

Why Is It Important for Ontario Locksmiths to Have Locksmith Insurance?

Working with private residential or commercial properties and automobiles, locksmiths are at greater risk of causing property damage. Unbonded service providers or those who operate without locksmith insurance are at risk of shouldering the total expenses. On top of protecting you from probable potential loss, locksmith insurance also puts you ahead of the competition. Most clients require licenses and certifications but insurance coverage, too, when screening locksmith service contractors.

Locksmith Insurance Claims Examples

Claims Example #1

  • Problem Icon

    The client left his keys inside the car and called your services to unlock it. Your employee accidentally scratches the paint and damages the car door, making the client upset. 


  • Outcome Icon

    Your commercial general liability coverage will cover the cost of repairs and settlement fee (estimate  $1500) if the client takes you to court.

Claims Example #2

  • Problem Icon

    One of your company-owned trucks gets into an accident, requiring repairs and damaging a third-party vehicle

  • Outcome Icon

    If the third-party person successfully sues you for property damage, your commercial auto insurance will cover the legal fees as well as the repair or replacement for both vehicles (approximately $18,000).

Claims Example #3

  • Problem Icon

    An elderly customer gets badly hurt after slipping from the stairs to your office.

  • Outcome Icon

     If the customer seeks legal action, your commercial general liability will cover the medical expenses on top of the legal and settlement fees (approximately  $95,000).

Leading Provider of Commercial Liability Insurance in Ontario

At Contractors Insurance, we are guided by our customer-centric mindset. So when you sign up with us, you can expect:

Personalized Insurance Plans 

Our personalized locksmith insurance plan will give you the coverage you need to protect you from risks unique to your industry without wasting money on costly, unnecessary riders. 

Utmost Transparency on Coverage and Limitations 

We’ll provide everything you need to know to understand your insurance plan as much as we do. We’ll guide you and give necessary information about what triggers a claim, the steps in filing a claim, and potential exclusions in your policy. 

Thorough and Straightforward Insurance Education 

You can count on us as your partners in protecting your business. If you need a source of unbiased information and expert recommendations on insurance, we’ve got you covered. One of the things we love to do is help our clients understand insurance to make the best business decisions.


Frequently Asked Questions About Locksmith Insurance

Typically, the basic commercial general liability policy for locksmith insurance costs around $40 per month for a coverage limit of 1 million dollars. Although fees can increase if you add more policies, bundling insurance coverage is more cost-effective. 


No. However, it’s almost a requirement for most clients because they feel safer working with locksmiths that have, at least, a commercial general liability insurance program set up.

Ready to Get the Coverage You Need?

Give yourself the peace of mind you deserve while managing and growing your locksmith company. To learn more about our locksmith insurance, contact us today or get started with a quick quote!

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