Waterproofing Contractor Insurance

Waterproofing Contractor Insurance

Contractors Insurance is a trusted and award-winning commercial insurance brokerage based in Ontario. We provide personalized insurance plans for various contractors and tradespeople, and one of our specialties is waterproofing insurance.

Waterproofing contractors face numerous risks while on the job, from bodily injury to getting sued due to negligence. As a waterproofing contractor, you need to protect yourself with customized insurance to ensure your finances stay secure. 

What Is Waterproofing Insurance? 

Waterproofing insurance is more than just a standard insurance policy. It’s specifically designed to cover workmanship, equipment, and other materials used by waterproofing companies and independent contractors alike.

It’s a specialized insurance policy that’s typically bundled with other policies and often includes the following: 

Commercial General Liability Insurance 

While waterproofing homes and buildings, there’s always the risk of causing third-party property damage or physical injury to civilians. When this happens, a lawsuit could be filed against you, leaving you to pay hefty settlement costs. 

Commercial general liability insurance (CGL) protects your waterproofing business in scenarios where you need to defend yourself legally. It covers injuries and property damage related to business operations and third-party bodily injuries.

If your work causes moisture damage later on, general liability insurance will also cover third-party property repairs. It also covers advertising or reputational harm such as libel, slander, and copyright infringement.

Commercial Auto Insurance 

Waterproofing contractors often use company-owned vehicles to and from project sites. This means they spend a significant amount of time on the road where they’ll encounter hazards such as collisions or traffic that may cause project delays.

As such, commercial auto insurance is needed to cover risks, including bodily injury, property damage, and vehicular damage in case of accidents. This kind of policy also covers theft, vandalism, fires, floods, and other perils.

Commercial Property Insurance 

Commercial property insurance is crucial for any business that has a physical office where valuable equipment or materials are stored or where clients are received.

Your insurance coverage also helps pay for damages and loss of property caused by a covered peril, plus lost income due to commercial property damage.

Installation and Tool Floater Insurance 

Waterproofing contractors rely on their tools and equipment to keep their business going. When these items are lost, damaged, or stolen, this causes major delays.

This is why installation and tool floater insurance is often bundled in waterproofing contractor insurance. It provides coverage for tools and uninstalled materials so that your operations aren’t impacted by theft or accidental damage.

Pollution Liability Insurance 

Waterproofing contractors handle various chemicals on the job. They often work in areas such as basements that are damp and susceptible to mould growth. In case of a chemical-related accident or a claim involving mould arises, pollution liability insurance will cover settlement fees as well as any cleanup costs.

Workers’ Compensation Insurance 

No matter how careful you are, accidents happen on construction sites. 

This is why your waterproofing company needs to have workers’ compensation insurance. It helps you pay for medical bills if your employees are injured, become ill, or are left unable to work due to an accident.

Who Can Benefit From Waterproofing Contractors Insurance Coverage? 

Whether you own a large company or run an independent business, your waterproofing business is sure to benefit from having customized insurance.

Insurance for waterproofing contractors is recommended if you:

• Regularly drive to different project locations
• Use high-powered tools and equipment while working
• Excavate around foundations
• Work on damp, mould-prone areas like basements
• Use chemical compounds that might contaminate soil if spilled or used incorrectly
• Have a physical location for storing materials and meeting clients

Why Is It Important for Ontario Contractors to Have Waterproofing Insurance? 

Competing for customers is challenging for waterproofing businesses. It is a big investment, so earning customer trust is crucial. Having a risk-management strategy in place will present your business as trustworthy and reliable.

Waterproofing Company Insurance Claims Example

Leading Provider of Insurance for Waterproofing Contractors in Ontario

We provide clients with comprehensive insurance services. Below are some of the benefits you can expect from our dedicated team.

Personalized Insurance Plans 

We offer customized coverage that will cost-effectively protect your business—with no unnecessary riders driving up your bill. 

Utmost Transparency on Coverage and Limitations 

Insurance jargon can be confusing. We do everything we can to be as proactively transparent as possible. Our team will walk you through all the key details of your insurance, such as what triggers a claim and the exclusions present in your policy.

Thorough and Straightforward Insurance Education 

Every client is a partner to us. We’re here to be a constant source of information and expert insights on business insurance.

Frequently Asked Questions About Waterproofing Contractor Insurance

Ready to Get the Coverage You Need?

As a top-rated insurance brokerage company, Contractors Insurance provides high-quality customer service. 

Whether it’s explaining what your coverage includes to filing claims, we will be there with you every step of the way. Our team of experts stands ready to assist you in personalizing your insurance policy, ensuring you get the coverage you need at competitive rates. 

Interested in waterproofing insurance? Call us now to get a free quote!