Contractor insurance in Ontario varies broadly both in terms of coverage and premiums. Unlike auto insurance, the specifics of contractor insurance are not dictated by regulation.
More than 30 different companies offer contractor insurance in the province, and each has a slightly different combination of coverages, and sets their premiums accordingly.
Did you know?
Mitch can provide a quote from most of the insurance companies selling contractors insurance in Ontario. Give us a call and we’ll save you money AND time.
Some insurers are cheaper than others, some will cover businesses that others won’t, some offer unique add-on coverages that you may want, and some offer better service. When shopping for contractor insurance, you will want to consider a number of factors before deciding which insurance company is right for you:
- What kind of contracting do you do (general, electrical, plumbing etc.)?
- How long has the business been around?
- Do you have employees? Subcontractors?
- How much experience do you and your employees have in the trade?
- How much would it cost to replace your business tools and equipment?
- Do you use a vehicle in connection with your business?
- How long can your business survive without tools in the event of a theft, fire or other loss?
- Are you mostly just interested in getting the cheapest insurance possible?
Depending on your answers, there are likely a number of insurance companies that will insure you, but some will be able to meet your needs better than others.
Is my business high risk?
Mitch can provide a quote from most of the insurance companies selling contractors insurance in Ontario. Give us a call and we’ll save you money AND time.
Insurance companies decide which businesses they want to insure according to the level of risk associated with that business, and they set premiums accordingly. Risk in this case is not just risk of someone getting hurt. It’s also risk of causing damage to property. Here are a few things that may make your business high risk:
- Working at heights
- Working at or on airports/railways
- Working with heat sources (welding, roofing etc.)
- Working with flammable/explosive materials
- Snow removal
- Working below ground (mines etc.)
- Working with toxic material
- Working with water sources (plumbing, pools etc.)
- Moving or raising structures
- Use of a crane
- Demolition
- Excavation/tunneling/drilling
- Logging
- Working on ships/docks
The above is not a comprehensive list. Speak to one of our brokers to understand what kind of risks are associated with your business and find the best coverage to fit your needs.
Complete list of insurance companies offering contractors insurance:
Different insurance companies specialize in different types of insurance. Just because an insurance company insures contractors, doesn’t mean they will insure any contractor, and they may not sell the type of specialized coverage you need.
For your convenience, we put together the list below based on data from Canadian Underwriter’s insurance product directory. This list may give you a sense of what kind of coverage is available, and from whom.
| General liability | Contractor’s vehicles | Contractor’s equipment (floater) | E&O, malpractice, professional liability | Pollution | Pollution remediation | |
|---|---|---|---|---|---|---|
| A.M. Fredericks Underwriting Management Ltd. | Yes | No | Yes | Yes | Yes | Yes |
| Agile Underwriting Solutions | No | No | Yes | No | Yes | Yes |
| Approved Surety & Casualty Inc. | Yes | No | Yes | Yes | Yes | Yes |
| April Canada Inc. | Yes | Yes | Yes | Yes | Yes | Yes |
| Aurora Underwriting Services Inc. | Yes | No | Yes | No | Yes | No |
| Aviva Canada | Yes | Yes | Yes | No | No | No |
| Burns & Wilcox Canada | Yes | No | Yes | Yes | Yes | Yes |
| Cansure | Yes | Yes | Yes | Yes | No | No |
| CHES Special Risk Inc. | Yes | Yes | Yes | Yes | Yes | Yes |
| Chutter Underwriting Services | Yes | No | Yes | Yes | No | No |
| Coachman Insurance Company | Yes | No | Yes | No | No | No |
| Eagle Underwriting Group Inc. | No | No | Yes | No | Yes | No |
| Echelon Insurance | Yes | Yes | No | No | No | No |
| Economical Insurance | Yes | Yes | Yes | No | No | No |
| Victor Insurance | Yes | No | No | Yes | Yes | Yes |
| Evolution Insurance Inc. | Yes | No | Yes | Yes | No | No |
| Frank Cowan Company | No | Yes | No | No | No | No |
| GROUPASSUR Canada | Yes | No | Yes | Yes | Yes | Yes |
| GroupOne Insurance Services Inc. | Yes | No | Yes | Yes | Yes | No |
| Ironshore Canada | Yes | No | No | Yes | Yes | Yes |
| Liberty International Underwriters | No | No | No | Yes | Yes | Yes |
| Markel | Yes | No | Yes | Yes | Yes | Yes |
| Milnco Insurance Broker Solution Centre | Yes | No | Yes | No | No | No |
| Northbridge Insurance | Yes | Yes | Yes | Yes | No | No |
| RSA Canada | Yes | Yes | Yes | No | No | No |
| SGI Canada | Yes | Yes | Yes | No | No | No |
| South Western Group | Yes | Yes | Yes | Yes | Yes | Yes |
| SUM – Strategic Underwriting Managers Inc. | Yes | No | No | No | Yes | Yes |
| Totten Insurance Group | Yes | No | Yes | Yes | Yes | Yes |
| Travelers Canada | Yes | Yes | Yes | Yes | No | No |
| Trinity Underwriting Managers Ltd. | Yes | No | Yes | Yes | No | No |
| Underwriting Solutions LP | Yes | No | Yes | Yes | Yes | Yes |
| Xpert Underwriting | Yes | No | Yes | No | Yes | Yes |
Please note: The above list is not comprehensive. Not all insurers choose to be listed, and there may be insurers that have recently started offering contractor insurance and are not listed yet. Mitch works with most of the above insurers, and others that are not on the list. We would be happy to provide a quote based on the particulars of your contracting business.
Best insurers as rated by other contractors:
In Canada, there are no official ratings for contractors insurance, but if you are considering a particular insurance company, you may be able to find reviews online. (Note: Most reviews will be related to auto insurance. Also, people are much more likely to review a business if they’ve had a bad experience, and insurance does suck sometimes, so take the reviews with a grain of salt.)
Because every insurance company offers a slightly different insurance product for contractors, no one company is going to be the best for every contracting business. However, there will be a few that are the best for your contracting business. As a broker with access to most of the insurance companies in Ontario, Mitch is happy to help you navigate the world of insurance to get you the right coverage at the best possible price.
Looking for contractor insurance?
Speak with a Mitch Insurance broker today to get a quote on Ontario contractor insurance. Learn more >
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