Contractors Insurance – Do I need it?

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As a small business owner you work hard doing everything from sales to human resources and everything in between. It is important to protect your hard work by investing in contractors insurance.

In Ontario you are required to register your independent construction company with the Workplace Safety and Insurance Board and retain certain mandatory insurance coverages. This mandate applies to both very large and very small contracting businesses.

Wading through the complicated laws and regulations regarding contractor insurance can be a full-time job. Pile this on top of the already over full work load of a small business owner and it is no surprise that many small business owners feel that they are working themselves to death and still not getting ahead.

Absolute Insurance Brokers want to make contractor insurance as easy as possible to understand and acquire so you can get back to managing and growing your business.

What Type of Contractors Insurance Do I Need?

While there are many different packages of insurance coverages available, regardless of the size of your company you will need some basic types of insurance coverage. Here are a few of them:


You have invested heavily into outfitting that truck or trailer with all the tools and equipment you need to get the job done. If your equipment breaks down or gets damaged this is the coverage you need.


Liability is a general term that covers many different risks on the job site from finished work to trips and falls. With the amount of lawsuits happening in today’s society this is an absolute necessity.

Business Interruption

Business interruption can occur for many reasons, this coverage protects your income from certain insurable events.

Customer Disputes

Disputes seem to be unavoidable in the contracting business and even a single one can have a huge impact on a small business. This coverage will protect your business while the lawsuit progresses.

Completed Operations

This coverage protects contractors from lawsuits that may occur months or years after a job is completed.

Business Property

Just as you protect your personal belongings you need to protect your business property. Materials, supplies, equipment and other assets stored at your business location or on site can be protected under business property insurance policy


Having a contractor insurance policy not only gives you peace of mind but it can do the same for your clients. Having a policy in place can help build trust with a client and can even help getting a job if bidding against other companies.

Absolute Insurance Brokers has the expertise you need to make sure you, your family, and your business are covered. Give us a call today at 1-877-941-2266 or email us to discuss your business with an experienced broker.

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