Trade Contractors Insurance

Trade wood working
Two contractors looking at clipboard while on a construction site.

We know that contracting risks come in different forms. Exposures can vary in size and complexity, and they can evolve as the project continues. We’ve built a trade contractors’ insurance package with these facts in mind. Our trade contractors’ insurance policy also includes features like Contractor’s Equipment Floater and Testing of Building Systems. We can put together a carefully tailored policy that speaks to your company’s specific needs.

We can customize a contractor’s insurance policy to suit your trade, the size of your business, and your region. If you run a smaller operation, find out what our small business insurance package can offer you.

What’s included in your policy?

Our insurance policy for contractors in specific trades combines the core coverage you expect with enhanced features that could save your project and your bottom line, like contractor’s equipment floater, contractor’s rework, contractor’s error and omissions, and contractor’s installation floater. Our tailored coverage is ideal for building contractors who specialize in electrical work, interior finishing, concrete installation, civil and excavation, mechanical, and oil and gas.

Other coverages include:

When can our trade contractor’s insurance policy come to your rescue?

From equipment damage to material and installation problems, contractors can run into many challenges on the job. When a project takes a turn for the worse, you need strong support to help you react swiftly and wisely. That’s where your Northbridge policy comes in. There are several coverages in your Northbridge Insurance policy that can be particularly helpful. Here are just a few to consider:

Sometimes problems can arise even before the work gets underway. A contractor who’s remodeling a home may store a load of hardwood in a facility offsite until the floors are ready to be installed. If that storage facility burns down while the wood is in there, the contractor could be facing a hefty replacement expense. An Installation Floater extension can cover labour and materials involved in installation, including property temporarily stored at another location.

If you were hired to install drywall panels in a basement but the materials you used did not meet industry standards, you may have to remove the drywall and fix up the space before the project can be done properly. Those costs can be high, but Contractor’s Rework can help cover expenses relating to correcting faulty workmanship or material – plus the cost it takes to return the project to its pre-existing condition.

Mistakes happen, so it’s good to have a safety net in case of a slip up. Consider this: you install an electrical system under the sub-floor of a small store, but the wiring is found to be faulty, requiring the store to close while the problem is fixed. The store owners could bring a claim against you for the cost of hiring another contractor and the income they lost while the store was closed. Your Contractor’s Error and Omissions coverage is designed to cover some of the cost relating to your error, omission, or negligence that led to unsatisfactory results.

If employees ever use their own cars for business errands, this extension can be a crucial addition to your policy. If, for instance, an employee drove their own car to pick up tools for a job and got into an accident on the way, their own insurance may not cover the cost of damage or expenses arising out of an injury to another driver. Non-Owned Automobile can provide coverage in this situation.

Managing Risk

We know that your unique set of risks can differ from those of general contractors, and we believe that you can avert some of those exposures with the right information and some smart guidance.

Our value-added services focus on helping you identify and mitigate the risks your business faces each day. From fire and theft to water damage and third-party injury, contracting hazards can come in many forms. In-person consultations and project site assessments carried out by our experienced Risk Services experts can leave you with the knowledge and confidence you need to protect every aspect of the business you’ve worked so hard to build.

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