Contractors Insurance Ontario | W.B. White (2024)

FAQs

What insurance should contractors have in Ontario? ›

In order to operate a business in Ontario you are required by law to carry commercial general liability insurance. Often times with construction or trade jobs you will be required to show a certificate of insurance or proof of insurance.

If you are a handyman working as a subcontractor, the main contractor will almost always ask to see proof of insurance. Usually, you'll need at least $1 or $2 million in liability coverage.

Business liability insurance is not legally required in Ontario, but it is highly recommended. Business insurance costs depend on your company type, size, industry, operations and many other factors. Get a quote for an accurate premium estimate.

CAR offers comprehensive protection against physical loss or damage to the building in relation to contract works and other civil engineering works; construction plant and equipment and/or construction machinery.

The minimum requirement for mandatory auto insurance in Ontario is $200,000 in Third Party Liability, Direct Compensation – Property Damage, Accident Benefits, and Uninsured Automobile coverage.

The cost of a policy for a small handyman business working on residential projects typically starts at $450 per year for commercial general liability insurance with a $2 million coverage limit.

As of Aug 1, 2024, the average hourly pay for a Handyman in Ontario is $20.97 an hour.

If something happens to your property – like a fire , windstorm , or hail damage – house insurance is there to repair or replace it. If you don't have property insurance and the worst happens, you're on the hook for paying out of pocket to repair or even replace your home and other detached structures (like a garage).

Obtain necessary certifications

Although a licence may not be mandatory to work as a handyperson across Canada, plumbing and electrical work may require certification and completing an apprenticeship program. Be sure to research and learn the requirements for your province or territory.

Average Costs for Ontario Businesses

Typically, Ontario small businesses might expect to pay between $450 and $2,000 annually for general liability coverage with a $2 million limit. This span accommodates the diverse nature of businesses, from sole proprietorships to more extensive operations with multiple employees.

What is professional liability insurance in Ontario? ›

Professional Liability Insurance, also known as errors and omissions insurance, protects professionals from client claims alleging financial loss due to a service you provided and lawsuits alleging negligence, misconduct, and failure to deliver services as promised.

Did you know that WSIB coverage isn't mandatory for every business in Ontario? The Workplace Safety and Insurance Act (WSIA) outlines which industries need to have coverage and which industries don't. Businesses that do need to have WSIB coverage pay premiums in exchange for workplace insurance.

Contractor insurance acts as a safety net, covering any damages that may occur during the project. This means that if your property sustains damage due to the contractor's work, their insurance will be responsible for covering the costs.

What Is All Risks? "All risks" refers to a type of insurance coverage that automatically covers any risk that the contract does not explicitly omit. For example, if an "all risk" homeowner's policy does not expressly exclude flood coverage, then the house will be covered in the event of flood damage.

The Contractor shall be liable to the Procuring Entity, its employees, and/or its guests in cases of accident and/or damage to property during project implementation. The Contractor shall be responsible for procuring its own Contractor's All Risk Insurance (CARI).

General liability insurance: Handymen in California must have general liability insurance with a cumulative limit of $1 million to obtain a license.

Ontario's Residential Tenancies Act (RTA) governs the relationship between landlords and tenants in Ontario. The RTA does not explicitly state that tenants are required to have tenant insurance. However, it is important to note that landlords are not responsible for any damage or loss to a tenant's personal property.

To register as a home improvement contractor in New Jersey, you must have a certificate of general liability insurance for a minimum amount of $500,000 per occurrence.

Introduction to Handyman Licensing in Michigan

Handymen who only take on small jobs under $600 in value can operate without a license. There are exemptions for certain types of minor work as well, including: Drywall installation and repairs. Fencing installation and repairs.