Cheap London contractor insurance is great but professional service from someone who drives and deal with clients where you live- That's the mutual difference. 

London contractor

Property Insurance 

How Long Will it Take to Get London Contractors Insurance?

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Before you’re able to get general liability insurance for contractor business, I will first need to qualify that you fit into our underwriting criteria. After you complete your request for a quote, I will call you to collect all of your experience in the field of contracting, business insurance history as a contractor, contractor installation floater details, contractor tools, contractor WSIB information for any employees you may have, liability limits and deductibles, contractor business interruption coverage needs, annual contractor gross receipts, commercial locations that you rent/own, locations that you occasionally rent for our tenant's legal liability coverage and the need for liability for non-owned auto coverage. If your commercial coverage needs falls into one of our extensive contractor insurance packages, I could have coverage bound for you in as quickly as 20 minutes. 

Why Do I Need London Contractors Insurance?

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There are a variety of practical reasons why a London contractor needs a commercial insurance policy. First of all, a commercial general policy covers the costs that can arise from property damage, liability lawsuits and defense costs in the event of an insured loss. Here are some additional reasons why Tradition Mutual Insurance often provides commercial insurance for contractors:

• London Contractor Insurance and a commercial lease - Many contractors rent or lease an office or showroom. In such cases, the landlord offering the lease typically will require that you have commercial general liability insurance (CGL.) This type of coverage protects your business against allegations of personal injury or property damage to a third party for which your business is found legally responsible. The business offering the lease wants to ensure you have coverage to ensure they are not drawn into a lawsuit.  

• London Contractor Insurance and Tradeshows - Business insurance is an important factor in networking and advertising your services or products. Many tradeshows, convention centres, farmer’s markets, job fairs and company gathering venues will request that a business provide proof of insurance for a certain minimum amount of coverage (typically a 2 million CGL policy limit or proof of tenant legal liability) before being permitted to have access to the event or location.

• Ontario Customers Requesting Proof of London Contractor Insurance- Ontario customers are becoming more and more savvy. Customers hear the horror stories through social media of a commercial business or contractor that offers a service or product that didn’t have commercial insurance and the consumer was left footing the cost for physical damage or bodily injury. A certificate of liability insurance can make your business much more credible to Ontario consumers and includes coverage/liability limits, insurance company name, policy number, effective/expiry dates. 

Who Needs London Contractor Insurance?

All London contractors should have business insurance. London contractor insurance is critical for the long-term financial success of a business. Something can always go wrong and a small mistake causing bodily injury or property damage to a 3rd party can cost thousands of dollars. Many general contractors will require that you provide proof of commercial general liability insurance prior to going on a jobsite. Many contractors would agree that commercial insurance is essential for anyone who owns a business because it covers the costs that can arise from property damage, liability lawsuits and defense costs in the event of a loss.  Without business insurance, a contractor would have to cover the damages and legal costs made against their company out of pocket.  

Can I Do without London Contractors Insurance?

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If you are not required by a London commercial landlord, municipality, city, consumer or another business to have a contractor insurance policy, there are a few other questions that a contractor should consider to make sure you are 100% confident that you don’t need retail business insurance coverage.

• Does my London contractor business have enough money or assets available to rebuild my business if it should experience a catastrophic water, wind, fire or smoke claim.

• Does my London contractor business have enough money or assets available to defend itself to settle a liability lawsuit?

• In the event of an insured loss, how many months can my London contractor business go without business income while still meeting my financial obligations.

What is the Cost of London Contractor Insurance?

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As a London contractor, you want to make sure you can find the cheapest and best London commercial insurance option. Prioritizing costs is normal in this uncertain economic climate. If you are simply wanting 2 million commercial general liability (CGL) and nothing more, your policy could be around $500 a year. If you are wanting a package option including some retail business interruption coverage or content and equipment coverage, your policy could be closer to $725 a year. The type of commercial policy will cause these costs to vary. Depending on your contractor business, a number of factors determine the cost of your business insurance such as:

• The industry that you work in as a contractor

• The years of experience in that particular part of the

       contractor industry

• Yearly revenue of your contractor business

• Claims and insurance history

• Coverage limits and retail business insurance deductibles

• Risk exposure. ie policy such as the kind of stock, building type, territory etc.

• If you're bundling your policy with commercial auto insurance for your

       contractor business

• If your quote factors in paying yearly or monthly  

To get a free, no-obligation quote to determine the cost of your London contractors insurance, give Kyle Wijnands at Tradition Mutual Insurance a call at 519-393-3246 today.

Do I Need London Contractors Insurance as an Independent Contractor?

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Many independent contractors such as framers, carpenters and drywallers mistakenly believe that they do not need insurance. However, as an independent contractor you still engages in a level of risk each and every time you do work in a client’s home. Something can always go wrong and a small mistake can cost thousands of dollars. Many general contractors will require that you provide proof of commercial general liability insurance prior to going on a jobsite.

What Does London Contractors Insurance Cover my Business For?

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• Property insurance: Coverage built into a contractors insurance policy for damage to your business property including stock, equipment, contents and buildings.

• Contractors General Liability Insurance: Coverage built into a contractors insurance policy for bodily injury or property damage to a 3rd party.  

• Business Interruption Insurance: Coverage built into a contractors insurance policy for lost income due to physical loss or damage to your business assets as a result of an insured peril.

• Crime Insurance: This includes inside or outside robbery coverage, money and securities protection. A contractors insurance policy can also chose to have employee disappearance, destruction and dishonesty coverage as well.

• Commercial additional agreements: Additional coverages built into a contractors insurance policy. Please contact Kyle Wijnands for a summary of these coverages.

• Equipment Breakdown Insurance, Flood Insurance, Earthquake Insurance and Sewer/Sump/Drain Backup Insurance is available for purchase under a contractors insurance policy.

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How Do I Know What Type of Contractors Insurance is Needed in London?

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No two London contractors businesses are the same. Whether you are a HVAC contractor, painter, handyman, general contractor, electrician,  mason or plumber, your contractor business is unique. When you call Kyle Wijnands, he will personally assess your business insurance needs to make sure you have a contractor insurance package that fits your unique needs. His thorough risk assessment of your business is free and there is no-obligation. Give him a call at 519-393-3246 today.

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What is London Contractor Equipment Insurance?

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As a London contractor, it is likely that you own tools such as power drills, saws and other equipment that are quite expensive. Contractor equipment insurance is designed to protect this equipment in the event that it is damaged or stolen. To discuss what’s covered and not covered under your contractor insurance policy, please reach out to Kyle Wijnands at 519-393-3246 to discuss.

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What is London Contractor Business Interruption Insurance?

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London contractor business interruption insurance covers you the contractor for loss of income from the business as a result of an insured loss. It ensures that perils such as fire, smoke, flooding, vandalism or theft don’t keep you from losing the potential of making an income.

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