It depends on the contractual agreements and conditions of the policy. Mostly, subcontractors will have limited coverage under an existing contractor policy, so we recommend clarifying with your broker what level of coverage is supplied for subcontractors. If coverage is limited, we recommend that subcontractors acquire their own coverage.
Depending on the policy, your contractor insurance coverage may include a component known as “completed operations” coverage. This valuable feature safeguards contractors against property damage or injuries that may occur after their work is completed.
Suppose, for instance, a contractor completes a roofing project, and a few months later, the roof leaks and causes property damage. In that case, the completed operations coverage steps in to provide financial compensation against any arising legal disputes. This is a great way to ensure that any property damage is covered, and your business’s reputation is safe.
Contractor insurance in Oshawa provides a comprehensive range of coverage options to address the unique risks faced by construction professionals. This typically includes general liability insurance, which safeguards against third-party bodily injury and property damage claims. Additionally, property damage insurance protects your tools, equipment, and materials. Workers’ compensation coverage is also available to ensure financial support for injured workers and meet legal requirements.
Always. McDougall prides itself on offering comprehensive, tailored coverage to protect construction projects and the hardworking contractors who do so much to complete them to a certain standard of quality. Contractor insurance policies are highly flexible and can be tailored to meet the specific needs of various construction projects in Oshawa. Whether you’re engaged in commercial building construction, residential renovations, or specialized trade work like roofing, electrical services, or plumbing, insurance providers can create personalized coverage packages that address the unique risks associated with your line of work.
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Been dealing with McDougall/Brister Group Winchester for at least the past 5 years and the service has been excellent. Our broker William Barclay is very helpful and helped us save money with the best possible insurance quotes and goes above and beyond with his customer service!