Take a moment to compareContractor & Construction Insurance Quotes from Our Trusted Insurance Partners

The variety in the contracting industry is endless. If you’re a general contractor, skilled trade worker or work in the construction sector, you understand there are many risks that come with the job. The unique part of protecting you from these risks is that there is a “no size fits all” approach to achieving the adequate protection your company needs. At Oracle RMS, we believe in customized and tailored coverage plans that make sense for your business. This way, you’re not just settling for a generalized policy that isn’t cost effective. You can be assured your policy protects your business, employees, tools and materials around the clock.

Different Types of Coverages to Consider:

Commercial Property Insurance: Covers the building, stock/premise equipment if they should suffer a loss
Commercial Automobile Liability Insurance: Covers vehicles that serve a commercial purpose
Contractors Liability Insurance: Covers damages to clients, settlements when sued, and lawsuit costs
Equipment/Tool Insurance: Covers losses of tools and larger complex equipment used to perform the job
Business Interruption: Covers the financial losses from business downtime as a result of equipment breakdown. It also covers business interruption due to a claim or lawsuit.

Installation Floater Insurance

At any time on the job site, during transit or while being installed, the materials being used are at risk. Should an accident occur, the contractor will be responsible for the charges. Although they do not own the materials, they are responsible for them. Contractors insurance takes into account the many forms of risks, and installation floater insurance is a form of coverage.

Specialty Coverages

Contractors Pollution Liability Insurance

Contractors Pollution Liability Insurance will protect costs of claims related to unforeseen accidental pollution conditions that cause damage to property, bodily injury or necessary clean up. This insurance can be provided for a specific project or on a blanket basis that covers a specific period of time. The Canadian government has enforced legislation that aims to protect the environment. By breaking these laws, companies can face fines of $100,000+. Construction insurance in Ontario can prevent these costs.

Contractors E&O

Contractors Errors and Omissions Insurance is a specific professional liability insurance that will protect contractor companies if you are accused of negligence causing financial loss.  If a third party suffers financial loss (not resulting in damage to property or bodily injury) due to negligence, faulty products or a mistake (to name a few); Contractors E&O insurance will cover potential settlement costs if they are successful in a lawsuit. E&O insurance is designed to compensate for what general product liability insurance won’t cover.

Builders Risk Insurance & Wrap-Up Insurance

Builders Risk Insurance insures projects as they are being constructed. These projects can include building a new home, completing home renovations or performing repairs. This insurance can be obtained by the contractor or the property owners themselves. Projects in the midst of being built are at risk of being affected by natural elements, and more prone to theft and vandalism.  At Oracle RMS, we recommend obtaining a quote for Builders Risk Insurance before your project commences, as  companies may not offer coverage while construction is underway.

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Protect yourself while out on the job; Oracle RMS will create a customized coverage plan that acknowledges what makes your business unique and is tailored to your needs.

Should you have any further questions regarding your insurance quote for Toronto or surrounding areas, please feel free to contact us and one of our representatives will gladly assist you.