Liability Insurance Quotes for Remediation Contractor in Ontario

Exploring The Importance Of Remediation Contractor Liability Insurance

Whether you just recently become a remediation contractor or you have been in the business for longterm, you probably already know that business has never been better in the Ontario province. With that being said, you have probably worked extremely hard and diligently to get to where you are at this point in your life. Even though things might be going extremely well for you right now, your employees are growing, and you are making you customers happy, you need to be aware of the fact that you are faced with tons of liability risks on a daily basis.

Risky Without Liability Insurance

Without the proper insurance coverage, you are not only putting yourself and your employees at risk, but you are putting your business as risk operating in any city like Toronto or Hamilton. For instance, what if during the process of removing a moldy piece of drywall, you pull out a nail or screw that was attached to a waterline, which ends up resulting in a flooded home or basement? Are you backed with the proper coverage and prepared with the resources to cover these expenses out of pocket? Probably not, but with remediation contractors insurance you will not have to worry about footing the bill for this expensive repair or ever paying for equipment and tools in the event they get damaged or lost. Keep in mind, tools & equipment coverage needs to be added additional to a standard policy.

Contractor Remediation Insurance Can Cover Subcontractors

As a remediation contractor, you probably find yourself in a variety of different situations that require the expertise of other contractors. For instance, during a remediation project it is possible that you might have to bring in a heating and cooling contractor to clean a HVAC unit. Of course, there is nothing wrong with this, as it is a common practice amongst remediation contractors. However, what if this heating and cooling contractor makes a mistake that results in a major financial loss or health risk to the customer?

Of course, the customer is going to come after the heating and cooling contractor for reimbursement. However, if he or she is not insured with contractors insurance, you are going to be held responsible. Unless the subcontractor is covered under your contractors insurance policy, you will be liable.

So, not only will remediation contractor insurance protect you, but also it will cover you in the event that you hire a subcontractor that is not insured. If you find yourself constantly working with a variety of different contractors, this type of policy can come in extremely handy.

Remediation Contractors Insurance Provides Immediate Medical Expenses

Unfortunately, as a remediation contractor your only risk is not hiring a subcontractor that is not insured. In fact, you are posed with tons of other liabilities that could cause you major out of pocket expenses. For instance, what if during the process of removing a desk or old piece of furniture, you accidently bump into a customer and knock them down, or drop a tool on them from a great distance? All of these situations could results in major medical expenses.

The great thing about this type of policy is that it offers the contractor immediate medical compensation in the event that they are found at fault. When a customer is injured the last thing they want to do is drag the claim through the courts and fight for months to get their medical expenses covered. This is something you do not have to worry about with contractors insurance, which can potentially help you avoid an expensive lawsuit that could be tied up in the courts for months.

Protecting Remediation Contractors Against Unfounded Lawsuits

As a remediation expert you have probably come across tons of customers that are just unbearably hard to please. In fact, it just seems like no matter what you do, how much extra work you put in, or how good the job looks, they are just not happy. Maybe the customer claims you did something wrong, or claims you used different materials than what you originally quoted them. Whatever the circumstances, all of these situations can lead to expensive lawsuits.

Most of the time in a situation like this a lawyer has to investigate the case, depose witnesses, and search through tons of records, which results in a lot of expensive billable hours. Without the proper coverage all of these expenses would have to come right out of your pocket, but with our coverage we handle these expensive fees for you.

Frequently asked questions before buying insurance for remediation contractors:
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• What is contractors equipment insurance?
• Why do us contractors need insurance?
• I am an independent contractor, do I still need insurance?
• Are subcontractors I hire covered under my contractor’s CGL insurance policy?
• I drive a truck, van, or other vehicle for work – How is that insured?
• What does my contractor’s liability insurance policy cover?
• What is the process to get a contractor insurance policy for my business?
• What options do I have for health insurance as an independent contractor?
• How much does contractors commercial general liability insurance cost?
• How do I become an approved contractor with an insurance company for work?