Why contractors trust us

As a contractor, you have plenty of responsibilities to juggle every day and unique risks you need to safeguard your business against. Our contractors’ insurance solutions are designed to protect your business against those every day risks. We have customized policy options for home builders, electricians, trade contractors, mechanical contractors, and more.

We’re industry experts

Our expertise among home builders, electrical contractors, mechanical contractors and other skilled trades in the contracting industry is defined by our relationships with the leading industry associations including the Canadian Home Builders’ Association (CHBA), Canadian Electrical Contractors Association (CECA), Canadian Fence Industry Association (CFIA), Electrical Association of Manitoba (EAM), Mechanical Contractors Association of Ontario (MCAO) and more.

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Insurance designed for contractors

For over 100 years, we’ve been creating customized insurance solutions for contractors. So, we understand the daily risks you’re exposed to and are ready to help in any way we can!

Whether you’re a home builder, trade contractor, electrician or mechanical contractor, our insurance specialists have the knowledge, tools and experience to design customized solutions to protect your contracting business.

At Federated Insurance, we provide:

  • Customized insurance solutions designed for contractors
  • Dedicated advisors who work with you directly
  • Expanded coverage options
  • Flexible payment and deductible options
  • Quick, no-hassle renewals

Common claims for contractors

Contractors are responsible for a lot, and one of those responsibilities is being aware of the risks and possible losses they could face. While it’s important to be careful all year round, Federated Insurance’s internal claims data found that half of the claims received were during the busy months of May to August. The top cause for a loss was fire. Others included vehicle accidents, heavy rainfall, and faulty work.*

Property losses

Property losses can be caused by a number of things, ranging from fires to storms. Your property includes any building, equipment, machinery or computer you own to help you run your business. As a contractor, you rely on different tools and equipment to complete a job. If these were to be damaged, it could be costly to your bottom line and reputation.

Auto losses

Contractors also need to be aware that losses can occur because of damage to their vehicles. If you depend on the use of a vehicle to get between job sites and you get in a collision, you may be liable for damages that involve your employed drivers or other passengers.

Liability losses

If a visitor were to slip and fall on your jobsite, your business could be found responsible for their injuries, which could result in a costly liability claim.

Risk management tips for contractors

Tip #1:
Tens of millions of dollars’ worth of equipment and tools are stolen each year in Canada. Having a current inventory and detailed records of all equipment and tools used on project sites is an instrumental element to recovery and management.
Tip #2:
All excavation, trenching or underground construction activities have the potential to damage utilities. The contractor, working with the owners of the underground installations, must identify the utilities, locate them and determine the potential hazards and method of controlling them.
Tip #3:
Protective gloves come in many different types designed to deal with various hazards. Chemical protective gloves provide protection against exposure to a variety of chemicals. There are also gloves designed to protect against abrasion, cuts and punctures as well as extreme heat and cold.

Contractors’ insurance coverages

In addition to providing you with coverage for liability, property, automobile and employee benefits coverage, our toolbox is filled with customized options to ensure your contracting business is properly protected:

Jobs:

Includes installation, labour and errors and omissions coverage.

Business Interruption:

You can take advantage of our business interruption insurance to help protect your business from a loss of income.

Tools & Equipment:

We offer contractors equipment coverage as well as rental reimbursement, which covers the cost of renting regular and computerized equipment if yours is damaged.

Crime:

We offer insurance coverage to help protect you from employee dishonesty, credit card forgery and other types of theft by employees and others.

Cyber:

We’ll help to keep your business cyber safe with costs coverage for data recovery, customer breach communications and e-commerce threats.

Company Vehicles:

We’ll make sure you have the right coverage for all of your company vehicles, whether you have just one or a whole fleet.

Personal:

Personal insurance solutions are available for your home and vehicles. So whether you own a home, cottage, car, boat or RV, we can help you build a complete insurance package that protects your business, your employees and your family.

Pollution:

The release of a pollutant can cause serious damage to the environment as well as your project, your reputation, and your customers bottom line. Pollution liability insurance is designed to help protect you from environmental damages and from costly expenses.

Managing Risk

Our Risk Service Specialists can work closely with you to provide the advice, support and training you may need in order to analyze the potential risks to your operation. Knowing the exposures your contracting business could face can go a long way in helping you avoid future losses.

Our Risk Services Specialists are available to help you create a customized action plan that will address those issues and help you improve your bottom line. Whether it’s sharing our risk management observations on your current business or providing you with timely tools and resources, we’re here to help you be as successful as possible.

Value-added services for your contracting business

Once you become a customer, you’ll have access to an array of value-added services for your contracting business that include:

Superior claims handling: When it comes to handling claims in the contracting industry, our expert claims professionals are there for you. With 24/7 claims support, we can resolve your claim and get your business back up and running as quickly as possible.

Dedicated advisors: With industry training and experience, our Commercial Insurance Specialists can design tailored insurance programs to fit the unique needs of your contracting business, while also providing expert advice and support along the way.

Loss prevention expertise: Our team of highly-trained loss prevention consultants can answer your questions and provide you and your employees with valuable contractors risk management advice.

Safety programs: Complimentary safety programs that can help keep your business and employees safe.

Trauma assistance: Confidential one-on-one counselling services to help you through an insured traumatic loss.

Latest blog posts for contractors

Check out our latest blog posts for some tips on business, customer, employee and operational safety for home builders, electrical contractors, mechanical contractors and other skilled trades: