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SPECIALISTS
Building contractor: do you have the best protection?
Build the future with confidence
Assur360 has developed a number of partnerships with specialized insurance companies. As an insurance brokerage firm, we offer solutions to the different types of risks and claims likely to arise in the course of a contractor's business. From small jobsites to major projects, general or specialized contractors working in the residential, commercial, industrial or institutional sectors can benefit from comprehensive, tailor-made coverage. For more information, simply call us toll-free at 1-866-350-9763 or at construction insurance quote request. Alternatively, if the customer wishes, a broker can call back.
All the reasons to choose Assur360
Assur360's brokers study each client's file and determine his or her exact needs before proposing the appropriate coverage that meets his or her expectations.
What's more, the company keeps in constant touch with its policyholders, communicating with them as their situation and needs evolve, to ensure that they have sufficient cover and that their business is well protected.
Assur360's only boss is its customer, which is why, when necessary, the company supports its policyholders' claims and acts as negotiator and intermediary with insurance companies.
What are the basic protections for contractors?
Several guarantees are offered to contractors starting with third-party liability insurance, which covers damage unintentionally caused to others in the course of the structure's activities.
This protection covers damage to property, as well as the associated loss of income. For example, if a contractor is working on an income-producing building and is involved in a fire caused by the work he is undertaking, he will be sued for damage to the building and loss of rent. In this case, the contractor must assess the maximum amount of the loss and damage to the neighborhood.
Civil liability insurance also covers bodily injury and loss of use. It is essential to guarantee the safety and security of the premises where work is being carried out, in order to avoid accidents and injuries to off-site personnel caused by the activities in progress.
Another basic protection is required, namely worksite and floating installation insurance. This covers direct damage to equipment and materials to be installed on a project. This includes equipment on site or at the project location, equipment in transit, and equipment placed at other temporary, non-designated locations.
Complementary protection for construction
Customization of the insurance policy is of the utmost importance, since it must be adapted to the needs of the contractor and provide optimal coverage. Hence the need to take out additional guarantees that can enhance the protection of the contractor and his business.
Additional coverage includes crane handling, extended warranty for removal of defective concrete, floating protection for tools, contractor's equipment and rental equipment. There's also faulty workmanship protection, covering the resumption of work after the appearance of a defect during the course of the work, as well as defense costs. There's also "wrap-up" liability for contractors, covering the liability of contractors and their subcontractors working on the project or site.
Other guarantees are also available, such as the "DIC - DID" guarantee, which offers additional protection and insurance shortfalls. Cyber risks cover computer intrusions and online submissions. There's also pollution insurance, which protects against damage generated by pollution associated with an unforeseen or accidental event. It even includes protection against fines and penalties.
Assur360's recommendations for construction contractor insurance
As an insurance broker with extensive expertise and long experience in the field, Assur360 advises its contractor clients to carefully complete the proposal to be submitted with tender. This approach gives you a global view of your own habits and practices, so that you can become more efficient and effective in the future. When applying for insurance, it's a good idea to have the client's quotes at hand.
In the event of a claim, the insured can obtain the maximum possible compensation, if he or she submits a complete inventory of his or her tools and contractor's equipment, supported by invoices, every year. On the other hand, and as a preventive measure, it would be wiser to ask for a certificate of insurance from any other contractor working on your project. the building site.
Finally, it's important to remember that Assur360, as a firm specializing in property and casualty insurance and financial services in Quebec, is committed to helping policyholders through every step of the process. In fact, it deals with a large proportion of the insurance companies operating in canada. It employs around one hundred professionals who deliver quality service with efficiency and commitment to meet the needs and expectations of every policyholder.
