General liability insurance for doors, windows, siding, and awnings contractors is without a doubt essential. When you are installing or repairing doors, windows, siding, or awnings in Canada, you and your employees are exposed to a number of risks. You always run the risk of damaging the customer’s property or harming the customer. This is exactly where doors, windows, siding, and awnings insurance comes in handy. Why is this insurance a necessity for contractors in Canada?

General Liability Insurance Protects Against Lawsuits

General liability insurance protects you and your employees in the event that you damage a customer’s home or cause them bodily harm. Well, the policy goes even further than that. There are some situations when paying for repair damages or medical expenses aren’t enough for the customer. Maybe they feel you owe them more and decide to file a lawsuit against you and your company. In Canada they have the legal right to do this and many of them will. Unfortunately, a long drawn out court case could be enough to cause most small contractors to close up shop. This would be especially true, if the jury or judge declares the contractor is liable.

Even if you win, you are still looking at thousands of dollars in lawyer fees and court costs. General Liability insurance for doors, windows, siding, and awnings will actually cover the court costs and lawyer fees. With the right amount of coverage, it will even cover the settlement if you lose the case.

 

What Can You Expect To Pay For General Liability Insurance

At the end of the day, it can be hard to put an overall number on the cost of doors, windows, siding, and awnings general liability insurance. And, this is due to the fact that there are so many factors that can determine the overall cost. In Canada, most providers will determine the cost by weighing several different factors. These factors can include anything from your claim history to the territory you typically operate in. The amount of money that you make and the number of jobs you take on can also factor into the overall cost. Most average companies can expect to pay anywhere from $500 to $1,300 for this coverage.

 

What Is The Appropriate Amount Of Coverage an Installation Company?

The amount of coverage needed can also vary from company to company. Some companies are at a much higher risk than others. Companies with large numbers of employees will probably want to invest in a higher coverage amount, while smaller companies might be able to get away with less coverage. That being said, you always want to make sure that you are adequately covered or you could be looking at a volatile situation. Most average sized companies will be fine with a $2,000,000 policy.

 

We Can Help

Let our Canadian insurance company provide your company with doors, windows, siding, and awnings insurance. We specialize in this type of policy and have the knowledge to help you build an insurance plan that will protect you, your company and your employees in every situation imaginable.

 

We can also provide a construction bond for installation companies in the event a bid or tender requires a financial guarantee in place

• Construction Bid Bonds – Financial Security for Contract Bidding.
• Maintenance Bonds – Provides protection for a lengthier period of time.
• Performance Bonds – Guarantee of work being completed.
• Payment Bonds – Provides protection for payment workers.
• Subdivision Bonds – A bond used for subdivison development.
• Site Improvement Bonds – Making improvements to an existing project.
• Labour And Material Bonds – Helps cover Labour and Materials Cost.
• Surety’s Consent or Agreement to Bond – Agreement with the Bond Issuer.
• Bad Credit – Bonding for Businesses with poor credit.
• Fiduciary Bonds – Similar to Insurance (Protects your business)

 

Frequently asked questions

• What Is Covered Under A Contractors Insurance Policy?
• Types Of Contractors That Need Contractors Insurance And The Reasons Why?
• How Much Does Contractors Insurance Cost?
• A Comprehensive Guide For Learning How To Apply For Contractors Insurance?

 

Other Types of Contractors We Commonly Insure