Contractors Insurance

Contractors insurance refers to multiple policies designed to cover the risks that general contractors face on the job. Oegema Nicholson and Associates can connect you with insurance products that combine key coverages, such as general liability and commercial property insurance.

What type of insurance should contractors have?

It’s important to note that insurance providers do not offer a standalone policy called contractors insurance. Instead, they will bundle several useful coverages into a business owners policy — customizing it to suit a contractor’s needs. Here are three types of coverage every contractor should have:
  • General liability insurance
  • Commercial property insurance
  • Installation floater
Let’s face it: Job sites are dangerous. Although a contractor will make every effort to be safe, accidents do happen. That’s why Oegema Nicholson can ensure your business and its employees are well taken care of should the unfortunate occur. Let’s examine the above coverages in more detail to better understand why they’re so crucial.

What is general liability insurance?

This type of coverage protects business owners should they be held responsible for bodily injuries or property damage to a third party. If you’re a contractor, liability insurance may cover you if the work you’ve finished results in damages. For example, let’s say you installed a sink as part of a massive kitchen renovation. But years later, the sink’s plumbing begins to leak — resulting in water damage throughout the house. In this case, the homeowner could hold you responsible even though you didn’t intentionally cause harm. General liability insurance will cover your legal defence costs should the other party decide to sue. It will also cover medical bills and any other expenses as outlined in your policy. Remember that all coverages have their limits, along with a deductible that must be paid before claims can be processed.

What is commercial property insurance?

All job sites are susceptible to fire, theft or vandalism. Keeping detailed records of your equipment, closing off the property to trespassers and installing the latest fire monitoring systems are all helpful. But despite your best efforts, it’s still impossible to prevent unfortunate situations. That’s why commercial property insurance is crucial in protecting your most valuable assets. Physical valuables, like business facilities and their contents, can be covered by a high-quality insurance policy. This is particularly useful for contractors who tend to own expensive tools and machinery, which are popular targets for theft. Not only will commercial property insurance cover the cost of stolen tools — but may even reimburse you for expenses related to renting tools in the meantime.

What is an installation floater?

An installation floater will cover materials you were planning to install against loss or damage. For example, let’s say you were about to install a brand new air conditioning system at a job site. You’ve purchased all the necessary materials and everything is ready to go. But the night before installation, someone breaks into job site and steals all the materials. If you’ve invested in an installation floater policy, you may be covered. Ultimately, this floater can help limit the impact on your bottom line — should an accident occur.

How much does contractors insurance cost?

Your insurance premiums will largely depend on the amount of coverage you wish to purchase, the area in which you do business, and the type of contracting work you conduct. Sometimes, contractors who specialize in commercial projects will pay more than those who work in the residential sector. A trusted insurance brokerage like Oegema Nicholson can help you find the best insurance rates in the industry. Our insurance professionals can leverage their networks to find you the best coverage — at a price you can afford.

Why trust Oegema Nicholson?

In business since 1961, Oegema Nicholson has decades of experience helping contractors protect their most valuable assets. Because we are family-owned and operated, we believe our clients should also be treated like one of us. Proudly serving the areas of eastern Ontario and western Quebec, Oegema Nicholson has six convenient locations to address all your insurance needs. Whether you require basic coverage for a fleet of transport vans or professional liability protection for your renovation firm, rely on Oegema Nicholson to cover all your bases. For more information on contractors insurance, call us at 613-224-1455 or contact us here.

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"Just wanted to leave a message for your website that praises Nik Dore for being a constant example of always providing invaluable customer service. I never worry that my questions and concerns will be dismissed or that I am receiving less than constructive advice. Many thanks to him."
"I know all my insurance needs are covered with Oegema, Nicholson & Associates. I have been a loyal client for the last 15 years, and I can count of them for my commercial insurance, employee benefits, as well as my personal insurance and finances. Jeff Richer always goes above and beyond to help me with my insurance needs."
O-Omkar Atwal, Owner, Leitrim Home Hardware
"It’s always a pleasure to deal with Oegema, Nicholson & Associates, and I can depend on them for all my insurance needs. I have been a client for several years and whether it’s regarding my personal insurance, or anything to do with our employee benefits or commercial needs, I know I’m taken care of."
R-Rhonda, Capital Dodge
"I would like to thank Carol for everything she has done for me and my family over the years. It is my honest belief that we would not be in the position we are in if it was not for her guidance, expertise and honesty. We can't begin to thank her enough."
"ONA helps me with my personal insurance and my business insurance . They are my one stop shop when it comes to insurance and group benefits. I know I’m covered in all areas. Great friendly service and knowledgeable staff!"
J-James Carriveau, President, Exact Interlock and Exact Properties
"One call to Oegema, Nicholson Associates is all it took. After our basement flooded, within a day or two they had a crew cleaning everything up, taking down the drywall and itemizing everything to be cleaned, thrown out or restored. They had everything in place for us in a timely manner and were extremely patient with me as they talked me through the process and waited for me to make decisions."
J-Jennifer Parks, Stittsville, Ontario
"I’ve been dealing with ONA for over 20 years with my personal insurance, as well as our commercial insurance, and I know I can rely on them for great customer service, and prompt responses. I feel confident not only referring them to my employees, but to our customers as well."
C-Charlene Brunet, President, Dan Murphy Ford
Saul Mendoza (Salty)
Saul Mendoza (Salty)
My broker Bill C. from ONA has helped me over the years now with my vehicle insurance. He is very cautious and detail oriented when processing documentation, and ensures I understand everything whenever there are any changes. He recently helped me cut my premium almost in half just by improving my record and shopping around at the appropriate time. I am grateful to him and the team for being there for me when I need them.
RMP Tutoring
RMP Tutoring
I was assisted recently by Greg, who did a wonderful job in not only answering all of my questions and helping me to review pre-existing insurance plans, as well as advising me to look into my credit card/group insurance before needlessly purchasing more. This to me speaks highly of the character of the employee and business of a whole, and it is certainly the one I will be going to for any future needs.
They get back to you fast an excellent insurance agent
lise sevigny
lise sevigny
Have been with Oegema for over 30 yrs. Always great service!
Jamie C
Jamie C
Friendly, knowledgeable and professional. They take care of all my insurance needs. Commercial, Home and Auto.
Bob Bent
Bob Bent
Great service on both commercial and personal lines.
Jennifer Bardwell
Jennifer Bardwell
I purchased commercial insurance with this company. Very professional service throughout, and a good price on the policy. Would highly recommend!
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Oegema, Nicholson Financial Inc.
1451 Woodroffe Avenue
Ottawa, Ontario K2G 1W1
5526 Manotick Main Street P.O. Box 149
Ottawa, Ontario K2G 1W1
154 Bridge Street P.O. Box 749
Almonte, Ontario K0A 1A0
243 Castor Street
Russell, Ontario K4R 1B8
3-3809 St. Joseph Blvd.
Orleans, Ontario K4A 0Z8
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