Contractors Insurance

MIG Insurance is creating a world where insurance is bought, not sold. Our business insurance team is here to be your trusted advisors, offering the information you need to make the best decisions for your construction business. It’s a holistic approach to building a risk and insurance portfolio that will help you accomplish your business goals.

Buying insurance to keep your business running has never been easier! With our “Quote and Buy” tool, you can explore the insurance program that will be right for your business operations.

For independent tradesmen, by answering a few questions, you can buy the coverage you need right now for on the job and on the go.  Simple, easy-to-buy coverage for the tools of your trade with policies delivered right to your phone or desktop in seconds.

For larger construction companies, this online resource will get the conversation started, and our team of insurance professionals will get started on building the right coverage for your business operations. Through a comprehensive review of your business operations, our team can help define your insurance protection program and maximize the effectiveness of your insurance spend by connecting you to the products that will matter most.

Contractors insurance includes all the following features that can be customized to your business.

Commercial General Liability (CGL)

Commercial General Liability (CGL) provides coverage for liability claims arising from bodily injury and property damage to others as a result of your operations. Losses and subsequent claims could be caused by you, your employees, your products, completed operations or by something occurring on your premises.

Contractors Equipment Insurance

Contractors Equipment Insurance (CEF) covers equipment at construction projects and job sites. This coverage is sometimes called a “floater” because the coverage follows the equipment from one job site to the next, as well as while in transit. Examples of equipment covered include mobile equipment, bulldozers, road-graders, forklifts, loaders, backhoes and skid steers.

Tools Insurance

Tools insurance covers your hand tools and portable tools when at a jobsite, in transit or while locked in a vehicle or storage. Each item is covered up to $1,500. Examples of tools covered include:

  • Saws
  • Screw drivers
  • Socket sets
  • Drills
  • Nail guns
  • Belt sanders
  • Hammers,
  • Compressors

Property & Contents Insurance

Property Insurance ensures the hub of your business, the home base for your crews, is well protected. Contents Insurance provides coverage for your equipment and stock at your shop and office premises. This includes items used to run your business. Examples of contents covered include:

  • Computers
  • Fax machine
  • Printers
  • Merchandise/stock (example: flooring or tiles)
  • Office furnishings

Liability Coverage Extensions

Your Commercial General Liability policy covers you for bodily injury and property damage to others as a result of your operations. This does not provide any coverage for errors made and the associated costs of making things right for your customer. Two important endorsements can be added to your insurance policy to provide a more complete package of protection specifically for contractors:

Contractors Errors and Omissions Liability Extension

Errors and omissions coverage will cover you for any claims resulting from errors made in your work. Basically, any error, omission or negligent act that results in failure of your work to meet specifications after installation and acceptance by your customer will be covered under this endorsement. An example of this would be:

“An HVAC contractor makes an error interpreting plans and installs equipment not to specifications, creating a problem in being able to complete finishing of ceiling components. The HVAC work needs to be redone to comply with plans.”

Rip and Tear Coverage

Another endorsement that will dovetail with Contractors E&O is Rip and Tear Endorsement (also known as Removal and Replacement). This provides coverage for the expense involved in removal and replacement of goods or products supplied by you or the cost of remedial action where removal and replacement can be avoided. In clear language, this protects against error in design, manufacture and blending or mixing of compounds. An example of this would be:

“An error is made in the composition of materials for a poured concrete floor. Within six months, the flooring cracks and crumbles and needs to be replaced.”

You can see how these important coverages work together to ensure there are no gaps or exposures that can cause financial disruption to your business.

Wrap Up Liability

Wrap Up Liability is a single insurance policy that names all participants on a project, consolidating additional liability coverage for all involved, including subcontractors. Coverage is extended usually for a period of ten years past the date of completion and will provide coverage for claims arising from construction defects.

Installation Floater Insurance

As a contractor or subcontractor, you need to be protected if your work is damaged on your job site or project. Installation Floater Insurance is protection for materials and work in progress. Installation Floaters are designed to protect the value of labour and materials of a contractor's work in progress. 

Additional Resources to Keep Your Business Running Smoothly

As an added benefit of being an MIG customer, you will have access to a wide range of resources to help run your business. Get plugged into tools that can assist your business with loss control, legislative compliance, health and safety, employee education and more.

Worldwide coverage up to a maximum of $5 million

*Trip lengths up to 182 days (different options available)

*No age restrictions unless it is a family plan then up to age 59
Worldwide coverage up to a maximum of $10 million

*Trip lengths up to 125 days (different options available)

*Available to persons up to and including age 59
Different sums available for purchase

*No age restriction for single person. Family plan up to age 59. Two people plan up to 64
Different sums available for purchase.

Includes:
• Emergency medical coverage
• Trip cancellation or interruption
• Accidental death and dismemberment
• Baggage
Must be purchased with a travel health plan.

*Maximum limit for air flight/common carrier accident is $100,000

*Maximum limit for 24-hour accident is $25,000
Includes the following:

• Emergency medical insurance
• Trip cancellation & trip interruption
• Accidental death & dismemberment
• Baggage insurance

*Only available I 59 years or under

*Pre-existing condition clause does apply
Includes the following:

• Emergency medical insurance
• Trip cancellation & trip interruption
• Accidental death & dismemberment
• Baggage insurance

*Only eligible for customers no more than 89 years old
Baggage Insurance

Rental Car Insurance (physical damage only)

Contact, adventure or extreme sports coverage

*Must be purchased with another plan
Baggage Insurance

Canadian Expatriates Plan

Inpatriates to Canada
Must be purchased with a travel health plan.

*Trip interruption can be purchased separately
Basic or Select plans available

*Only eligible for customers no more than 89 years old

*Trip interruption can be purchased separately
Must be a student and less than 40 years of age

*$2million in coverage
*Family plan available ifunder 40
None available
Must be a student and less than 69 years of age

*$2 million in coverage
*Family plan available if under 59
Must be a student and less than 60 years of age

*$2 million in coverage
*Coverage available for spouse & dependents
Worldwide coverage up at maximum of $5 million.

Policy options:
• Within Canada
•Worldwide
• Worldwide (excluding the USA)

*Pre-existing condition clause does apply

*Persons over the age of 55 must complete a medical questionnaire.

*Different deductible options are available
Worldwide coverage up at maximum of $10 million.

Policy options:
• Worldwide including USA
• Worldwide (excluding the USA)

*Only eligible for customers no more than 89 years old

*Persons over the age of 60 must complete a medical questionnaire

*Pre-existing condition clause does apply

*Different deductible options are available
Worldwide coverage up to a maximum of $5 million

*Trip length up to 32 days or less. Additional days available for purchase if under the age of 55

*Available to persons up to and including age 74
None available
None available
Airfare cancellation or Holiday cancellation packages available

*Must be purchased within 72 hours of initial deposit.
Includes the following:

• Trip cancellation before or after trip
• Missed connections
• Emergency travel health coverage
• Air flight or common carrier accident
• 24 hour accident
• Baggage and baggage delay
• Transportation of deceased

*Must be purchased within 72 hours of initial deposit.

* Trip cannot exceed 32 days in length

*Pre-existing condition clause does apply
Titled ‘Travel Accident Plan’ and must be purchased along with another plan.

*Different sums available for purchase.
Sums insured: $25,000, $100,000 or $250,000

Flight accident also available for purchase
None available
None available
Worldwide coverage up at maximum of $5 million.

*Persons over the age of 55 must complete a medical questionnaire

*Pre-existing condition clause does apply

Visitors to Canada Holiday Package
Student Medical Insurance (Inbound) – Students coming to Canada
Visitors to Canada – Emergency Medical Insurance (Single Trip)
Emergency Medical Insurance – Multi Trip Annual
TuGo
Manitoba Blue Cross
Emergency Medical Insurance – Single Trip
Trip Cancellation / Trip Interruption Insurance
All Inclusive Holiday Packages
Additional Coverages
** Exclusions apply, please refer to a broker formore information **
Accidental Death & Dismemberment Insurance
Student Medical Insurance (outbound) – Canadian Students studying abroad
Allianz Global Assistance
Different sums available for purchase

*Only eligible for customers no more than 89 years old
The mortgage lender
Pay off mortgage
With your mortgage payment
The mortgage lender
Often underwritten at time of death
Not neccessarily guaranteed
None
Usually not available
Often same rates given, regardless of other factors
Benefit decreases as mortgage paid off
If you move, the insurance ends You will have to requalify
Can only cover the mortgage
Decreasing Term
Bank
Anyone - you decide
Beneficiary decides
Invest? Pay off mortgage?
Monthly, semi-annually,annually
Get level benefit Or lower benefit overtime to match yourmortgage
Underwriting at time of application
Fully guaranteed
Premium based on gender, smoking, health, lifestyle
Preferred underwriting available
Individual policies can be customized
Deal with licensed advisors
Insurance stays with you - even if you refinance or change lenders
Take care of all insurance needs with one policy
Term or Permanent
Insurance
Broker
Payment Frequency
Other Life Insurance needs
How Insurance will be used
Beneficiary
Your best options are available through an insurance brokerage.

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A needs analysis will take a look at the whole picture and help us determine a plan to suit your needs. A customized insurance plan will put the control where it should be...in your hands.
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