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liability insurance ???

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Posted by: from Courtice
1/21/2010 at 5:14:43 PM

hi there i just started my business and am self employed? how do i go about getting liability insurance ???wsib ??? i just landed myself a job witha company and they are sub-contracting jobs out to me and need me to get wsib, liability insurance how do i get it ??? email me too lptambur@rogers.com .... i am licensed and just got my GST # but no liability insurance or wsib ? is it necessary to get ???

REPLIES (4)
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Date/Time1/23/2010 at 4:28:46 PM

Depending on your trade you might be required or not to have your liability insurance. For example I'm an electrical contractor and I'm required to have at least 2,000,000 liability insurance. You can get one of those from your insurance agents. Or by calling insurance brokers in the Yellow Pages. In general it is a good idea but it won't always work. I knew a plumber who messed up on one commercial project and did $5 mil. damages and had liability for $3 mil so he had to find another $2 mils. somewhere

As for WSIB - as an operator you are not required to get it, it is optional. You can call them and ask about optional insurance.

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Date/Time2/5/2010 at 2:06:49 AM

Hi there, i recently started my business too i am a drywall/ taper i am not sure if its absouletly necessary to get it . I was trying too for a while now to get it, the thing is, they some what give you the run around. First they told me i had to get workers first but for me to do that i need to get the jobs, to get to jobs i need the insurance, its like the chicken or the egg kind of thing and really frustrating.

I will take your advice Max, and seek an optional method. Someone was telling me you can make a down payment and they do an assment of your work and its dangers.

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Bill from Bill Carr Renovations in Baltimore
Date/Time2/8/2010 at 7:49:38 AM

Hi guys- it's a really good idea to have liability ins. You may never need it, but it's always a good idea to have your ass covered just in case. I've carried it for 22 years now & have never posted a claim. I do mostly residential, so I carry a million, which costs just over $60 a month. Most of the big ins. companies will cover you- just make sure you clarify to them what exactly it is you do so there is no confusion should you need to make a claim.

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Mike from Barnworks in Port Hope
Date/Time6/3/2010 at 5:52:52 AM

You don't need wsib you just need wsib clearence.

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