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Insurance problem need help.(ontario)

Discussion in 'Business Fundamentals' started by dragonstrong, Nov 27, 2008.

  1. dragonstrong

    dragonstrong Junior Member
    from toronto
    Messages: 3

    Hi folks,
    How are you guys? I am a new guy at the snow removal area.
    I have a 1993 f350 truck.
    I meet some problems,
    The truck is under my brother's name, when I changed the name, Do I need to disclose anything to the goverment? I meet a problem,
    Which insurance company are you guys using?
    And what do I need to disclouse to the broker???
    Thanks a lot!!!
  2. heather lawn spray

    heather lawn spray PlowSite.com Addict
    Messages: 1,206

    I have a Fellowship in the Insurance Institute of Canada (October 8th 1986), and have been plowing for 19 years.
    "The truck is under my brother's name, when I changed the name,. What, you changed your brothers name?
    1. So whose truck is it now, your's or your brother's?
    2. Currently we are with ING as our insurance carrier (not broker)

    Disclosure Requirements
    3. Who is driving and driver's licences and driving records? for OAP
    4. What area working? for OAP/CGL
    5. What value of truck & snow plow ? for OAP
    6. What dollar volume of plowing will you be doing? for CGL

    Auto will be covered by Ontario Auto Policy, (OAP 1), to cover injuries or damage caused by your vehicle. You will also be required to carry a CGL (comprehensive general liability) policy for any injuries caused by your work. eg people falling and injurying themselves on that property because you had done a 'bad' or 'incompetent' job of snow and ice clearing. Get yourself to a good commercial lines broker who knows about 'snow insurance' This will be out of the realm of the personal line brokers, who only do cars, personal property, and homes.

    If you fail to let the insurer (and the broker) know what you are up to they can deny a claim if there is a 'material change in the risk' that you fail to disclose to them. Plowing is a 'material change in risk'. Sit down with a commercial lines broker and tell them what you are up to and follow their advice
    Last edited: Nov 27, 2008
  3. Bajak

    Bajak Senior Member
    Messages: 999

    If you are working for yourself and not your brother you need to get yourself a G.S.T. #. and apply for a business identification number with the government of Ontario. Your insurance company will want a BIN. Register as a sole proprietor, because it is cheaper. If you are in partnership with your brother you will have to apply for a Limited company. Then contact a broker and tell them how much Business insurance you require. That's all I did.
  4. Bajak

    Bajak Senior Member
    Messages: 999

    Yeah just what Heather Lawn Spray said. I'm into excavating anyway.