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Ontario Insurance

Discussion in 'Business Fundamentals' started by CAT420DITPLOWER, Oct 18, 2013.


    CAT420DITPLOWER Junior Member
    from Ottawa
    Messages: 12

    Looking what others in Ontario are carrying for insurance, and who they are with. I have a business policy for my construction company, but they want crazy numbers for snow....looking for ideas, and to ensure i am running comparable coverage. Other provinces can chime in helpful things too...
    Last edited: Oct 18, 2013
  2. Chineau

    Chineau Senior Member
    Messages: 447

    What kind of plowing do you plan to do?

    Tell us something about your operation.

    CAT420DITPLOWER Junior Member
    from Ottawa
    Messages: 12

    One Skid with snow bucket, One Backhoe with 10 Wing blade. Mix of Commercial and Residential accounts. About $10k in commercial contracts, and 10k in Residential (35 lanes)

    Salting for commercials only.
  4. Chineau

    Chineau Senior Member
    Messages: 447

    Up until this year i had 2 million per occurrence but with one of the contracts i have landed for the season that is now 5 million. i will say shop it around from one place to another saved me over 1500 per year so it is worth your time. you have to evaluate how big a portion of revenue will come from snow and how much risk are you taking on.
  5. PrecisionSnow

    PrecisionSnow Member
    Messages: 71

    I hear that $22-28/$1000 in revenue is common in the Ottawa area.
  6. vmurray

    vmurray Junior Member
    Messages: 10

    Just secured my insurance today (yah!) here in Ottawa area.

    I assume there is a base cost with bracketing for revenue (ie. x/1K below xxxK, xx/1k between xxxk-xxxxK, etc...) but I am waiting for clarification from my broker on that item.

    I don't expect I'll ever see any scaling benefits as I'm not entering snow service with great asperations, simply supplementing my summer business with a few accounts.

    This was my first time through the process so I'm no expert but willing to share info if you have some questions I can answer. Message me or something.

  7. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 166

    Cat, get yourself over to a larger independent insurance agent in your area and offer them all of your insurance. You should not have problems securing your snow insurance on your construction GL policy unless you are a high hazard contractor. Make sure they handle a lot of construction insurance clients as they will have great experience and great direct markets. Good luck.