Framers insurance is a type of contractor insurance coverage that offers financial protection if you or the products you have constructed cause bodily injury or property damage to others, and you are sued by a plaintiff who wants compensation for medical bills, replacement costs and so on. It also protects you against financial loss if your tools, equipment or commercial property are damaged, stolen or destroyed, so you can get them replaced or repaired and get back to work without suffering a major disruption or being forced to close up your business altogether.

Anyone who does framing work, whether heavy-frame construction or light-frame construction and whether they're an independent contractor or work for a framing company, must be protected by the right combination of Framers insurance for their specific needs. Without it, you could be forced to pay out of pocket for astronomically high costs that could spell the end of the business and your financial security.

The coverage limits necessary for your Framers insurance policy will vary based on the types of coverage you need, your risk exposures and other factors. Because Framers have more risk exposures than other professions that aren't involved in building structures, they may need higher coverage limits than the standard recommendations. For example, most business insurance policies need at least two million dollars in commercial general liability insurance. Still, Framers may need to consider three million or five million dollar limits for CGL coverage due to a higher probability of liability concerns.

Most business professionals are not legally obligated to have business insurance coverage in Ontario except commercial auto insurance. But just because the government does not mandate it, it doesn't mean you don't need it. It's easy to think that you'll probably never need to make a Framers insurance claim anyway because you'll be extra careful and do everything correctly, but that's not a realistic long-term plan.

Accidents happen, uncontrollable events like natural disasters occur, and you can even be accused of causing damage or injury you weren't responsible for and be forced to defend yourself in court. The expenses resulting from those scenarios can end up well into the millions of dollars, and that's different than the kind of bill an average person can pay without experiencing extreme financial difficulties. Save yourself the pain and uncertainty of financial loss by ensuring you have the right Framers insurance to provide the monetary support your business needs to recover quickly from major unexpected expenses.

When assessing your application for Framers insurance, the insurance provider will assess your risk exposures to determine how much of that risk they are willing to take on and what your premiums will be. Framers insurance providers will want to know information such as:

• Gross revenues
• Work history
• Claims history
• Types of projects you take on (Example: Do you only do new construction builds or work on additions and repair post-construction framing?)
• Types of materials you work with include wood, steel, concrete, etc.
• Commercial property location - if any
• Number of employees
• Use of subcontractors

They'll also want to know which coverage options you're looking for and determine the necessary policy limits. If you'd like to learn more, or to start a Framers insurance quote, give us a call to speak with your licensed Morison Insurance broker. We know which questions to ask to learn about your unique business and how you like to operate. We'll use that information to track down the suitable coverage options for your particular risk exposures.