Your business is important, and having the right insurance will protect you from setbacks and liability. We can help you find the perfect coverage for everything from your actual building to income insurance. Cornerstone is dedicated to protecting you and your business
Contractor's, Trades & Trade workers Insurance
Contractors have unique insurance requirements. Many contractors qualify for a package type policy which means in addition to unique and specialized coverage, a contractor will receive extra coverage’s that fill in the gaps. Package coverage generally includes commercial general liability, property coverage such as offices or shops, equipment greater than $5000 which is specifically listed on your policy with the declared value and serial number, and tools of any one item less than $5000. Your tool value must reflect the maximum value of tools that may be off-site not just at your shop.
Surety Bonding / Contract Bonding
Surety bonding can be broken out into two major categories, commercial or license surety bonds and contract surety bonds
Commercial/Licence surety bonds are needed to qualify for a license in various industries, such as electricians or auto dealers. The commercial surety bond is a guarantee of compliance to licensing requirements, and is needed when applying to provincial authorities for a license. At Cornerstone Insurance our surety experts have access to Canada’s leading surety companies and can usually provide same day service with your standard license bonds.
Contract surety bonds are for contractors who want to bid on projects where the project owner has requested bonding. Initially you must establish a bond facility with a surety company, once that is done you are able to obtain bid bonds, allowing you to include the bid bond with your project tender. Upon successful award of the project, you may be asked to provide a labour & material bond (or payment bond), as well as a performance bond. These bonds, sometimes collectively referred to as “ final bonds” guarantee faithful execution of the construction contract as awarded.
Cornerstone Insurance has a vast expertise in all areas of surety bonding, our experienced surety experts excel at helping our clients both secure and enhance their bond support.
Commercial Auto Insurance
In Saskatchewan, your license plate and registration provide basic protection for you and your vehicle. The coverage provided by the license plate is a $200,000 liability limit and a $700, $500 or $2,500 physical damage deductible for your vehicle depending on the class of license plate.
Many vehicles are used for business, such as contractor operations or hauling goods and passengers for compensation. It is important to consider purchasing an extension auto policy to provide additional coverage for your vehicle and its operations. What your vehicle is used for, and class of license plate it requires may legally require you to carry increased liability limits, and possibly even cargo insurance. With an auto policy, you can lower your collision and comprehensive deductibles, add Road Hazard glass coverage, wildlife waiver of the deductible, loss of use coverage, increase your liability limit and other valued coverage’s. Availability of all coverage options varies depending on the vehicle’s use.