Question 1

What does a $2M CGL policy typically cost in Canada in 2026?

Accepted Answer

There is no single average. Per Summit's verified 2026 guidance, lower-risk small businesses can sometimes start around CAD $425–$500/year, small trades commonly land at CAD $600–$1,200/year, mid-risk operations at CAD $700–$1,000/year, and high-risk or complex operations exceed CAD $1,500–$3,000+/year.

Question 2

What factors most affect a $2M CGL premium?

Accepted Answer

Trade and hazard class, gross revenues and payroll, claims history and risk controls, subcontractor management, and the chosen limits and deductibles typically have the biggest impact on a $2M CGL premium. Higher-risk work such as roofing, exterior work at height, and snow or ice operations usually prices above lower-risk classes.

Question 3

Do higher-risk trades pay more than typical small-business pricing?

Accepted Answer

Yes. Per Summit's verified 2026 guidance, high-risk or complex trades (e.g., roofing, snow removal, demolition) can exceed CAD $1,500–$3,000+/year for $2M, versus about CAD $600–$1,200/year for typical small trades.

Question 4

Is a $2M limit sufficient for Canadian contracts?

Accepted Answer

Often yes, but it depends on your client contracts, the nature of your work, and how much exposure you have across concurrent jobs. Many Canadian contracts and jobsites ask for $2M CGL, but businesses with higher-hazard operations or stricter contractual requirements may need higher limits.

Typical $2M CGL premium in Canada (2026)

One-sentence answer

Assumptions and scope

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