Builder’s Risk Insurance2020-01-09T14:05:54-05:00

Builder’s Risk Insurance

Builder’s Risk Insurance is an essential coverage for contractors all over Canada to protect their business from costly claims during construction projects.

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Builders Risk Insurance

What is Builder’s Risk Insurance?

Builder’s Risk Insurance is a type of insurance that covers the costs associated with physical loss or damage to a construction site for the duration of the project.

Contractors are often required by clients to insure their project with a Builder’s Risk Insurance policy, as property claims can be expensive, and the risk of damage is usually high.

Builders Risk Coverage

What does Builder’s Risk Insurance cover?

Builder’s Risk Insurance, also known as Course Construction Insurance, covers the cost to repair or replace property, equipment, and construction materials in the event of physical loss or damage due to an insured event, such as fire, theft, or vandalism.

A Builder’s Risk Insurance policy typically covers the duration of the construction project, beginning at three months, and includes both liability and property coverage. Carefully read your Builder’s Risk policy to ensure it covers all of your unique business risks.

Builders Risk Requirements

Who needs Builders Insurance?

Any individual or businesses providing construction or renovation services should protect their business with a Builder’s Risk Insurance policy package.

Some of our clients include: 

  • Commercial Contractors
  • Carpenters
  • Electricians
  • Plumbers
  • Landscapers

At the end of the day, we want you to focus on running your business. Leave the insurance part to us. To get started, request a free Builder’s Risk Insurance quote.

Builders Risk Costs

How much does Builders Risk Insurance cost?

We’ve partnered with over fifty insurance providers to offer you different options that suit your business needs at the best price.

When you fill out our online application, we will ask some questions about your business to help better understand your needs. The following factors are taken into consideration when determining the best policy options for you: 

  • Years of Experience
  • Project Cost (Hard and Soft)
  • Type of Project
  • Previous Insurance Claims

We know you’re busy, so let us do the shopping around. Complete our online application for a free Builder’s Risk Insurance quote.

Getting insured is quick and easy!

If Builder’s Risk Insurance is what you need, request a free quote now.

Frequently Asked Questions about Builders Risk Insurance

What is the difference between property insurance and builders risk insurance?2019-09-05T17:55:11-04:00
Builders risk insurance is a special type of property insurance that only applies to projects undergoing extension. It may cover buildings under construction, scaffolding, structures and materials on-site in the event of loss or damage to some external causes such as fire, wind, vandalism, explosion, and theft by a third-party (employee theft is usually not covered).
Does builders risk insurance include coverage from all forms of damage?2019-09-05T17:56:18-04:00
Your builders risk policy may have exclusions or limitations, so make sure you understand the scope of your coverage. Damage due to fire, wind, vandalism, explosions, and theft are usually covered, and damage due to earthquake, water damage, employee theft, war and voluntary parting are usually excluded unless specifically requested to be included under the coverage.
Do I need a builders risk policy if I already have contractors insurance?2019-09-05T17:55:44-04:00
You may need additional coverage for builders all risk insurance even if your contracting business is already insured with a contractors insurance policy. A contractors insurance policy usually consists of general liability insurance, which covers injury and property damage to third-parties, property insurance, which covers expensive tools and equipment in cases of damage from external factors, and equipment breakdown coverage, which covers damage to equipment due to internal causes such as electrical breakdown or operator error.

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