Builder’s Risk Insurance
Are you building a dream home? Are you doing a significant renovation to your home or commercial space?
Protect your dream with Builder’s Risk Insurance while your home/space is under construction.
Join over 150,000 businesses that have trusted us!
Save up to 35% on your insurance
Just a few minutes to get your best quote
Join over 100,000 businesses that have trusted us!
Save up to 35% on your insurance
Just a few minutes to get your best quote
Partnerships with over 50 leading Canadian insurance providers
Partnerships with over 50 leading Canadian insurance providers
Why Choose Zensurance?
We help Canadian business owners save time and money by providing
a convenient and affordable way to buy business insurance.
Convenience
Purchase your insurance anytime, anywhere, with our easy-to-use online platform.
Cost
Compare rates across leading insurance companies to ensure you get the best price on your premium.
Curation
We use data and analytics to identify the right insurance policies for your business.
Claims Examples
Problem: You store materials for a large commercial project in your warehouse a few kilometres from the site. A fire breaks out and destroys everything inside, including the materials.
Outcome: Your Builder’s Risk Insurance covers the cost to replace the materials, and your Commercial Property Insurance covers the restoration of your warehouse, totalling $375,000.
Problem: During the construction of a condo building, it is discovered that poor caulking on the balconies has allowed cold air to come into the building and freeze some of the pipes, resulting in water damage.
Outcome: Your Builder’s Risk Insurance covers the cost to replace the pipes and reseal the affected balconies, totalling $88,000.
Problem: Your team is hired to do an extensive restoration of a historical home before it opens as a museum. Vandals break in overnight and cause significant damage to the property.
Outcome: Your Builder’s Risk Insurance covers the costs of repairing the damages and hiring additional contractors to complete the project before opening. The total cost covered is $175,000.
Builder’s Risk Insurance, Explained.
What is Builder’s Risk Insurance?
Builder’s Risk or Course of Construction is the type of insurance that protects your building and liability for the project’s duration. Home and business owners are often required by the contractor to insure their project with a builder’s risk insurance policy as property claims can be expensive.
The property owner typically requires a builder’s risk insurance for the following:
- New home construction,
- New commercial build construction,
- Adding a second story or addition on the property; or,
- Major renovation projects.
What does Builder’s Risk Insurance Cover?
Builder’s Risk Insurance, also known as Course of Construction Insurance, covers the building, construction materials on-site, and liability 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 covers you from the beginning to the end of the project. We work with you to ensure you are adequately covered every step of the way.
What is the cost of Builder’s Risk Insurance?
The cost of Builder’s Risk Insurance will vary based on the project and the services you offer.
When you fill out our online application, we will ask some questions about your business to understand your needs better. The following factors are taken into consideration when determining the best policy options for you:
- Project Cost (Hard and Soft)
- Value of the Building
- Type of Project
- Previous Insurance Claims
What is not covered by Builder’s Risk Insurance?
A Builder’s Risk Insurance policy does not cover damages to the insured property after project completion or damages caused by:
- Water damage (e.g. flooding);
- Government activities;
- Mechanical breakdowns;
- Contractual penalties; and,
- Faulty design, planning, or materials.
To better understand your coverage limitations, please speak to your broker.
Who needs Builder’s Risk Insurance?
Any individual or business looking to build or do significant renovations should protect themselves and their property with a Builder’s Risk or Course of Construction policy.
Some of our clients include:
- Homeowners
- Business Owners
- General Contractors
- Construction Companies
- Real Estate Developers
- Renovation Contractors
Who pays for Builder’s Risk Insurance?
Purchasing Builder’s Risk Insurance to cover a construction project is typically the property owner’s responsibility. When finalizing the details of a construction project, be sure to identify who will be responsible for purchasing the policy and ensure all involved parties are covered.
Frequently Asked Questions
Purchasing builder’s risk insurance to cover a construction project is typically the property owner’s responsibility. When finalizing the details of a construction project, be sure to identify who will be responsible for purchasing the policy and ensure all involved parties are covered.
Builder’s Risk Insurance is a special type of Property Insurance covering you for the duration of your new build or renovation project. It may protect buildings under construction, materials on-site, and liability in the event of loss or damage due to external causes such as fire, wind, vandalism, explosion, and slip and falls.
Yes. A typical contractor’s insurance policy does not cover buildings under construction. It is essential to cover your building and liability while the project is in process.
Other business insurance coverage options to consider:
Our most recent reviews
See for yourself what customers have to say about us.
4.8 ★★★★☆★ 1500+ Google Reviews
-
The renewal process was quick and easy for the most part. When I needed assistance in completing the document it... read moreThe renewal process was quick and easy for the most part. When I needed assistance in completing the document it was provided in a quick and efficient manner. read less
Ross Leclair6/24/2022Mark was very helpful in gliding me through the process of obtaining my Business Insurance policy!Thank you, Mark!
Erika R6/24/2022Great experience so far! Just signed up for some commercial insurance -- Josh H helped us... very fast and efficient,... read moreGreat experience so far! Just signed up for some commercial insurance -- Josh H helped us... very fast and efficient, and a great price. read less
Suzanne Peters6/23/2022 -
Brenda was a pleasure to work with, thanks again.
Gregory Tome6/23/2022I needed liability insurance to teach Senior's fitness. Zensurance staff were helpful, offered a reasonably priced product (I did... read moreI needed liability insurance to teach Senior's fitness. Zensurance staff were helpful, offered a reasonably priced product (I did check with 3 other companies) and fulfilled my order quickly and efficiently. I would recommend them to anyone, anytime. read less
Margaret Harris6/23/2022Josh did an incredible job very helpful and informative. He was able to accommodate my tight schedule and supply me... read moreJosh did an incredible job very helpful and informative. He was able to accommodate my tight schedule and supply me with everything I needed. He will be the first person I will call in my future needs. read less
GARNET BANFORD6/23/2022 -
Mark Cote was super helpful and quick to respond to my calls and emails. He got me the best rate... read moreMark Cote was super helpful and quick to respond to my calls and emails. He got me the best rate for my yoga and fitness policy. I recommend this Canadian company for all fitness professionals. Site is easy to navigate, and the online chat team is responsive and helpful as well. Thank you! read less
Hamida Denny6/06/2022Perfect so far - Easy to sign-up and get coverage at a reasonable rate. This was by far the best... read morePerfect so far - Easy to sign-up and get coverage at a reasonable rate. This was by far the best experience I have had getting coverage for my small business. Justin was great and I am very happy with Zensurance so far.
I don't have experience with any claims (hopefully I won't need one), but would recommend this insurer if you are looking for coverage. read lessTrevor Schofield5/26/2022Absolutely a great support service. They respond to my emails quickly. Their chat feature on their website is... read moreAbsolutely a great support service. They respond to my emails quickly. Their chat feature on their website is very easily accessible, and I only waited for one minute! Couldn't be happier.
We are pleased that we switched to this broker from our old broker that we were with for over 20 years.
Zensurance is highly recommended if you are looking for business insurance. read lessJeff Panasuik5/20/2022
Ready to start? Let’s get a quote!
Getting builder’s risk insurance shouldn’t be complicated!
At Zensurance, we simplify the process of getting insurance so that you get the coverage you need, quick and easy!
Our friendly support team is always ready to answer questions, we’re just a click or a phone call away.