Safeguard your construction business with course of construction insurance.
Commercial builders risk insurance is specialized construction coverage that provides builders with financial protection against losses from fire, theft, vandalism, and storms, to name a few.
Builders, contractors, and project owners obtain construction risk insurance to protect their financial interests until the project is completed and handed over.
When you purchase a builders risk policy, you're protecting your business from various risks. While specific coverage can vary depending on insurance and policy terms, there are some commonly included coverage in a builders risk policy.
1. Theft - protection against theft of materials at the construction site.
2. Property Damages - coverage for fire, storm, and vandalism damages.
3. Materials in Transit - safeguard of materials during transportation.
4. Temporary Structures - protection for temporary structures and scaffolding on the construction site.
5. Soft Costs - coverage for expenses incurred due to project delays.
6. Debris Removal - compensation for removing debris following a covered loss.
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Anyone involved in a construction project, such as builders, contractors, project owners, and developers, will all benefit from a builders risk policy in Ontario. No matter your role in the construction project, course of construction insurance protects your business from potential risks while a building is under construction.
Securing a builders risk policy in Ontario will mitigate financial risk and safeguard your assets. Working with an experienced broker, like Buildsure can make all the difference. The Buildsure team has exclusive access to builders risk frame rate starting as low as .035/month.
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