Construction coverage

Course of Construction Coverage

New builds, upgrades, renovation - we have your construction projects covered.

Construction Coverage Made Simple

Support your clients with streamlined policies created for builders and backed by expert guidance.

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  • Flexible policies
  • Competitive pricing
Cover the Build

Construction Risk Starts Day One

Builders risk policies protect developers, project owners, or general contractors involved in new builds or renovations projects. Common properties could include commercial buildings, townhomes or strata’s.

Policies are intended to cover the replacement cost of a project if damages or losses occur during or before completion of a project. Various coverage options are available for builders risk policies including blanket coverage extended for multiple projects, or single project coverage should there be a single location. Common coverage limits include hard cost, soft cost, and others.

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What does Course of Construction coverage protect against?

Course of Construction - Hard Cost

Costs directly related to construction and actual values of property on the construction site, not limited but including, materials and labor cost of the project, roofing, HVAC, and wood frames, subject to exclusions.

Course of Construction - Soft Cost

Other project related expenses, but not limited to, fees for architects and engineers, marketing and advertising, legal, financing and administrative fees, subject to exclusions.

Course of construction coverage on a broad form basis will provide coverage for perils not limited too but against fire, lightning, windstorm, theft, while protecting:

  • Replacement cost of the building or insured project
  • Materials that will be incorporated into the project while on-site
  • Materials and property during transit to the construction site
  • Landscaping elements, including trees, plants, shrubs, or flowers, that will be integrated into the finished project

    • Single Project
    VS Blanket Policy

    Compare coverage options based on your build volume—whether it’s one site or multiple projects across locations.

     

    • Single project specific location will be insured.
    • Project specific limits will be applied.
    • Quick and simple process for builders constructing only a few projects per year.
    • Can apply to builders building 10 or more projects in a single year.
    • Single application will extend to multiple locations.
    • Blanket specific policy limits applicable to all project locations.

    Wrap Up Liability Coverage

    Wrap up liability intends to provide comprehensive liability coverage for an entire construction site protecting multiple parties involved under a single policy. Coverage is offered and compatible with project specific builders risk policies and commonly applies to various contractors, subcontractors, builders, and owners. Wrap up insures those involved carry the same liability limits while avoiding any coverage gaps or overlaps.

    If a third party suffer an injury on the construction site, or if a subcontractor’s error leads to a lawsuit, wrap up coverage ensures adequate protection for the project owners and those parties involved under the policy.

    Broad form Wrap Up coverage also extend to include:

    • Products and Completed Operations with up to 24 month indemnity period
    • Tenants Legal Liability
    • Medical Payments
    • Forest Fire Fighting Expense
    • Non-Owned Auto Liability
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