Builders Risk Insurance Canada
Your Project Is at Risk Until It's Insured.
One fire. One theft. One storm. Without Builders Risk Insurance in place, a single event can wipe out your margin and delay your project by months. Get covered from groundbreaking to handover.
Same-day quotes available
3, 6, 9, or 12-month terms
Across Canada (excluding QC)
No obligation. A broker will follow up within 1 business hour.
Get Quoted. Get Certain.
RIBO Registered
Lloyd's Coverholder
70+ Yrs Experience
What’s Covered
Construction Sites
Standard Builders Risk Insurance covers the risks most likely to hit a project. Add-ons cover the ones specific to your region or project type.
Buildings and Structures
Covers the structure itself while under active construction or renovation, at any stage of completion.
Materials and Equipment
On-site, in transit, or temporarily stored off-site. Covers theft and damage to materials waiting to be installed.
Fire and Smoke Damage
One of the most frequent large-loss events on construction sites. Covered under standard Builders Risk.
Windstorm and Hail
Weather is unpredictable. Windstorm and hail coverage protects materials and partial structures during construction.
Vandalism
Covers the structure itself while under active construction or renovation, at any stage of completion.
Debris Removal
On-site, in transit, or temporarily stored off-site. Covers theft and damage to materials waiting to be installed.
Soft Costs (Optional)
One of the most frequent large-loss events on construction sites. Covered under standard Builders Risk.
Earthquake and Flood (Optional)
Weather is unpredictable. Windstorm and hail coverage protects materials and partial structures during construction.
Who This Covers
If You’re Building It,
You Need to Insure It
Builders Risk Insurance applies to anyone with a financial interest in a construction project. That includes the contractor, the owner, and in many cases, the lender.
General Contractors
Subcontractors
Property Developers
Project Owners and Investors
Construction Managers
Real Estate Developers
Renovation Contractors
1–5%
of total construction value is a typical annual premium range
$77.6B
Canadian general insurance market GWP in 2022, growing 6%+ annually
3–12mo
flexible policy terms to match your project timeline
Same Day
broker response for new quote requests submitted online
What It Costs
Builders Risk Insurance
Premiums in Canada
Premiums are calculated as a percentage of total construction value. The factors that affect your rate include project type, location, construction methods, and security measures on site.
Project Value
Typical Rate
Estimated Premium
$500,000
1–3%
$5,000 – $15,000
$1,000,000
1–3%
$10,000 – $30,000
$3,000,000
1–2%
$30,000 – $60,000
$10,000,000+
0.5–1.5%
Quoted individually
Estimates only. Actual premiums depend on project type, location, construction method, and insurer. Contact a broker for an accurate quote.
Common Questions
Is Builders Risk Insurance mandatory in Canada?
Not legally required by law, but most lenders, municipalities, and project owners in Canada require proof of Builders Risk coverage before financing is released or work can begin. If you’re working with a bank or institutional client, assume it’s required.
What does Builders Risk Insurance not cover?
Builders Risk does not cover contractor liability, worker injuries, equipment breakdown, or employee theft (unless specifically added). You’ll need separate Contractors Liability Insurance to cover third-party injury and property damage claims arising from your operations.
Can I extend my Builders Risk policy if the project is delayed?
Yes. Most Canadian insurers allow extensions when timelines shift. Additional premiums typically apply. The key is notifying your broker before the policy expires, not after. A lapse in coverage can result in denied claims.
Does coverage apply to materials stored off-site?
Standard policies typically cover materials in transit and temporarily stored off-site, up to a sub-limit. If you’re storing high-value materials at a warehouse or yard before delivery, confirm the off-site sub-limit with your broker and consider whether it needs to be increased.
Can I get earthquake or flood coverage for my project?
Yes. Both are available as add-ons and are particularly important for projects in British Columbia, parts of Ontario, and Atlantic Canada. Flood coverage terms vary significantly by insurer and location, so get a specific quote rather than assuming it’s included.
Ready to Cover Your
Next Project?
Submit your project details and a licensed broker will follow up within one business hour.