Builders Risk Insurance in Canada
Safeguard Your Construction Projects Across Canada From Start to Finish
Builders Risk Insurance protects your construction projects in Canada against unexpected losses like fire, theft, vandalism, and weather damage. Whether you’re building new structures or renovating existing ones, Builders Risk Insurance ensures that your investment is covered until the project is complete.
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What Is Builders Risk Insurance?
Builders Risk Insurance, sometimes called Course of Construction Insurance, is a specialized type of property insurance designed to cover buildings and structures under construction. It protects materials, equipment, and work-in-progress against specific risks that could delay or derail a project anywhere in Canada.
Typical Claims Covered
Fire or smoke damage
Theft of materials or equipment
Vandalism
Collapse due to design or workmanship errors (optional coverage)
Temporary structures (like scaffolding or fencing)
Windstorm and hail damage
Even if you’ve done nothing wrong, defending yourself from a claim could cost tens of thousands of dollars.
Who Needs Builders Risk Insurance?
If you’re responsible for construction, renovation, or installation projects in Canada, you need Builders Risk Insurance.
General Contractors
Subcontractors
Property Developers
Project Owners
Builders and Construction Managers
Many lenders and project owners require proof of Builders Risk coverage before financing or approving construction in Canadian markets.
What Does a Builders Risk Policy Cover?
Builders Risk Insurance typically covers:
Buildings and Structures
Under active construction or renovation
Materials
On-site, in transit, or temporarily stored off-site
Fixtures and Equipment
Installed or waiting to be installed
Debris Removal
Cleanup costs after a covered event
Testing Coverage
Protects materials and equipment during testing phases (optional)
Note: Builders Risk policies do not cover contractor liability, accidents, or worker injuries — you’ll need separate Contractors Liability Insurance for that.
Specialized Support for Builders and Contractors Across Canada
Tailored Policies
Designed specifically for Canadian construction projects.
Leading Canadian Insurer Access
Get competitive rates through top-rated Builders Risk carriers.
Flexible Terms
3, 6, 9, or 12-month policies available depending on project length.
Optional Add-Ons
Earthquake, flood, soft costs, and testing coverage available to suit Canadian risk profiles.
Start your project with confidence. Protect every phase from groundbreaking to ribbon cutting 2014 across Canada.
Do You Need Contractors Insurance?
If you manage a business that provides materials or services to complete a job, you need Contractors Insurance. Below is a list of typical contractors we support. Click on the links to learn more:
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Frequently Asked Questions (FAQ)
Is Builders Risk Insurance mandatory in Canada?
It\u2019s not legally required, but most lenders, municipalities, and large project owners in Canada demand proof of Builders Risk Insurance before work can begin.
How much does Builders Risk Insurance cost in Canada?
Premiums typically range from 1% to 5% of the total construction budget. For example, a $1 million mid-sized project in Canada could see annual premiums between $10,000 and $30,000 depending on risk factors.
Can Builders Risk Insurance be extended if my project is delayed?
Yes. Most Canadian insurers allow extensions if construction timelines shift, though additional premiums usually apply.
Does Builders Risk Insurance cover theft by employees?
Generally, no. Theft by employees is excluded unless specific Employee Dishonesty Coverage is added to the policy.
Can earthquake or flood coverage be included in Canadian projects?
Absolutely. We can offer earthquake and flood protection depending on your location, especially important for regions like British Columbia or parts of Eastern Canada.
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