Insurance for Builder Contracting
Helping Businesses in Ottawa with Insurance Coverage
Builder’s Risk or Course of Construction – This coverage is intended to cover loss against damage to buildings during the course of the construction. It is available for the building owner and/or the contractor. This means it is a protection against damage at the construction site.
It includes:
Broad form coverage
Residential risk
New construction
Renovation
Additions
Projects in progress
Earthquake
Flood
Theft
Vandalism
Transit
Offsite storage
CGL available
When this policy is issued, it is calculated on the selling price of the home or building, less the cost of the land. A builder can add a reasonable amount to cover the loss of any profit.