Build a Solid Construction Insurance Policy
Construction companies and trade contractors are at a high risk of injury and property damage claims in their business. That’s why a solid insurance policy can take you from one job site to another with confidence.
Construction Insurance in Canada
Construction insurance is a secure and solid plan to ensure accidents will be covered from project start to finish. Injury and property damage risk is an expensive recovery at construction job sites without the proper insurance coverage for your business. Whether you are a window cleaner or construction contractor, we have a unique insurance plan that will give you peace of mind on the job and after hours.
What is Covered Under a Construction Insurance Policy?
There are several coverage options that your insurer typically offers:
Commercial Liability (CGL) Insurance:
Also known as general liability insurance, CGL insurance covers third-party bodily injury and property damage. It typically covers medical, repair/replacement, and legal expenses.
Builder’s Risk Insurance:
Builder’s risk protects you for the entire project and covers the building, materials and losses from property damage from perils, such as fire, vandalism, and theft.
Commercial Property Insurance:
Business contents insurance, or commercial property insurance, secures your business premises and contents from certain natural disasters, including fire, theft, and vandalism.
Tools and Equipment Insurance:
Construction tools and equipment are pricey and if stolen or damaged, could turn your business upside down financially. This type of insurance may reimburse repairs or replacement tools and equipment due to theft, fire, severe weather, and other incidents.
Pollution Liability Insurance:
Pollution liability insurance guards your business against environmental damage, third-party liability and property damage. Protection could also pay for fines, cleanup costs, and assessments.
Commercial Auto Insurance:
If you have vehicles you use for your construction business or as a trade contractor, you will want a commercial auto insurance policy. Claims can include property damage or third-party bodily injury involving company vehicles.
Why Choose Rhodes & Williams Insurance?
In Business for almost 90 years.
As an independently owned brokerage, we take care of our clients at every stage of the insurance journey, from the initial connection to the completion of each customer’s request, on time.
Hands-on Insurance Services.
We have a team of committed brokers, which allows us to be the go-to insurance brokerage in major cities in Canada. We provide impeccable service so you can go on with your life with your insurance needs taken care of.
Trusted by Many.
Whether you need home, car, business, or recreational insurance in Canada – we have your back. See our Testimonials for proof of exceptional service.
Yes. Whether you are a residential, commercial, or industrial construction company in Canada, you need standard insurance protection in the event of third-party injury and property damage.
The price of a comprehensive construction insurance policy in Canada can range widely but will cost you approximately $550 to $600 annually for a commercial general insurance (CGL) policy. Ask a Rhodes & Williams broker about insurance limits. We highly recommend a $2 million limit for CGL insurance.
Many factors can impact your construction premium, including the size of your company, number of employees, past claim history, revenue, experience, and more.
Yes, it’s recommended your workers carry a liability policy in the event they are involved in an accident or must pay legal fees.