Third-party bodily injury, property damage, and advertising injury.
Faulty workmanship, slander, libel, failure to deliver, and bad advice.
Environmental pollution accusations, legal expenses, clean-up fees, and punitive fines.
Raises coverage limits across other liability lines.
Data breach litigation costs.
Bodily injury or property damage from work already completed.
Damage to commercial property and contents from insured perils.
Protects tools and equipment from vandalism, theft, and accidental damage of commercial property, including at job sites and in transit.
Protects buildings under construction from insured perils during the course of construction.
Covers ongoing expenses when commercial property, equipment, or tools are damaged and your business cannot operate normally.
Cargo coverage for materials and goods being moved overland by truck or train.
Tell us about your insurance needs and current coverage.
We shop multiple trusted insurers to find coverage that fits your needs and budget.
Review your options, choose what fits your needs, and get your policy started, often the same day.
Serving all of Ontario, our brokers are available in every region. Find the closest office to you.
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the nearest broker to you
Our licensed brokers help clients throughout Ontario — virtually, by phone, or in person.
What Is Construction Insurance?
Construction insurance is a product tailored to protect a construction company best based on its specific operations and those of third parties on construction sites. Construction company insurance protects the property owner, developer, and contractors (including subcontractors) by providing financial compensation for insured/covered losses during the construction of a building or multiple buildings.
How does construction insurance work?
Construction insurance covers a project from start to finish—sometimes even beyond. This means construction insurance coverage from the bidding stage (to secure a contract) to completion when a building is occupied.
A construction business insurance broker is a trained and trusted advisor who will help contractors and builders get construction insurance. Ontario brokers will gather information about your business, and, generally speaking, an application or applications are required, as the complexity of each construction project is often very different. As you know, each construction project is different and has its own considerations, needs and potential pitfalls. The same applies to construction insurance. Ontario construction company owners can rely on our team of experienced brokers to help them find the best coverage for the perils they are likely to encounter.
Why Is Construction Insurance Important?
Construction insurance can protect interested parties’ assets, transfer risk contractually, account for labour changes, and help with financial compensation for covered losses, which may otherwise put a company out of business. Commercial general liability provides funds to pay for judgments/settlements associated with third-party legal matters. Companies can help avoid potential bankruptcy due to damages or losses and potential lawsuits by ensuring proper construction insurance coverage is in place.
Construction sites are complex. They are busy with lots of people, tools, equipment, and technology on-site. The sites can be dangerous, and unfortunate events can and will occur. It is best to have the proper construction insurance in place so that you are properly protected in the event of a loss.
How Can Construction Insurance Help Your Business?
Construction insurance can help your business by assisting the company in securing contracts that, without confirmation of construction insurance in place with limits to meet contractual obligations, the business may not obtain. Construction insurance can also help solidify a company’s strong reputation in the construction industry for being an insured and/or bonded operation.
Who Needs Construction Insurance in Ontario?
Anyone generating revenue by offering construction services/operations needs construction insurance. Some examples of these kinds of services/operations include:
What Are The Main Considerations For Construction Insurance?
The primary considerations for construction insurance in Ontario can rely on include:
These are among some of the factors that will inform a construction insurance broker to determine the types of coverages needed, the limits of insurance, and the premium. When you speak to your Morison Insurance broker, give them as much information as possible about how you choose to run your unique business. No two businesses are alike, so a one-size-fits-all insurance solution just doesn't work for construction insurance. Ontario construction professionals need coverage that is specifically designed to address their company's insurance needs so they have the right type and amount of coverage in place when they need it most.
