Coverage you can build on
Are you building a home or renovating? Are you a contractor or do you run a construction business? If so, Rogers Insurance can help protect your home or business with construction insurance. We offer a wide range of coverage and our construction insurance brokers will be able to help you determine your coverage needs and balance them with your budget. Because we’re an independent brokerage, we work with a large number of insurance companies and can deliver competitive construction insurance quotes.
Rogers Insurance is affiliated with the Calgary Construction Association, the Alberta Roadbuilders & Heavy Construction Association, the Surety Association of Canada and the Alberta Ready-Mixed Concrete Association. As an industry member, you can trust you’re in good hands and we have the expertise to protect your business.
Contact us today for your construction insurance quote or read on to learn more about this coverage.
Construction Insurance for Businesses
If you’re a contractor or operate a business in the construction industry, properly protecting your business is essential. You will also likely be required to have certain insurance by your contract.
What does construction insurance cover for companies?
There are many types of construction insurance and what you need will depend on your individual business and type of construction projects you’re involved in. Our experienced construction insurance brokers will work with you to balance your coverage needs and budget. Your protection can include:
- Commercial General Liability
This can help cover injuries and property damage suffered by visitors to your premises, including legal expenses if you’re sued. Keep in mind that construction sites may not be included in this coverage and may require additional protection.
This essential coverage protects your company’s physical assets, including the structure, equipment, tools, inventory, materials, furniture and more.
- Builder’s Risk/Course of Construction
While the project is underway, this coverage will cover damage or loss to the building you’re working on. It also covers labour, equipment, and materials.
This is specialized coverage for large contracts or projects. It is a blanket liability coverage that protects the project’s owner, contractors and subcontractors. It may include general liability, builders risk, umbrella liability, umbrella liability, workers compensation, commercial auto, and property damage. Coverage may vary by your location, project, and individual policy.
- Business or Income or Project Interruption
If you’re forced to stop construction due to an insured loss or a mandatory evacuation, would your business be able to keep paying its bills? This coverage helps you get through this tough situation by providing funds so you can pay the essentials while you wait to begin work again.
This provides protection for your equipment and tools whether they’re at the job site, in transit, or at your premises. This ensures your property is covered no matter where it is.
In construction, there is often essential equipment to getting the job done. If this equipment breaks down, you’re not normally covered under property insurance. But with equipment breakdown insurance, your construction equipment will likely be covered for repairs or replacement if it breaks down.
This coverage protects you from business-related crime including fraud, embezzlement, forgery, misrepresentation, theft and other crimes.
As most construction contractors have work vehicles, commercial auto protection is a must. This protects your business with third party liability and can also help you repair or replace your vehicles after an accident.
If you’re bidding for a large project or government project, you may be required to purchase a surety bond. This demonstrates to the client that you’re serious about the bid and your company will be able to complete the work.
Of course, this is just a shortlist of construction insurance protection available. Your coverage is customizable and based on your needs and budget. Our experienced construction insurance brokers can advise you as well as take care of the shopping around for the best construction insurance quote.
Home Construction Insurance
If you’re renovating or building a home, you’ll also need specialized home construction insurance.
Do I need to notify my home insurance company if I’m renovating or rebuilding?
Yes, you should always inform your current insurer that you’ll be performing renovations or building new. Why? Here are three reasons:
- Construction projects raise the likelihood of damage and increase the risk of a liability claim (someone getting hurt or having their stuff damaged while on your property).
- If you’ve vacated your home, there’s also an increased risk of damage from vandalism or theft or a higher chance of damage going unnoticed.
- These projects change the value of your home.
It’s a good idea to contact your insurer as soon as your permits have been approved but before construction begins to ensure you’re protected throughout the build or renovation.
You should also notify your home insurance company when the construction project is complete.
Construction Home Insurance
If you’re building a new home or undergoing a large renovation project, you’ll need course of construction or builder’s risk coverage. This is specifically designed to protect homes under construction or going through renovations. For small projects, your insurer may not require you to have this coverage.
If you have a lot of assets, it may be a good idea to purchase extra liability protection such as umbrella or excess liability insurance. Injuries are more likely to happen at a home under construction, and insurance can help you protect yourself if you’re involved in a lawsuit.
You should also ensure your construction contractors have the proper insurance, including liability protection and coverage for their tools and materials. This coverage will also help protect you!
How much does construction insurance cost?
The cost of construction insurance depends on several factors, including:
- Your insurance and claims history
- The value of the project (or rebuilding cost)
- Location of where you’re working, which indicates the frequency of natural disasters as well as the crime and claim rates of the area and the distance from fire services
- The value of materials and tools stored on site
There may be other influences on the price of construction insurance – our brokers can help you find the best value of coverage for your money.
Working with Rogers for Your Construction Insurance
We’ve been trusted business and home construction insurance brokers since 1977. As an independent brokerage, we work for you, not an insurance company. We have access to a large number of markets which means you’ll get truly competitive business and home insurance quotes and a choice in your coverage.
You’ll notice a difference with our hands-on, human-first approach. Our professional and experienced brokers are there to help you determine your insurance needs, find the best prices, advise you on anything risk-management and insurance-related, and advocate on your behalf if you have a claim.
Contact us today if you are building or renovating your home or have a business in the construction industry. We offer competitive construction insurance quotes online, by phone, or at our locations.