Construction

Civil liability insurance covers property damage and bodily injury that you may involuntarily cause to a third party or one of your clients, anywhere you conduct your activities. For example, you are renovating the outside of a house. Unfortunately, just as the client gets home from work, your ladder falls on the client and their car. The client is seriously injured and their car is damaged. In this situation, liability coverage is essential to protect your business in the event of a lawsuit or claim arising from your activities or work. It is important to choose the right coverage limit based on the potential risks, since the consequences could be catastrophic for the survival of your company.

Wrap-up liability for contractors covers your own liability and that of subcontractors working on the project. You may be held liable for damage caused by another contractor on your work site. With this insurance, all contractors can be insured under one policy instead of each contractor purchasing their own liability coverage.

Difference in deductible (DID)

Do you know what difference in deductible is? Contact one of our brokers to find out how this coverage could benefit you!

Adding this coverage to your construction insurance policy covers the cost of repairing or replacing inadequate workmanship. Inadequate workmanship is defined as work that does not meet the client’s requirements or current standards.

This insurance covers damage caused by pollution from a sudden and accidental or continuous and gradual event, depending on the type of policy. Your company is protected in the event of pollution resulting from the discharge, release, escape or dispersal of solid, liquid or gaseous substances into the atmosphere, water, or water lines such as sewers or drainage systems. For example, while performing excavation work, you hit an oil or fuel line and cause a spill. A vehicle may also collide with machinery parked on the work site and cause a fuel spill. This insurance covers the resulting damage. It can also cover fines and penalties.

Adding executive risk coverage, better known as “D&O,” covers directors, officers and the company itself in the event of certain wrongful acts in the management of the company. Common causes of insurance claims include:

• employment practices lawsuits arising from allegations of harassment, discrimination or wrongful termination;
• lawsuits resulting from bankruptcy ;
• allegations of misrepresentation, and/or lawsuits arising from non-compliance with regulations that apply to the project location.

This insurance can also cover legal defence costs if these allegations and lawsuits are brought against you.

Professional liability is also known as “E&O.” This insurance covers financial losses that you may cause to a third party from errors made in the performance of your work. Professional liability also covers defence costs if your client decides to sue you.

This insurance covers the cost of materials and labour to redo work in the event of damage to an insured work site. The right of subrogation is very limited with builder’s risk insurance, since subcontractors are considered unnamed insureds. It does not cover damage to equipment that belongs to the contractors, insured or subcontractors.

This insurance covers the cost of materials to redo work in the event of damage to an insured work site. Installation risk insurance does not cover damage to equipment that belongs to the contractors, insured or subcontractors.

The contractors’ equipment and tools and rented equipment floater covers direct damage to your property, wherever it may be:

•  on the work site or project location ;
• in transit ;
• at non-designated temporary locations.

As its name indicates, this insurance covers accidental damage to property that you lift, lower or move using a crane or lifting equipment.

Adding this insurance covers the costs associated with the destruction (rip) or removal (tear) of defective concrete. Sometimes, the concrete poured into the forms does not properly set. If an accredited testing agency determines that the concrete does not meet the construction specifications, the cost of removing it will be covered by your insurance.

This coverage includes:

• the cost of removing defective concrete ;
• the cost of replacing the forms, braces, pipes, electric conduits and other required material ;
• the cost of restoring the structure to the same condition before the concrete was found to be defective ;
• any concrete that has been prestressed, precast or ready-mixed, as well as asphalt, sand, gravel and urea formaldehyde.

Surety bonds can fall into two categories:

Surety bond for contractors

Whether it is a bid bond, performance bond or labour and material payment bond, a surety bond guarantees that a contractual obligation will be fulfilled. For example, it guarantees to the creditor that the work will be completed on time and at the agreed price. This type of surety bond is also referred to as a contract bond.

Commercial surety bond

This type of surety bond allows you to obtain a license or a permit in order to deal with government agencies. It guarantees that you will comply with a law or municipal by-law to ensure that your business meets current standards.