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Construction & Renovation

Construction and Renovation Contractors have unique insurance requirements in order to ensure that they are properly protected both for their businesses, but also for their projects.

Builder's Risk (Course of Construction) Insurance

Properties that are under construction and companies that construct them need insurance for the following:

  1. Coverage to temporary buildings, materials and supplies necessary to complete the project.  

  2. Coverage for vandalism to the supplies or the property being constructed.

  3. Coverage for unforeseen damage to the property being constructed such as fire, lightning, and explosion.

  4. Some insurance policies also cover labour costs to redo and restore the work as well as extra work fees for architects and engineers.  

The construction company still needs to have a Commercial General Liability policy in case legal action is brought against them for bodily injury or property damage.


 Buildings Under Renovations

Properties that are under extensive renovations requiring the property to be vacant are usually not covered under a homeowner's policy, requiring the property to be insured separately under its own policy.  The insurance policy is similar, with the exception that the value of the existing property needs to be insured from the start of the renovation.

At Keystone Commercial, we can provide the right insurance policy to protect the operations of your business as well as the property being constructed or renovated.  Contact us for a free comprehensive consultation.

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