Call for a quote: 1-866-358-2860

Builder’s Risk Insurance in Ontario: Protecting Construction Projects and Understanding Coverage


Builder’s Risk Insurance plays a vital role in protecting construction projects from potential risks and losses. In Ontario, where construction activity is significant, understanding the importance of Builder’s Risk Insurance is crucial for developers, contractors, and property owners. This comprehensive guide aims to provide valuable insights into Builder’s Risk Insurance in Ontario, including the cost, meaning, coverage, and the basics of the policy. By the end of this article, you will have a clear understanding of the benefits of Builder’s Risk Insurance and how it can safeguard your construction project from unforeseen events.

How Much is Builder’s Risk Insurance in Ontario?

The cost of Builder’s Risk Insurance in Ontario can vary depending on several factors. These include the size and value of the construction project, the type of construction, location, duration, and the coverage limits chosen. Typically, the premium for Builder’s Risk Insurance is calculated as a percentage of the total project value, ranging from 1% to 5% on average. However, it is essential to obtain customized quotes from insurance providers to determine the exact cost for your specific project.

What Does Builder’s Risk Mean in Insurance?

Builder’s Risk Insurance, also known as Course of Construction Insurance, is a specialized policy designed to protect construction projects during the course of their construction or renovation. It covers the structure being built, materials, and equipment on-site, providing coverage against various risks such as fire, theft, vandalism, natural disasters, and other specified perils. Builder’s Risk Insurance is typically purchased by the property owner, general contractor, or developer involved in the construction project.

What Does Builder’s All Risk Cover?

Builder’s All Risk Insurance, also referred to as All-Risk Coverage, is a comprehensive form of insurance that covers a wide range of risks and perils associated with a construction project. It provides coverage for physical loss or damage to the insured property during the construction phase, including materials, equipment, and the structure itself. Common covered perils include fire, theft, vandalism, windstorm, hail, lightning, and even accidental damage. However, it’s important to review the policy terms and conditions as certain exclusions or limitations may apply.

The Basic Builder’s Risk Policy

The basic Builder’s Risk Insurance policy provides coverage for the construction project during the specified period. It typically includes coverage for the structure, materials, equipment, temporary structures, and additional expenses incurred due to covered losses. The policy may also offer options for extended coverage, such as coverage for soft costs (e.g., architect fees, engineering fees) and delay in completion due to covered perils.


Builder’s Risk Insurance is a vital protection for construction projects in Ontario. By understanding the cost, meaning, coverage, and the basics of Builder’s Risk Insurance, developers, contractors, and property owners can ensure their projects are adequately protected from potential risks and losses. Whether it’s fire damage, theft, or natural disasters, Builder’s Risk Insurance provides financial security and peace of mind during
the construction phase. Consult with insurance professionals to obtain tailored policies that meet the specific needs of your construction project and safeguard your investment from unforeseen events.

Share this article


Recent posts


Popular categories

Frequently Asked Questions

How Do You Get a M1 Licence in Ontario?

To obtain an M1 licence in Ontario, you must...

What is Proof of Vehicle Registration in Ontario?

Proof of vehicle registration in Ontario is a document...

Which License is Required for Motorcycle in Ontario?

In Ontario, a Class M license is required to...

How Long Does It Take to Get a Motorcycle License in Ontario?

In Ontario, the process to get a motorcycle license...

Can I Ride Motorcycle With M1 License in Ontario?

Yes, you can ride a motorcycle with an M1...

What Size Are Ontario Motorcycle Plates?

Ontario motorcycle plates are typically 7 inches in width...

What Are the Rules for License Plates in Ontario?

In Ontario, license plates must be prominently displayed on...

How Much is a Motorcycle License Plate in Ontario?

In Ontario, the cost for a motorcycle license plate...