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    Builder's Risk (Course of Construction) Insurance

    Whether you’re renovating a client’s home or building a commercial property, unexpected events can occur anywhere. Possessing a builder’s risk (course of construction) insurance policy is imperative to ensure you’re financially covered.

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    Unexpected Events Can Cause Severe Damage That Require Coverage

    There are many benefits to hiring your construction services, especially if a client wants the job done right. Your clients have sought out your expertise and skill, but regardless of your experience, there is no guarantee everything will turn out as planned. APOLLO understands that the potential of any unforeseen event could be detrimental to your career, and no matter its impact. We are here to offer you customizable protection in the form of builder’s risk (course of construction) insurance.


    There are inherent and sometimes uncontrollable risks associated with every project you take on. A construction site is especially susceptible to threats that could easily jeopardize its completion. Though you may abide by health and safety protocols, there is no way of predicting factors such as the weather or the possibility of criminal intent. By possessing a builder’s risk insurance policy, you wouldn’t have to worry about the cost of the severe damages or misplaced items associated with such events, as we would cover it for you.


    Ultimately, a builder’s risk (course of construction) insurance policy provides you and your company with security. It is a method that aims to preserve your financial wellbeing for the foreseeable future and a guarantee that you will not be held financially liable if an unexpected event were to occur.

    Claim No. 1

    While working on a home renovation, thieves can manage to gain access to a construction site after hours. The following day, your team and yourself may discover that on-site materials and equipment have been stolen. In this scenario, possessing a builder’s risk (course of construction) insurance would cover the costs of replacing the stolen items.

    Claim No. 2

    During the construction of a commercial property, a fire unexpectedly breaks out due to faulty wiring. The aftermath of this accident caused severe damage to the property and some materials on-site. A builder’s risk (course of construction) insurance would cover the additional repair and replacement expenses and ensure you won’t pay out-of-pocket.

    Claim No. 3

    For larger construction projects, most materials are stored at an off-site location. Unfortunately, torrential rain storms can cause mass flooding to occur in an area, and your entire storage unit can flood. Fortunately, a builder’s risk (course of construction) insurance will absorb the costs to replace the damaged materials.

    Commonly Asked Questions About Builder’s Risk (Course of Construction) Insurance

    As a contractor, your clients have entrusted you with their property and expect that you will be able to meet the agreed-upon terms of your drafted contract. By signing an agreement, you automatically become liable for any unforeseen issues that may arise during the design or building period. Without appropriate insurance, this poses a financial risk to both you and your company.   To legally work, most places of residency typically require contractors to possess builder’s risk insurance. Though mandatory, it’s still crucial that contractors obtain a solid insurance policy that would permit them to work and provide them with adequate protection against financial loss due to damages caused by covered perils.   A contractor may be responsible for any property damage or loss caused to a client’s property, regardless of who or what perpetrated the liable act. Depending on the extent of financial loss, this situation can be rather costly and potentially detrimental to a contractor’s career. In this instance, possessing appropriate insurance is vital for a contractor’s business to remain financially protected and secure.

    Although the details of a construction project are outlined within an agreement, this doesn’t guarantee that an unexpected event won’t occur throughout the process. In the event of a peril, if its impact ever damages your construction materials, then you will be held financially responsible for any repairs or replacements. However, without builder’s risk insurance, these additional expenses will be costly and potentially detrimental to you and your business’ future.   Every place of residency enforces some form of health and safety protocols that builders are required to follow. However, this doesn’t ensure that accidents within your construction site won’t occur. When working in this industry, there is an increased risk of hazards resulting in consequences like property damage. So, whether a building suffers a fire due to faulty wiring or water damage from a flood, you will always be held financially liable and forced to pay the sum of damages.   If not properly secured, your construction site may also be susceptible to theft and vandalism. You will be held responsible for losses that occur in these kinds of situations, and crimes as such could potentially impact the completion of your project and could set you back financially. In the end, this would undoubtedly affect your ability to make a profit.

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    © 2024 APOLLO Insurance Solutions Ltd.

    111 Water Street, Unit 210, Vancouver, British Columbia, V6B 1A7

    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.