🏗️ Builders Risk / Course of Construction in British Columbia 🇨🇦
Every construction project carries risk—whether it’s a custom home in Vancouver, a commercial build in Kelowna, or an infrastructure project in northern BC. While general liability insurance protects against third-party claims, it doesn’t cover damage to the project itself during construction. That’s where Builders Risk Insurance (also known as Course of Construction Insurance) comes in.
⚡ What It Covers
- Property Damage 🏢: Protection for the structure under construction against fire, theft, vandalism, or storm damage.
- Materials & Equipment 🔧: Coverage for items stored on-site, in transit, or temporarily off-site.
- Soft Costs 💰: Some policies extend to expenses such as additional financing, design fees, or permits if a delay occurs following a loss.
📌 Example Scenarios
- A fire damages framing materials stored on-site.
- Severe windstorms cause structural damage mid-project.
- Theft of tools or equipment results in costly project delays.
❌ What It Doesn’t Cover
- Normal wear and tear or faulty workmanship 🚫
- Contractor liability (covered under Commercial General Liability policies)
- Employee dishonesty or intentional damage
✅ Why It Matters in BC
British Columbia’s diverse geography and climate—ranging from coastal storms 🌧️ to wildfire risks 🔥—make Builders Risk coverage an essential safeguard. Without it, a single incident could derail timelines and strain budgets.
👉 If you’re an owner, developer, or contractor in BC, ensure your next project has Builders Risk coverage in place before breaking ground.
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