👷 Contractors: Wrap-Up vs. Project-Specific Liability 🏗️🇨🇦

In British Columbia’s fast-paced construction industry, liability insurance isn’t optional—it’s essential. One common question contractors face is whether to arrange coverage through a Wrap-Up Liability Policy or a Project-Specific Liability Policy. Both provide protection, but they operate differently.

---

⚡ Wrap-Up Liability

• A single policy that covers all parties involved in a project—owners, general contractors, and subcontractors.
• Reduces gaps and overlaps by centralizing liability protection.
• Typically required for large-scale projects such as condominiums, infrastructure builds, or public works.
• Covers third-party injury or property damage during the course of construction.

---

🛠️ Project-Specific Liability

• Purchased by an individual contractor for their role in a particular project.
• Coverage is limited to that contractor’s operations and does not extend to others on site.
• More common for smaller projects or trades where a full wrap-up policy isn’t practical.

---

📌 Why It Matters in BC

Construction projects often involve multiple stakeholders. Without a wrap-up policy, disputes between insurers can delay claims. On the other hand, for small renovations or single-trade work, a project-specific policy may provide sufficient coverage.

---

✅ The Takeaway

• Wrap-Up = Broad, collective protection for major projects
• Project-Specific = Individual coverage for smaller jobs

👉 If you’re bidding on projects in BC, be clear on which coverage is required—and make sure your role is fully insured.

#ConstructionInsurance #WrapUpLiability #ProjectSpecificLiability #BritishColumbia #ContractorsBC #RiskManagement #InsuranceCanada #harpreetsingh