Get Builders Risk Insurance in Ontario

How To Find Builders Risk And Construction Insurance in Ontario

Well-built is what you aspire to deliver. It’s the same for us when it comes to finding you insurance coverage. In other words, we work hard to deliver builders risk insurance options as well as value to Ontario businesses.

But getting the best coverage isn’t easy. With larger and denser buildings going up, especially in the GTA, who is placing the coverage is vitally important. More specifically, “is it the developer, the general contractor, a private real estate mogul, someone else?”1 The risks each face are different and may also involve more litigious environments.

Meanwhile, “another consideration is the design or latent aspect after the project is complete.”2 For example, “a client with a building that’s completed in 12 months and sold will require a different approach than a real estate investment trust company that plans to not sell the building for 20 years.”3

When looking at how the Canadian market is changing for builders risk insurance, a construction and surety expert sees key differences. They note that construction “isn’t what it used to be 20 years ago or even 10 years ago. There used to be lots of domestic capacity, but now there are fewer insurance players in the game.”4

Likewise, insurance companies, “are looking for more information about risks associated with where developers are building, primarily in areas with a high flood risk.”5 We know that a well-built builders risk policy involves more than just the right coverages, it also involves risk management. And this is why we work with more than 65 top insurance companies in Canada, so we can find the hard-to-find solutions.

Our Ontario insurance brokers deliver business insurance solutions and well-built coverage. Together, we align options, choice and value for ON builders.

Breaking ground across Toronto, the GTA and Ontario? Why builders risk is essential

Growing demand for new builds. New home construction is on the rise in Canada. In fact, the Canada Mortgage and Housing Corp notes the highest level of housing starts since 2007. Furthermore, a CBC News article notes, “Quebec and Ontario cities led the country in terms of the volume of new homes under construction, with levels jumping 18 per cent and 32 per cent, respectively, compared to August 2019.”6

More specifically, when there’s more demand for new builds in Ontario, there’s a similar increase in demand for builders risk insurance.

Embarking on a new build or reno? Builders risk insurance is what’s needed to cover your property exposures during the construction period. This time period can also include building that is related to repairs and/or renovations.

DYK? If major renovations or construction done to a building is above a certain threshold and/or not fully disclosed to the property insurer, most commercial property policies will null and void or exclude coverage.

This is because when buildings are renovated and/or repaired and/or constructed there are additional risks to this work that a typical property policy isn’t designed to cover.

However, builders’ risk insurance is specifically designed to fill this gap. An ALIGNED broker can help you get the choice and value you need for your building projects in Toronto, the GTA and across the province.

From start to finish. How builders risk insurance works

Simply put, builders’ risk covers the course of construction, repairs or renovations to a building. However, the start of builders’ risk insurance coverage is an issue that is often overlooked. This is because the so-called “start” may differ in the minds of the businesses and individuals involved as well as in the project components.

For instance:

  • A lender may specify a project inception date in a construction loan
  • Contracts typically require that building construction insurance be in place for the duration of the entire period specified in the contract
  • Restrictions may be in your construction insurance – restrictions that specifically relate to when coverage begins

In addition, the end date for a builders’ risk insurance policy may also come into question. This is because construction insurance policies contain what are known as provisions.

For example:

  • There may be a provision that the insurance ends when your interest in the property ceases
  • The insurance may end when the property is accepted by the purchaser
  • Or the policy expires and/or is cancelled.

Due to the complexity of builders risk insurance, working with a knowledgeable Ontario brokers is an important first step in getting the best options.

During changing times, it’s important to know that the insurance team you work with understands your industry. ALIGNED Insurance brokers across Canada focus exclusively on aligning commercial insurance options for business only. If you are looking for builders risk in Ontario, we are the experts who deliver choice and value.

Start your builders risk quote now!

  1. Just complete the attached Builders Risk insurance application. This application is quick to fill out and our insurance brokers who specialize in builders risk insurance are available to answer any questions you may have about the form.
  2. Email your completed form to or directly to one of our many expert Canadian insurance brokers.  We’ll get back to you quickly with options. 

Work with us to get your next build projects covered

We have solutions for your builders risk insurance needs. Here are some types of projects we can get aligned with coverage:

  • Commercial Builders
  • Custom Homes
  • Blanket Builders Risk Insurance for Subdivisions
  • Builders Risk Insurance for Renovation Projects (including Heritage Buildings)
  • Log Homes

Don’t see your project on the list above?

Contact an Ontario ALIGNED Insurance broker to discuss your building project and learn about builders risk options we can get aligned for your business now.

We’re solid. Read what our clients have to say about us

There are many reasons why people are writing positive Google reviews about ALIGNED Insurance. Above all, recommendations mean that the support we deliver, the insights we provide and the products we offer are making a difference. We are proud to work in alignment with so many Ontario clients.

Here are a few recent Google reviews from Ontario clients:

  • “We have had 3 properties insured by ALIGNED and never had an issue.” – ALIGNED Cambridge client
  • “The staff at ALIGNED were very helpful in outlining insurance options to meet my needs at very competitive prices. Great attentive service!” – ALIGNED Toronto client
  • “Great experience, the people are very knowledgeable, friendly and they have very comparable pricing! Highly recommend them!!” – ALIGNED Toronto client
  • “We insured 2 business and 1 property in Toronto through aligned and everything was smooth and very expedient” – ALIGNED Toronto client
  • “We had both our locations insured through the Aligned team and we were really happy with the price and the speed in which they respond and finalize the deal.” – ALIGNED Cambridge client
  • “What a refreshing change to deal with such a personable and professional team at Aligned. Finally a company who really does care and want to make a difference in the industry by delivering best in class options and service levels that exceed expectations. Great job Team Aligned !!!!” – ALIGNED Cambridge client

Every day, we work hard to deliver a different business insurance experience to every single client we support across Canada. It’s why we’re proud to do what we say we are going to do when we say we are going to do it. 

Reviews matter and when a client writes a Google review about our Toronto, Cambridge, Calgary or Vancouver office, we know we’re consistently exceeding expectations.

Source(s):1,2,3,4 Why the status quo can be dangerous in the construction insurance world ;  5 What’s unique to this hardened real estate insurance market ; 6 New home construction picked up the pace in August as builders started up again ;

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