Construction Insurance in London

Construction Insurance in London, Ontario, from Oracle RMS

Oracle RMS understands that protecting your London construction companies requires a tailored approach. That’s why we offer customized contractor insurance in London, specifically designed to meet the unique needs of the construction industry.

Commercial General Liability Insurance

This insurance safeguards against financial losses from third-party injuries, property damage, or accidents on the job site. It can provide financial protection for legal fees, medical expenses, and repair costs if a worker causes harm, ensuring both workers and employers are protected from significant financial burdens so they can focus on completing projects safely.

Commercial Property Insurance

Property coverage protects buildings, equipment, and tools used on the job. It covers the cost of repairing or replacing items damaged by fire, theft, vandalism, or natural disasters, helping to minimize financial setbacks and keeping construction projects on track, even when unexpected damage occurs.

Business Interruption Coverage

This coverage protects against financial losses when work is disrupted by unexpected events like fires, storms, or other disasters. It covers lost income, rent, payroll, and other operating expenses during downtime, helping businesses stay stable until they can resume their projects.

Commercial Auto Insurance

This insurance covers work-related vehicles like trucks, vans, and other construction vehicles. In the event of an accident, it helps pay for damages, medical bills, and legal fees, protecting both the driver and the company from large financial losses and ensuring smooth business operations.

Tool and Equipment Insurance

This insurance covers the tools and equipment used on the job. If these items are lost, stolen, or damaged, it covers the cost of repair or replacement, allowing workers to return to work quickly without worrying about the expense, keeping projects on schedule and within budget.

Specialty Coverages for London Construction Businesses

At Oracle RMS, our standard contractor’s business insurance coverage addresses a broad range of risks for London business owners. Nonetheless, some businesses might opt to include additional coverage to enhance their commercial insurance protection for more thorough protection.

Errors and Omissions Insurance (E&O)

Also known as professional liability insurance, E&O Insurance shields contractors and construction companies from claims of negligence that result in financial loss.

Builders Risk Insurance

Also known as Course of Construction Insurance, Builders Risk Insurance covers projects during construction, whether it’s building a new home, renovating, or making repairs. It protects against risks like natural elements, theft, and vandalism.

Umbrella Liability Insurance

If the costs from accidents, injuries, or damages exceed the limits of regular insurance, umbrella insurance covers the additional expenses.

Installation Floater Insurance

Building materials are always at risk on the job site, during transit, or while being installed. If an accident happens, the contractor is responsible for the costs, even if they don’t own the materials.

Pollution Liability Insurance

Pollution Liability Insurance covers costs from unexpected accidental pollution that causes property damage or bodily injury or requires cleanup.

Partner With Oracle RMS for All Your Construction Insurance Needs

At Oracle RMS, our clients are at the center of everything we do. With years of experience in the London construction insurance industry, we truly understand the challenges that construction workers and contractors face in London. That’s why we’ve tailored our insurance solutions to address both your commercial and personal needs, focusing on the specific risks unique to construction professionals.

Reach out to one of our licensed brokers at Oracle RMS today for a free construction insurance quote in London, Ontario, and see our professional service in action. Let us handle the insurance details so you can focus on running your business.

FAQs

What are the policy limits and deductibles typically associated with construction insurance?

The specific limits and deductibles can vary depending on the policy and the level of coverage you choose. Higher limits provide more protection but usually come with higher premiums, while higher deductibles can lower your premium but mean more out-of-pocket costs if a claim is made.

How does course of construction insurance differ from permanent property insurance?

Course of construction insurance, also known as builder’s risk insurance, covers a building or structure while it’s being built. It protects against risks like fire, theft, and weather damage during the construction phase. Permanent property insurance, on the other hand, covers the building after construction is completed and it’s in use. This type of insurance protects against ongoing risks like fire, theft, and natural disasters once the building is occupied and operational.

The Right Coverage For You

At The Best Price

“I purchased my first car a year and a half ago and called Oracle for car insurance quotes. They have excellent customer service – in particular, Chris was very helpful in getting me a great rate. He is extremely prompt at answering any questions I have about my policy and about anything insurance related! I highly recommend this brokerage.”

Andrea Lee,
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