Construction Insurance in Newmarket

Construction Insurance in Newmarket, Ontario, from Oracle RMS

At Oracle RMS, we understand that safeguarding your Mississauga construction or contracting business requires a customized approach. That’s why we provide commercial insurance coverage tailored to meet the unique needs of the construction industry.

Commercial General Liability Insurance

Commercial General Liability coverage protects against financial losses from injuries, property damage, or accidents on the job site. It covers legal fees, medical expenses, and repair costs if something goes wrong, ensuring both workers and employers are protected from significant financial burdens so they can focus on completing the job 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 reduce financial setbacks and keeping construction projects on track, even when unexpected damage occurs.

Business Interruption Coverage

This coverage helps protect against financial losses when work is interrupted by unexpected events like fires, storms, or other disasters. It covers lost income, rent, payroll, and other operating expenses during downtime, helping your business remain stable until you can resume work.

Commercial Auto Insurance

This insurance covers work-related vehicles like trucks, vans, and other construction vehicles. If an accident occurs, 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 essential for your job. If they’re lost, stolen, or damaged, it pays for repairs or replacements. This allows workers to get back to work quickly without worrying about costs and keeps projects on schedule and within budget.

Specialty Coverages for Newmarket Construction Businesses

At Oracle RMS, our standard contractor’s insurance policy covers a wide range of risks that local business owners face. However, some businesses may want to add additional coverage to enhance their commercial insurance for more comprehensive 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 always come first. With years of experience in the Newmarket construction insurance industry, we understand the unique challenges that construction workers and contractors in Newmarket face. That’s why we’ve developed customized insurance solutions tailored to your commercial and personal needs, addressing the specific risks that construction professionals encounter.

Get in touch with one of our licenced brokers at Oracle RMS today for a free insurance quote for construction insurance in Newmarket, Ontario, and experience our professional service for yourself. Let us handle the insurance details, so you can focus on your business.

FAQs

What types of risks are typically excluded from construction insurance policies?

Construction insurance usually excludes risks like wear and tear, intentional damage, and routine maintenance issues. It may also not cover certain natural disasters, such as earthquakes or floods, or issues like faulty workmanship unless you add on specific additional coverage.

Can construction insurance cover delays caused by weather or other unforeseen events?

Construction insurance often doesn’t cover delays due to weather or unforeseen events like strikes or supply chain issues. However, if you have business interruption coverage, it can help protect against financial losses caused by these types of delays.

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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