Construction Insurance in Richmond Hill

Construction Insurance from Oracle RMS in Richmond Hill, Ontario

At Oracle RMS, we offer construction and contractor insurance coverage that we tailor to meet the specific needs of Richmond Hill’s construction industry.

Commercial General Liability Insurance

Commercial General Liability coverage protects against financial losses from third-party bodily injury, 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 Insurance

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. It pays for repairs or replacements if lost, stolen, or damaged. This allows workers to get back to work quickly without worrying about costs and keeps building projects on schedule and within budget.

Specialty Coverages for Ottawa Construction Workers

For even more thorough protection, you can always add extra coverage to enhance your business insurance. Here are some additional coverage options that we recommend for your construction or contracting business:

Professional Liability Insurance

Professional Liability Coverage, also known as Errors and Omissions (E&O) Insurance, protects contractors and construction companies from claims of negligence that lead to financial loss. If a third party suffers a financial loss due to negligence, faulty products, or mistakes, this insurance covers settlement costs if a lawsuit is successful, filling in gaps that general liability insurance doesn’t cover.

Builders Risk Insurance

Also known as Course of Construction Insurance, Builders Risk Insurance protects projects while they’re under construction, whether you’re building a new home, renovating, or making repairs. It covers risks like natural disasters, theft, and vandalism.

Umbrella Liability Insurance

Umbrella Liability Insurance provides extra protection beyond standard policies. If the costs from accidents, injuries, or damages exceed the limits of regular insurance, umbrella insurance covers the additional expenses, ensuring that workers and employers are shielded from significant financial losses.

Installation Floater Insurance

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

Pollution Liability Insurance

Pollution Liability Insurance covers costs related to accidental pollution that results in property damage, bodily injury, or requires cleanup. In Canada, companies can face fines of $100,000 or more for breaking environmental protection laws, and this insurance helps protect against those expenses.

Partner With Oracle RMS for All Your Construction Insurance Needs

Oracle RMS has years of experience with construction and contractors insurance in Richmond Hill, so we understand the unique challenges construction workers and contractors face. That’s why we’ve teamed up with top insurance companies in Ottawa to create customized solutions tailored to your specific needs and the risks you encounter.

Get in touch with Oracle RMS today for a free construction insurance quote in Richmond Hill, Ontario. We’ll handle all the insurance details so you can concentrate on running your business. And if you need home or auto insurance, we can help with that too!

FAQs

What is wrap-up liability insurance, and when is it needed?

Wrap-up insurance is a comprehensive policy that provides liability coverage for most, if not all, members of a construction team working on large projects, all under one policy instead of each subcontractor needing their own. It’s typically needed for large projects where many different companies and trades are involved.

Are subcontractors required to have their own construction insurance?

Yes, typically, subcontractors are responsible for their own liability risks.

How does construction insurance handle claims for defective workmanship?

Defective workmanship claims usually aren’t covered by standard construction insurance policies. However, if you have Professional Liability insurance, it can help cover claims related to faulty work. It can help with the costs of repairs, legal fees, and settlements if your work is found to be defective.

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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