Protect Your Construction Investment from the Ground Up
Every build starts with a vision, but without the proper protection, that vision can quickly turn into a costly liability. Whether you’re constructing a new commercial space, renovating a heritage home, or managing a major remodeling project, Builder’s Risk Insurance in Ontario is crucial to protect your investment.
At ONA, we understand the unique risks associated with building projects, and we’re here to provide tailored coverage that safeguards your structure, materials, and peace of mind.
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Builder's Risk Insurance
- Fire
- Theft and vandalism
- Wind, hail, or other weather-related events
- Material and equipment damage
- On-site accidents (non-liability related)
What Does Builder's Risk Insurance Cover?
Coverage for Your Structure and Materials
This coverage includes buildings under construction, including homes, condos, and commercial properties. But it goes beyond the buildings to cover on-site materials, supplies, equipment, temporary structures like scaffolding and fencing, and fixtures awaiting installation, like HVAC systems, cabinets and windows.
Coverage Against Common Risks
Structures under construction are vulnerable to risk like fire, lightning, theft, vandalism, water damage from storms or burst pipes, wind or hail damage, and accidental damage during the construction process.
Optional Add-Ons for Greater Protection
Optional add-ons can provide coverage for the unexpected, like business interruption, loss of rental income, equipment breakdown, and more.
ONA works closely with you to ensure your policy aligns with the size and scope of your project, with no gaps or surprises.
Who Needs Builder's Risk Insurance?
If you’re involved in a construction or a major renovation project, insurance is essential protection, and it’s not just for builders. Builder’s risk coverage is designed for anyone with a financial stake in a project, including:
Property owners
General contractors
Developers
Subcontractors
House flippers
Commercial property investors
Whether you’re constructing a new residential home, upgrading a commercial building, or managing a multi-phase development, builders risk policy insurance helps ensure that unforeseen events don’t derail your timeline or your budget.
At ONA, we offer builder’s risk insurance coverage across Ontario, from downtown Ottawa infill projects to rural builds and seasonal property developments. No matter the scale or location of your construction, we’ll help you find the right coverage to protect what you’re building.
Why You Need Builder's Risk Insurance in Ontario
Construction is an inherently risky business, especially in Ontario, where unpredictable weather, material shortages, and increased theft can all impact your build.
A single incident, such as a fire, windstorm, or vandalism, can delay progress, increase costs, and jeopardize your entire investment.
To make matters more complicated, most standard property insurance policies won’t cover buildings that are under construction, being remodelled, or significantly renovated. That means your project could be left financially vulnerable at its most vulnerable point. Builder’s risk insurance fills this gap.
It provides tailored protection for everything from framing and roofing materials to partially completed structures, tools, and even temporary installations, such as scaffolding.
It’s essential to meet lender requirements and ensure compliance, as this is vital for achieving true peace of mind. With builders risk insurance in place, you can move forward with confidence, knowing that unexpected setbacks won’t threaten your timeline or budget.
Builder's Risk Insurance vs. Liability Insurance
It’s essential to understand that builder’s risk insurance differs from contractor liability coverage.
Liability insurance protects against claims for bodily injury and third-party property damage. Builders risk coverage, on the other hand, protects the physical project itself from direct damage.
Ideally, your construction site should be covered by both.
If construction is your business, it may be necessary to consider small business insurance to ensure you are protected. You know to protect your structures and equipment, but what about your business operations?
ONA can work with you to ensure you have the proper protections in place so both your building project and your business are covered.
Why Choose Oegema, Nicholson & Associates for Builder's Risk Insurance?
At ONA, we understand that no two builds are the same. Our team takes the time to understand your goals and tailor a policy that truly fits.
For over 50 years, we have proudly supplied Eastern Ontario and Western Quebec with the insurance coverage they need to live and work in a way that suits their needs and lifestyle.
As members of the community, we understand the unique challenges of the region, offering comprehensive coverage and friendly, knowledgeable service.
Our brokerage team can create the perfect level of coverage. We compare rates and coverages from Canada’s top insurers to find the best-fit builder’s risk policy for your needs and budget.
When building from the ground up, you need a partner who protects you every step of the way.
That’s the Oegema, Nicholson & Associates difference. Let us help you safeguard your investment and stay focused on what matters: bringing your vision to life.
What Our Clients Are Saying
Real stories from people who trust
Oegema, Nicholson & Associates Insurance
“One call to Oegema, Nicholson & Associates is all it took. After our basement flooded, within a day or two they had a crew cleaning everything up, taking down the drywall and itemizing everything to be cleaned, thrown out or restored. They had everything in place for us in a timely manner and were extremely patient with me as they talked me through the process and waited for me to make decisions.”
Jennifer Parks, Stittsville, Ontario
“I’ve been dealing with ONA for over 20 years with my personal insurance, as well as our commercial insurance, and I know I can rely on them for great customer service, and prompt responses. I feel confident not only referring them to my employees, but to our customers as well.”
Charlene Brunet, Butler Group of Company
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