Dedicated Insurance Advisors
Work directly with licensed Ontario insurance professionals who understand your industry and local market
When do I need builder's risk vs home insurance?
You typically need builder's risk when you are doing a major renovation, the home is vacant or under construction, or your home policy excludes or limits coverage during renovation. The checker helps you see which situation applies.
What does builder's risk cover?
Builder's risk insurance usually covers the structure and materials on site during construction or renovation, including theft, fire, and weather, up to the project value. It does not replace home insurance for the rest of your property.
Will my home insurance cover renovations?
Many home policies limit or exclude coverage during major renovations, or when the dwelling is vacant. You must disclose renovation plans to your insurer; they may require builder's risk or an endorsement.
How long do I need builder's risk?
You need builder's risk from project start until the project is complete and often until the structure is re-occupied or handed over. Your broker can help you set the policy term to match your timeline.
What if I am the owner and not the contractor?
As owner, you can still need builder's risk: either you buy it or the contractor does, and it should name you as appropriate. If the contractor has a policy, confirm it covers your interest and the full project value.
