When a contractor, tradesperson, or builder finishes a project, it’s easy to think the job is behind you. But claims don’t always work on your schedule. In fact, some of the most costly insurance claims can surface months or even years after the work is complete.
This is where completed operations liability insurance comes in. It protects against claims related to work you’ve already finished — significant in industries like construction, electrical, plumbing, or renovations, where defects or damages can emerge over time.
Why Completed Operations Coverage Matters
Imagine you installed a deck two years ago. Everything looked great when the job was done, but now a homeowner discovers structural issues that cause damage or injury. Even though the work was completed long ago, you could still be held responsible.
Without completed operations liability, you’d be left covering legal fees, settlements, or repair costs out of pocket. With it, you’ve got a safety net.
Common Examples of Claims
- A leaking pipe from a past plumbing job causes water damage.
- Electrical wiring from a renovation sparks a fire years later.
- Faulty installation of siding leads to property damage.
These are precisely the kinds of scenarios this coverage was designed for.
Staying Protected in Newfoundland and Labrador
Businesses here face unique challenges — harsh weather, varying building standards, and long-standing client relationships mean your work is always under the microscope. Completed operations liability ensures that your business isn’t jeopardized when the unexpected happens.
Working with a trusted insurance broker in Newfoundland and Labrador helps you tailor coverage to your trade, so you’re not left wondering whether yesterday’s work could hurt tomorrow’s business.
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About Wedgwood Insurance
Wedgwood Insurance has offices in St. John’s & Corner Brook and is Newfoundland & Labrador’s largest independent insurance broker. We provide straightforward home, auto & business insurance advice.
With over 350 Google My Business reviews, experience the Wedgwood difference with expert advice from our dedicated team. We ensure that every client has the coverage that best suits their needs through upfront complimentary consultations and midterm reviews.
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