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Builders Risk Insurance in St. John’s, Corner Brook and throughout Newfoundland.

Did you know you can protect your properties even before they are finished being built? Builders risk insurance protects from risks like fire, theft and more.

Protect Your Investment Before Construction is Complete

Builders risk insurance safeguards your property during the critical construction phase, protecting against risks like fire, theft, and more. This specialized property insurance covers your project from start to finish, offering peace of mind while your property is under construction.

What Is Builders Risk Insurance?

Builders risk insurance is designed to cover properties still under construction. While property owners can take out this policy, it’s more common for contractors to be required to hold this coverage as a part of the project agreement. Key coverage areas include damages from fire, theft, vandalism (excluding employee-caused incidents), and damage from vehicles or aircraft.

Policies are often set based on a percentage of the total construction budget to ensure adequate coverage. Reviewing your policy duration is essential, as most plans have limits on extending the construction timeline.

Understand What Builders Risk Insurance Doesn’t Cover

While builders risk insurance offers broad protection, there are exclusions to be aware of. For example, unless explicitly stated in your policy, coverage typically doesn’t include increased risks such as flooding in coastal areas or earthquakes near fault lines. Additionally, injuries sustained by workers are not covered under this policy—you’ll still need workers’ compensation insurance as required by law.

Get a Quote for Builders Risk Insurance Today

If you want to protect your construction project in St. John’s, Corner Brook, or anywhere in Newfoundland, our team can help you find the right builders risk insurance policy. Contact us today to get started with a customized quote.

Let’s discuss your builders risk insurance.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate builders risk insurance solution. There’s no obligation, just good-old-fashioned advice.
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Wedgwood Insurance offers comprehensive builders risk insurance in St. John’s, Corner Brook, and throughout Newfoundland. For more information on building in Newfoundland & Labrador, find a member of the Newfoundland & Labrador Construction Association.
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