Construction insurance is designed for contractors, builders, and trades professionals facing on-site risks daily. With over 415,000 construction business establishments in Canada, specialized coverage addresses equipment damage, worker injuries, project delays, and third-party liability to keep projects moving forward safely.
The construction industry is the backbone of infrastructure and development, encompassing everything from residential builds to large-scale commercial and industrial projects.
Construction insurance is essential to protect against accidents, property damage, delays, legal claims, and financial losses. At Oracle RMS, we’re helping business owners operate confidently and meet regulatory and contractual requirements.
Oracle RMS understands the demanding nature of construction work and the importance of having the right coverage in place before issues arise. Contact Oracle RMS today to speak with a broker or complete our quote form to get started.
At a minimum, Ontario contractors typically need commercial general liability (CGL), commercial auto, and tools and equipment coverage. Depending on the trade and project requirements, you may also need builder’s risk, wrap-up liability, professional liability, umbrella coverage, and surety bonds.
Builder’s risk insurance covers a building under construction or renovation against damage from fire, wind, theft, vandalism, and other perils during the construction period. It typically covers the structure, materials on site, and materials in transit to the site.
Generally, no. Your CGL policy covers your own employees, not subcontractors. Subcontractors should carry their own insurance, and you should obtain certificates of insurance from them before they begin work on your projects. You may also require to be named as an additional insured on their policies.
A wrap-up is a single, project-specific liability policy that covers all parties involved in a construction project, including the owner, general contractor, and subcontractors. It provides consistent coverage limits, reduces gaps, and simplifies insurance management for large or complex projects.
Bonding is often required on public sector projects and some private contracts. Bid bonds, performance bonds, and payment bonds demonstrate financial credibility and can give you a competitive advantage. Oracle RMS has surety specialists who can help establish and maintain your bonding facility.
