A Construction Package covers the business operations of trade contractors including air conditioning, carpentry, electrical, gardening, landscaping, plumbing roofing, window cleaning and others. This package principally covers property and liabilities associated with contracting activities. Some of the coverages included in this package are for:
Equipment and tools for loss, destruction and damage while in transit or on any site.
Work materials carried with trades persons or used on a work site.
Office contents coverage including items such as office furniture, computers and supplies.
Accounts receivable due to loss or damage to records.
Tenant's legal liability covering for compensatory damages and defence costs arising from legal liability due to accidental property damages at premises of which you are a tenant.
Non-owned automobile liability covering legal liability to non-owned vehicle for your business. In addition this covers hired automobiles.
Commercial general liability covering compensatory damages and defence costs arising from contractual or legal liability for business activities and completed work anywhere in Canada.
Contractors' Equipment Floater is used to insure moveable equipment such as power shovels, drag lines, cranes, conveyors, power drills, concrete mixers, caterpillar tractors, engines and other equipment and machinery used in construction. This coverage may protect against broad risks or specific named perils.
Valuable Papers covers loss or destruction of valuable papers such as mortgage records, financial data, product specifications and merchandise records, customer lists, construction plans and blueprints, prescriptions and manuscripts. This coverage is part of a Commercial package.
Optional coverages include bonds, building coverage, builders risk, computer breakdown, crime coverages, customers property, installation floater, and others.
Builders Risk policy covers an entire building or other structure during the course of construction, including the building supplies and materials that will become part of the covered structure. The entity insured is usually the owner or the builder or perhaps both.
Installation Floater usually covers property installed at a work site by a particular contractor or subcontractor. The coverage normally applies while the property is in transit, in temporary storage, and during the installation and testing process.