What is builders risk insurance Ontario
Builders risk insurance, also known as construction insurance, is a type of insurance that protects against losses or damages to a construction project during the building process. This can include damage from natural disasters, theft, vandalism, and other unforeseen events.
In Ontario, builders risk insurance is typically required for any construction project that is valued at over $100,000, and it is typically purchased by the owner of the property or the general contractor. This insurance can provide coverage for the materials, labor, and equipment used in the construction process, as well as any temporary structures that are built on the property.