Business Insurance
Course of Construction Insurance
Course of Construction insurance (also called builder's risk, or construction insurance) covers your project while it's being built: the structure, the materials, and the soft costs that pile up if a loss delays completion. We're commercial construction specialists in Edmonton and Calgary, placing coverage for the general contractors, developers, and owners behind everything from custom homes to major commercial and industrial builds across Alberta and Canada.
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Who we cover
Course of Construction is carried by whoever holds the risk of the project until it's finished, and that changes who's named on the policy. From a single Edmonton infill lot to a multi-province commercial build, we structure it around your project, your contract, and your lender's requirements, not a template.
- General contractors and construction managers
- Property developers and project owners
- Custom home builders and residential renovators
- Homeowners self-managing a build, addition, or major renovation
- Commercial, industrial, and institutional builders
- Multi-unit residential, condo, and mixed-use developments
- Edmonton and Calgary infill and secondary suite projects
- Owner-builders working under an Alberta owner-builder authorization
- Subcontractors and trades required to be named on project coverage
- Lenders requiring proof of coverage before releasing construction draws
What's typically included
A Course of Construction policy is property coverage for the project itself, separate from the commercial general liability your crews carry. Standard building and homeowner policies pause or exclude coverage once major construction starts, so COC fills that gap from groundbreaking to handover. The base form covers the work; the endorsements handle the costs that hurt most when a loss sets you back.
- The structure under construction, at every stage from foundation to finishing
- Building materials and supplies on site, in transit, and in temporary storage
- Fire, lightning, explosion, wind, and Alberta's frequent hail
- Theft and vandalism of materials, fixtures, and appliances before installation
- Water damage from burst lines or sprinkler discharge
- Temporary structures, scaffolding, hoarding, and formwork
- Debris removal after a covered loss
- Increased costs to rebuild damaged work to the current building code
- Soft costs by endorsement, covering loan interest, permits, and design fees
- Delay in start-up, covering lost income and carrying costs when a covered loss delays completion
- Equipment breakdown during testing and commissioning
- Existing structures on renovation and addition projects
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
What moves the premium
Course of Construction is rated on the project, not your annual revenue. The completed value, how you build, how long it takes, and where it sits are the big levers, and an open frame through an Alberta hail season is a real exposure underwriters price for. A well-documented, secured site quotes far better.
- Total completed value of the project (hard costs, plus soft costs if included)
- Construction type and materials, wood-frame vs. noncombustible
- Project duration and current stage of completion
- Location and exposure to Alberta hail, wildfire, and overland flood
- Site security, fencing, lighting, cameras, and material storage
- Builder and contractor experience and claims history
- Whether you add soft costs and delay in start-up coverage
- Deductibles, sublimits, and any flood or earthquake endorsements
- Partial occupancy during construction
Ready for a quote on course of construction insurance? Talk to a real broker who specializes in it.
Frequently Asked Questions
What does Course of Construction insurance cover?
Course of Construction (builder's risk) covers the project while it's being built: the structure, the materials, and, by endorsement, the soft costs and lost income if a covered loss delays you. Typical coverage includes:
- The building or structure under construction, at every stage
- Materials and supplies on site, in transit, and in temporary storage
- Fire, hail, wind, theft, vandalism, and water damage during the build
- Soft costs by endorsement, covering loan interest, permits, and design fees
- Delay in start-up, covering lost income and carrying costs after a covered loss
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
Course of Construction vs. construction insurance, what's the difference?
"Construction insurance" is the umbrella term for everything a project needs; Course of Construction is the property piece that insures the build itself. A complete program usually pairs a few policies:
- Course of Construction (builder's risk): the structure and materials during the build
- Commercial general liability (CGL): third-party injury and property damage; see our contractor insurance page
- Wrap-up liability: one liability policy covering every trade on a larger build
- Contractor's equipment and tools coverage: insured separately, not under COC
Who needs Course of Construction insurance, and does my lender require it?
Whoever carries the risk until handover buys it, and in practice the lender usually requires it before releasing construction draws. Most often that's:
- The project owner or developer
- The general contractor, when the contract assigns them the risk
- Homeowners and owner-builders managing their own build or major renovation
- Your lender, named as loss payee, before the first draw is advanced
How much does Course of Construction insurance cost?
Premiums are based on the project, not your revenue, so they scale with the completed value and the risk of the build. As a general rule of thumb, expect roughly 1% to 4% of the project's total value, moved up or down by:
- Construction type, wood-frame costs more than noncombustible
- Project length and the season you're exposed through (hail, winter)
- Location, site security, and claims history
- Whether you add soft costs, delay, flood, or earthquake coverage
What isn't covered by Course of Construction insurance?
Course of Construction is property coverage for the project itself, so a few things sit outside it and need their own policy:
- Third-party injury or property damage claims, which fall under commercial general liability (see our contractor insurance page)
- Your tools and equipment, insured under a contractor's equipment floater
- Faulty workmanship itself, though resulting damage to the rest of the project is typically covered
- Flood and earthquake, unless you add the endorsement
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
Still have questions? We'll quote it, explain it, and let you decide.
Construction projects we insure
From a single custom home to industrial and municipal builds, we place Course of Construction and broader construction insurance across the project types Alberta builds most. Some of what we cover:
- Custom Homes
- Single-Family Homes
- Duplexes
- Townhomes
- Multiplexes
- Infill & Secondary Suites
- Residential Subdivisions
- Multi-Family & Condos
- Show Homes & Spec Builds
- Commercial Buildings
- Industrial & Warehouse
- Tenant Improvements
- Renovations & Additions
- Mixed-Use Developments
- Institutional & Municipal
- Retail & Restaurant Builds
- Office & Commercial Interiors
- Modular & Prefab
- Acreage & Rural Builds
- Garages & Outbuildings
- Mechanical & Equipment Installations
Other Insurance We Offer
We're partners with over 120 Canadian insurance providers and cover the full range of personal and commercial insurance. If you need it, we likely write it.
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