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Oracle RMS Insurance

Construction Insurance

Industry Insurance — Oracle RMS Insurance

Construction Insurance

Comprehensive insurance for construction companies, developers, and project owners across Canada.

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Construction is one of the most complex and high-risk industries to insure. Projects involve multiple parties, significant property values, skilled and unskilled labour, heavy equipment, and evolving exposures as a project progresses from groundbreaking to occupancy. Oracle RMS works with construction companies, developers, and project owners to build insurance programs that address every phase of the project lifecycle — from pre-construction bonding to completed operations liability.

Who needs this coverage?

General contractors, construction managers, developers, project owners, and specialty subcontractors of all sizes. Whether you are building a single-family home, a commercial complex, or a major infrastructure project, a properly structured construction insurance program is essential.

Key coverages

  • Builder's risk / course of construction
  • Commercial general liability
  • Surety bonds (bid, performance, payment)
  • Commercial auto and equipment
  • Contractor pollution liability
  • Professional liability (design-build)
  • Wrap-up liability (OCIP/CCIP)
  • Workers' compensation / WSIB
  • Tools and equipment floater
  • Completed operations liability

Frequently Asked Questions

What insurance does a general contractor need in Canada?
At minimum, a general contractor needs commercial general liability insurance. Most projects also require builder's risk coverage, surety bonds, commercial auto, and tools and equipment coverage. Larger projects may require wrap-up liability programs.
What is the difference between builder's risk and CGL for construction?
Builder's risk covers physical damage to the project under construction — the structure, materials, and equipment on site. CGL covers third-party bodily injury and property damage claims arising from your construction operations. Both are needed on virtually every project.
What is a wrap-up liability program?
A wrap-up (OCIP or CCIP) is a single liability policy that covers all contractors and subcontractors on a specific project under one program. It eliminates coverage gaps between parties and is common on large commercial and infrastructure projects.
Do subcontractors need their own insurance?
Yes. Subcontractors should carry their own CGL, commercial auto, and tools coverage. General contractors should require certificates of insurance from all subs and ensure they are named as additional insureds on the sub's policy.
How are construction insurance premiums calculated?
Premiums are based on the type of construction, project value, annual revenue, payroll, claims history, and the specific coverages required. Builder's risk premiums are typically a percentage of the completed project value.

Ready to review your coverage?

Speak with a licensed broker at Oracle RMS — by phone, video, or in person. We serve businesses across Canada.*

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* Commercial insurance services available across Canada, excluding Quebec.