Wrap-up Liability Insurance
Your construction project deserves comprehensive protection.
We provide tailored advice and innovative risk-related solutions to ensure you have high quality, competitively priced wrap-up liability coverage for your next construction contract.
Your guide to wrap-up liability insurance.
Designed for construction projects of all sizes, this blanket liability coverage protects all parties involved in a construction project from liability arising from bodily injury or property damage to third parties during construction.
Wrap-up liability insurance can either be purchased by the contractor in charge of the project (contractor-controlled) or the owner of the property (owner-controlled).
Some advantages of Wrap-up liability include:
- A single policy that includes multiple coverages reduces the risk of having coverage gaps and insufficient limits.
- Cost savings, better protection and higher limits than purchasing multiple insurance coverages separately.
- Significant time savings compared to managing multiple liability policies of subcontractors.
- Simplifies the settlement of claims by eliminating lengthy litigation to establish blame.
Insured parties:
- Owners
- General contractor
- Project manager
- Sub-contractors
- Consultants, engineers and architects (subject to our professional liability exclusion).
Parties not insured:
- Suppliers
- Security protection firms
Supporting construction projects across Canada.
Get your wrap-up liability by phone or in person at your nearest location.
Common wrap-up liability coverages.
While coverage varies by project and location, your wrap-up liability policy will most likely include the following:
Course of Construction
Also known as builders risk insurance, this protects the property, building and materials over the course of a new construction or major renovation project. It helps provide protection for unexpected damages from fire, theft, vandalism and more.
Professional Liability Insurance
Also known as errors and omissions (E&O) insurance, this coverage helps protect your construction project from lawsuits arising from services or advice your team of contractors and subcontractors provides.
Commercial General Liability (CGL)
This important coverage can help cover injuries and property damage suffered by visitors to your construction site. It includes legal expenses in the event of a lawsuit.
Umbrella Liability Insurance
An umbrella policy can provide additional coverage limits over other liability policies, such as CGL and auto. It helps ensure you have adequate coverage for liability exposures on your construction project.
Multi-Project Coverage
We also offer multi-project blanket wrap-up liability policies that can give you predictability on budgets. Plus we’re often able to offer insurance for both the construction and operational phases of a project.
Why choose Acera Insurance for wrap-up liability?
Broad Expertise
With 60+ years of experience spanning commercial, residential and civil engineering projects, our expert team is comfortable providing insurance advice for new construction as well renovation work.
Flexible Coverage
Recognizing that no two projects have the same requirements, we offer an exceptionally flexible approach by tailoring wording, coverage and deductibles to your precise needs.
Highly Responsive
We recognize the crucial importance of rapid underwriting decisions for construction projects, large and small. Our experienced team is strongly committed to customer service and can respond quickly to any enquiry.
Helpful tips from our advisors.
Our dedicated advisors have the expertise to provide the right wrap-up coverage for your needs.
Answering your most common questions.
Why do I need wrap-up liability insurance?
There are a number of reasons why wrap-up liability is advantageous for businesses involved in construction projects. It’s crucial to consider the risks associated with your project and the impact that a sudden project stoppage or closure would have on your business. By purchasing wrap-up liability coverage, construction contractors, teams and owners will be protected from unexpected financial losses.
What are the differences between a contractor-controlled and owner-controlled wrap-up policy?
Whether the wrap-up liability policy is contractor-controlled or owner-controlled, it will typically provide the same protection. In some cases, a contractor-controlled policy may be more cost-effective and could have higher limits than an owner-controlled policy. When a policy is contractor-controlled, it may incentivize property owners to continue with the same contractor during the course of the project.
What’s the difference between wrap-up liability and commercial general liability?
While individual contractors likely have their own CGL coverage, wrap-up liability fills in the gaps, providing protection for all contractors and subcontractors involved on the project. Additionally, while wrap-up liability has a guaranteed protection amount, commercial general liability may run out following multiple claims.
How much does wrap-up liability insurance cost?
There are a variety of factors that determine the cost of your wrap-up liability insurance. The main one is the overall value of the project as higher-value projects often have more extensive coverage needs. There are also additional coverage endorsements available that can be added to a wrap-up liability policy such as environment coverage, which would increase the policy’s cost. Contact us to learn more.
Business insurance insights for your everyday.
-
Do I get to choose my own lawyer if I’m involved in a court case?
Generally you do not get to choose your own lawyer if you’re involved in a court case that’s covered by…
-
Liability Risks for Small Businesses in Alberta
In Alberta as in any other parts of country owning your own business is a dream come true for many.…
-
10 Ways to Protect Your Business from Liability Risks
A single lawsuit can sink a small business. Here are 10 ways to protect your business from liability risks: 1.…