Edmonton · General Contractors & Project Owners
Builders Insurance in Edmonton.
Coverage built for Edmonton general contractors, from the risks of the work to the exposures Edmonton businesses face.
Licensed Alberta brokerage · IBAA member · most general contractors bound in a few business days
Get your Edmonton project insurance quote
A few details is all we need. Your broker follows up personally, usually within one business day.
Course-of-construction insurance, also called builder's risk, protects a construction project while it is being built: the structure, the materials on site and in transit, and the temporary works, against fire, water, theft, vandalism, and weather. It usually sits alongside project (wrap-up) liability, soft-costs coverage, and equipment coverage. Whether you are the general contractor running the job or the owner financing the build, the project needs its own policy from the first load of fill to the day the keys change hands. Velocity arranges these on residential infill, multi-unit, and commercial builds, structured to satisfy your lender and your contract.
General contractors in Edmonton juggle multi-trade projects across the capital's commercial and institutional base, including health and government work, where contracts dictate liability limits, additional-insured wording, and course-of-construction cover. A hail season mid-build or a subcontractor's mistake is where a project's budget quietly turns into a claim, so wrap-up liability and builder's risk sized to the job matter more than an off-the-shelf package.
A builder's risk program is built around course-of-construction coverage on the project itself, wrap-up liability for everyone on site, soft-costs coverage for delay-related losses, and equipment coverage for what you bring to the job.
Risks Edmonton general contractors face.
These exposures come with the work, and in Edmonton the local risks sit on top. A generic small-business policy rarely answers all of them.
Fire and water damage to the structure
Hot work, temporary heating, exposed framing, and unfinished roofs make construction sites uniquely vulnerable to fire and water loss. A single incident can wipe out months of progress and trigger schedule penalties.
Theft of materials and fixtures
Lumber, copper, appliances, HVAC units, and millwork are all targets. Material delivered just before it is installed is often stolen the night it arrives, and course-of-construction coverage follows it on site and on the way there.
Vandalism and trespassing
Open sites attract more than thieves. Graffiti, broken windows, and intentional damage from unauthorised entry can mean costly repairs and delays.
Severe weather and natural events
Wind, hail, flooding, and freeze damage hit unfinished structures harder than completed ones, and Alberta sees all four. Without course-of-construction coverage, the project absorbs the loss.
Soft costs and delay-related losses
A covered loss does more than damage the building. It pushes back occupancy, extends financing interest, racks up additional permit and design fees, and can push a project past its delivery date.
Gaps between the trades on site
Every sub on site brings their own coverage, their own exclusions, and their own limits. A single uninsured sub can leave the owner or general contractor holding a claim that should never have been theirs.
Severe summer storms and hail
Central Alberta sits in one of Canada’s most active hail corridors, and Edmonton sees damaging summer thunderstorms, wind, and hail most years. The August 2019 Edmonton-area hailstorm caused about $90 million in insured damage, with grapefruit-sized stones and winds near 91 km/h. Roofs, signage, fleet vehicles, and stock are the common losses, which is why property and equipment coverage matter here.
Winter freeze and water damage
Long, cold winters make frozen and burst pipes, ice damming, and roof-load a real exposure for Edmonton commercial buildings. The January 2024 cold snap held Edmonton at -40 to -45°C for four straight days, and burst pipes are among the most frequent commercial property claims that follow. Sewer-backup and overland-water endorsements are worth confirming.
The Protection
Coverages we recommend.
Course of Construction (Builder's Risk)
Can cover the project itself while it goes up: the structure under construction, materials on site, materials on the way to it, and temporary works, against fire, water, theft, and weather. The single most important policy for any active build.
Wrap-Up (Project) Liability
A single liability policy that covers the project owner, the general contractor, and all the sub-trades together for one defined project. It closes the gaps between everyone's individual policies and simplifies who responds when a third party is injured or their property is damaged on site.
Soft Costs Coverage
Can pick up the indirect costs a covered loss creates: extra loan interest, additional design and permit fees, lost rent, marketing, and higher insurance costs that follow a major delay.
Contractors Equipment
Can protect the cranes, lifts, generators, scaffolding, and tools the build depends on, against theft, damage, and breakdown, on site and in transit.
Commercial General Liability
Can protect the general contractor and the project entity against injury or property-damage claims from a third party arising from the work and the site itself, with coverage that survives handover.
Coverages shown are general examples, not a description of any specific policy. Policy coverages widely vary and should be confirmed with your broker.
How Pricing Works
What drives your premium
- Total project valueCourse-of-construction limits are set to the completed value of the build, so a larger hard-cost budget means more value at risk and a higher premium.
- Construction type & materialsA wood-frame build carries more fire and water exposure than a non-combustible steel or concrete structure, so how the project is built moves the price.
- Project durationA longer build spends more time exposed to fire, theft, and Alberta weather, so a schedule measured in years costs more to cover than a short one.
- Site security & risk controlsFencing, hoarding, lighting, alarms, and after-hours monitoring reduce theft and vandalism losses, and a well-secured site earns a better rate.
- Soft costs & delay coverageAdding coverage for extra loan interest, design and permit fees, and lost rent after a delay broadens the policy and raises the premium.
- Coverage limits & deductiblesHigher limits cost more; a higher deductible lowers the premium but raises your share of a claim.
- Your Edmonton locationYour neighbourhood, the building you occupy, and the local exposures Edmonton sees factor into the property side of your premium.
Common Questions
Questions ownersactually ask.
If my sub-trades all carry their own insurance, do I still need builder's risk?
Yes. A sub-trade's liability policy covers claims arising from their work, not physical damage to the building under construction. Course-of-construction (builder's risk) is the only policy that pays to repair or rebuild the project itself if fire, water, theft, or weather damages it before handover. The two do different jobs, and a project needs both.
Does a new build in Alberta need a home warranty?
For new homes, yes. Under Alberta's New Home Buyer Protection Act, new home warranty coverage is required on any home whose building permit was applied for on or after February 1, 2014, and the builder must enrol the home and hold a valid residential builder licence. A warranty is not insurance on the build: it protects the future buyer, while course-of-construction insurance protects the structure and materials during construction.
What's the difference between course-of-construction and wrap-up liability?
Course-of-construction is property coverage: it pays for physical damage to the project. Wrap-up liability is liability coverage: it responds when someone is injured or a third party's property is damaged because of the project, under a single policy that covers the owner, the general contractor, and the sub-trades together. Most active builds carry both.
Should the owner or the general contractor buy the course-of-construction policy?
Either can, and the contract or lender usually decides. What matters is that the policy names the right parties, the owner, the general contractor, and often the lender, so everyone with a financial stake in the build is protected and no one is left arguing over who should have insured it.
What are soft costs, and are they covered?
Soft costs are the indirect losses a delay creates after a covered event: extra loan interest, additional design and permit fees, lost rent, and marketing. They are not covered by the base builder's risk policy but can be added through a soft-costs extension, sized to your project budget and schedule.
Should I check my subcontractors' insurance before I hire them?
Yes. Before you sign and before you release payment, get proof that each sub-trade carries their own coverage. An uninsured sub can leave you holding a claim that should have been theirs, so a quick paperwork check up front protects the whole project.
How long does course-of-construction coverage last?
It runs from the start of construction until the project reaches substantial completion, occupancy, or handover, whichever your policy specifies. Because the value at risk grows every week as the build takes shape, the limit needs to reflect the completed value, not the value on day one.
How much does project insurance cost in Edmonton?
There is no flat rate. Your premium depends on the work you do, your revenue, your Edmonton location, and your claims history, and higher-risk work costs more to insure. We price it around how you operate rather than a one-size quote, and most general contractors go from first conversation to bound coverage within a few business days.
How much does commercial insurance cost in Edmonton?
There is no flat rate. Premium depends on your industry, revenue, payroll, claims history, and the coverage limits your leases or contracts require. A small office or retail store carries a very different premium than a contractor or a property portfolio. We price it to how your business runs in Edmonton and explain what is driving the number.
What insurance do most Edmonton businesses need?
Most start with commercial property for the building, stock, and equipment, and commercial general liability for third-party injury and property damage. From there it depends on the trade: vehicles add commercial auto, contractors add tool and equipment coverage, retailers and offices add crime and cyber, and landlords add loss of rental income. We build the mix around your operation.
Are you a local Edmonton insurance broker?
Yes. Velocity is an Edmonton-based brokerage serving businesses across the region and the wider province. You work directly with a broker who knows the local market rather than a call centre.
Protect your Edmonton project.
Tell us how your project operates and we'll build coverage around the work you do and the risks Edmonton sees. Most general contractors are bound within a few business days.
Not ready to switch? Book a 15-minute coverage review instead