Insurance designed for residential homebuilders

Our residential homebuilders insurance can help protect you from the unique risks that come with building residential homes.

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Why residential homebuilders trust us

Whether you’re building a detached home or an entire subdivision, working in the residential homebuilding industry comes with risks, including fire, theft, and jobsite injuries. For more than 100 years, we’ve been creating customized insurance solutions for residential homebuilders. So, whether you’re a homebuilder, construction company, or trade contractor, our insurance specialists have the knowledge, tools, and experience to design a customized solution that can help protect your business.

We’re industry experts

We’ve built up extensive expertise among homebuilders as well as associated skilled trades, including electrical and mechanical contractors. We’ve also established relationships with leading industry associations including the Canadian Home Builders’ Association (CHBA), Canadian Electrical Contractors Association (CECA), Canadian Fence Industry Association (CFIA), Electrical Association of Manitoba (EAM), Mechanical Contractors Association of Ontario (MCAO), and many more.

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Insurance designed for residential homebuilders

Our residential homebuilders insurance offers customized options to protect your business against a wide range of risks. Coverage can be tailored to your construction schedule and budget, and can also be increased if the scope of the project increases. A customized policy can also be extended to include equipment and tools, and to protect materials or supplies in transit or while stored offsite.

At Federated Insurance, we provide:

  • Customized insurance solutions designed for residential homebuilders
  • Dedicated advisors who work with you directly
  • Expanded coverage options
  • Flexible payment and deductible options
  • Quick, no-hassle renewals

Common claims for residential homebuilders

As a residential homebuilder, you have a lot of responsibility — and one of those responsibilities is being aware of the risks and possible losses your business could face. Common causes for claims on jobsites include fire, vehicle accidents, heavy rainfall, and faulty work. Here are some common claims to be aware of:

Liability losses

Jobsites are full of potential hazards, and it’s your responsibility to keep people and property safe. If a visitor were to slip, trip, and injure themselves on your jobsite, your business could be held responsible, which could result in a costly liability claim.

Property losses

Your property includes any building, equipment, tools, machinery, or computers you own that help you run your business. If your building and/or the contents inside are damaged or destroyed by a natural disaster, theft, or vandalism, it could interrupt business and delay projects.

Fire

Fires can be a risk no matter what industry your business is in. Fires, whether accidental or intentional, can be caused by a variety of factors including smoking, hot work, and temporary heaters. They are costly to your bottom line — with the potential for injury or loss of life.

Builder's risk

When a structure is under construction, you face a number of risks: from natural hazards — such as high winds that blow down partially constructed walls — to theft of tools, equipment, or materials left on the jobsite overnight.

Vehicle losses

If you depend on the use of a vehicle to travel between jobsites or to transport equipment and materials, your personal auto coverage likely won’t cover you if you or your employed drivers are involved in a collision while using the vehicle for work.

Risk management tips for residential homebuilders

Tip #1:
Many homebuilders and contractors use temporary heaters on jobsites, particularly during colder months. But this poses a major risk of fire. Ensure that your workers only use heaters approved by a recognized standards organization such as UL/ULC or CSA — and that those heaters are covered by your insurance policy.
Tip #2:
Damage from high winds is not only costly, but often leads to delays in construction and home closures. Plus, it could result in injuries on the jobsite. A best practice is to brace the walls, particularly on the first storey where there are large openings for windows, doors, and garage doors.
Tip #3:
Hot work — any process that uses open flames or generates sparks — poses a high fire risk on jobsites. Ensure that workers always follow the procedures outlined in your hot work management program or follow best practices, such as using thermal barriers when necessary.
Tip #3:
Keep up with daily housekeeping. This can include things like cleaning up the jobsite at least daily, making sure no combustible materials are left lying around, and regularly removing combustible materials off the jobsite.

What type of insurance do residential homebuilders need?

In addition to providing you with coverage for liability, property, auto, and employee benefits, our toolbox is filled with customized options to ensure your residential homebuilders business is properly protected.

Business interruption insurance

Protects your business from a loss of income in the event of an insured loss.

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Tools & Equipment

Helps to cover the costs of replacing tools and equipment as well as rental reimbursement if your tools or equipment are damaged or stolen.

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Crime

Protects you from employee dishonesty, credit card forgery, and other types of theft.

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Cyber insurance

Helps to cover the costs for e-commerce threats, data recovery, and customer breach communications.

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Company Vehicles

Protects your company vehicle or fleet of vehicles — including those used for construction — in the event of an accident or collision.

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Pollution

Protects your business from the costs of environmental damage, which can hurt your project, your reputation, and your bottom line. Depending on your business, an additional policy may be required.

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Managing risk

Our insurance for residential homebuilders is designed to deal with a wide range of risks. So, whatever your needs, we’ll work to tailor an insurance solution that fits. Our Risk Service Specialists can work closely with you to provide the advice, support, and training you may need in order to analyze the potential risks to your operation. Knowing the exposures your residential homebuilders business could face can go a long way in helping you avoid future losses.

Our Risk Services Specialists are available to help you create a customized action plan that will address those issues and help you protect your bottom line. Whether it’s sharing our risk management observations on your current business or providing you with timely tools and resources, we’re here to help you be as successful as possible.

Value-added services for your residential homebuilder business

Once you become a customer, you’ll have access to an array of value-added services for your residential homebuilders business that include:

Superior claims handling

When it comes to handling claims in the residential homebuilders industry, our expert claims professionals are there for you. With 24/7 claims support, we can resolve your claim and get your business back up and running as quickly as possible.

Dedicated advisors

With industry training and experience, our Commercial Insurance Specialists can design tailored insurance programs to fit the unique needs of your residential homebuilders business, while also providing expert advice and support along the way.

Safety programs

We offer complimentary safety programs that can help keep your business and employees safe.

Safety programs

We have the tools to help you create, implement and maintain safety programs, with a focus on identifying, communicating and mitigating risks.

Trauma assistance

We provide confidential one-on-one counselling services to help you through an insured traumatic loss.

Ready to learn more about how Federated Insurance can help your business?