Protect a Booming Industry With Construction Insurance in Cranbrook
Over the last few years, Cranbrook has seen an upward trend in the number of development and housing projects taking place and planned for the future. Changing demographic patterns and a thriving economy have seen more people moving into the region, driving up the need for housing. You can protect your piece of the action with HUB’s construction insurance in Cranbrook.
In 2021, the single-family homes that received construction permits were valued at around $31 million. New apartment buildings, renovations and redevelopments are more of the big projects Cranbrook is looking to accomplish over the next few years. Construction and skilled trades are a huge part of the Cranbrook economy, and workers in these fields are part of the more than 180,000 across British Columbia who keep buildings and homes safe and comfortable.
Commercial development and construction are also on the rise as the community looks to invest in updates, new developments and new infrastructure. With all the construction potential in Cranbrook also comes the risk of damaging liabilities. Those in the industry understand how supply chain issues, labour shortages and material costs can jeopardise completion. There is a lot to manage in this business, but HUB’s brokers are experts in providing comprehensive insurance coverage for your biggest risks.
Customising Construction Insurance in Cranbrook
The construction industry is full of risks, and you need to protect your business and employees while you work to build safe structures for the community. Falling behind is just one concern, as workers may rush to keep things moving and end up injuring themselves. Insurance is meant to address the challenges and concerns that could financially cripple your business.
When it comes to work in the construction sector, there are many professions and skilled trades within the industry. Each of these areas shares some common risks, but there are also liabilities unique to specific jobs. HUB’s construction insurance can handle the risks of the following professions:
- Plumbers
- Painters
- Roofers
- Carpenters
- Electricians
- Interior construction workers
Coverage can be used by general contractors, subcontractors, project owners, the developer or the specialty firms involved with the construction or design of the project. Our brokers look at what your business does and how it would be impacted by the risks you face. Armed with this knowledge, you can be confident that the construction insurance our Cranbrook team provides is rock-solid.
Insurance Solutions for Cranbrook Construction Companies
You need to protect your business from lawsuits, employee injuries, theft and other risks. Effective coverage solutions include:
- General liability to address lawsuits arising from accidents or claims of negligence
- Workers’ compensation to cover the medical expenses for injuries or illnesses employees sustain on the job
- Commercial auto coverage for costs related to property damage, bodily injury or towing using company vehicles
- Builder’s risk for losses to property sustained by explosions, water damage, fire, wear and tear or faulty design, workmanship or materials
- Construction defect claims related to the construction of the structure
- Professional liability to cover lawsuits and claims of errors, omissions or negligence
- Inland marine exposure to covers expenses for contracting equipment, materials, tool, cargo and hull
Your company may not need all of this coverage, which is why it’s important to work with a broker with experience in the construction industry. This ensures you are paying for what you need. Learn more about HUB’s construction insurance offerings!