As property and casualty insurance brokers, we instinctively know what type of protection covers which risks. But as they say: to each their own expertise!

If you’re an entrepreneur, you’ve probably already asked yourself these questions:

• What exactly does my insurance contract cover?
• What does my RBQ bond guarantee?
• Am I protected if I get injured and can no longer work?
• Are my employees covered?
• Are my subcontractors’ work included in my coverage?

Table of Contents

1. Property and Casualty Insurance – General Liability
2. Property and Casualty Insurance – Property and Equipment
3. Property and Casualty Insurance – Site Policy
4. License Bond
5. Disability and Life Insurance
6. Summary

1. Property and Casualty Insurance – General Liability

Why it’s important: protects your business against claims and legal fees that could threaten its financial stability.

This protection generally covers:

• Property and bodily damage
• Liability for abuse or personal injury
• Medical expenses
• Tenant liability
• Damage related to pollution or defective work
• Privacy breaches
• And many other litigation situations

It handles claims andlegal defense costs.

2. Property and Casualty Insurance – Property and Equipment

Objective: protect your equipment and ensure business continuity.

This coverage protects:

• Your tools and equipment (light, heavy or mobile)
• Contractor materials
• Goods being installed or stored
• Goods entrusted to third parties

In case of theft, fire or equipment breakdown, you avoid a major interruption.
Often, it also includes rental or borrowing replacement equipment.

Tip: make sure the insured amount is realistic to avoid the proportional rule and unpleasant surprises.

3. Property and Casualty Insurance – Site Policy

Ideal for: new construction sites or major projects.

This protection covers:

• Buildings under construction
• Labor
• Materials
• All stakeholders

For major projects, the “Wrap-Up” policy groups together the protection of owners, contractors and subcontractors in a single contract.

4. License Bond

Role: assure your clients that the work will be completed or that they will have recourse in case of problems.

• Financial guarantee required by the RBQ or certain insurers
• Protects in case of non-completion of work, disability or financial difficulties
• Often mandatory according to consumer protection law

5. Disability and Life Insurance

Why consider it: protect your income, fixed costs and business continuity.

It covers:

• Payments to suppliers and subcontractors
• Insurance premiums
• Fixed business expenses

In case of disability or death, it ensures the financial sustainability of the organization.

In Summary

Insurance for construction entrepreneurs is not a single product.
It consists of several complementary protections:

• General liability
• Property and equipment
• Site policy
• License bond
• Disability and life insurance

By combining them appropriately, you avoid major financial losses and work with peace of mind.

Need advice?
Contact your broker at Gendron Assurance to analyze your needs.