KBD is a broker that provides insurance
to cover your tools, contents, building, liability and more.
General contractors and sub-tradesmen require niche products when it comes to protecting their business. KBD works with leading insurance companies who offer packages specifically tailored to fit the business operations of general contractors.
Not only does having the correct coverage protect your company, but it will give your clients peace of mind knowing that you are covered if something goes wrong during the course of the work you are performing. In fact, many companies will not do business with GC’s who have less than 5 million in commercial general liability protection.
Here are some of the core protections that we offer to different types of contractors:
Commercial general liability
By far the most important protection for general contractors, commercial general liability (CGL)
covers you against bodily injury or property damage you could cause to a third party. In Lay man’s terms, if you damage someone else’s stuff during your course of work, your CGL would cover this claim.
If you are a general contractor building an entire house or commercial building, or completing a major renovation, you will need what is called a “builder’s risk”. This covers the building while it is in the course of construction, from the moment you start to dig the foundation until the product is delivered to the client. We can protect the structure against fire, lightning, vandalism, flood and earthquake.
General contractors are constantly on the road, working at different job sites every day. While it’s important to cover your tools while they are at your office, it’s even more important to cover them while they are with you on the job. We can offer “floater” coverage for your tools in case they are stolen or damaged while you are out on a work site.
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This type of bond is mandatory for all RBQ licensed contractors in Quebec. It is designed to protect consumers, i.e. your clients, if ever you were to default on your contract. This could be because of faulty work, construction defects, or failing to start or complete the job for whatever reason. KBD offers both the $20,000 bond for specialized contractors and the $40,000 bond for general contractors.
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If your business has an administrative office or workshop, you’ll need to cover the contents that you own at that location against damage. We provide coverage for fire, flood, earthquake, theft, and more while they are stored at your premises.
Often, if a job is going to last for more than a day, you will have raw materials at the work site that are not yet installed. For example: Let’s say you are re-siding someone’s house, and you purchase all of the siding at once. You may not be able to complete the job in one day, and so there will be materials left at the site until you can complete the job. KBD provides you with an installation floater to protect the materials from theft and fire at any location.
When you are a general contractor, you have a truck/car to go and see your clients and to perform your work. We provide commercial automobile insurance for any type of vehicle.
Bid bonds / performance bonds
If you are a larger contractor bidding on larger projects, you may be required to include a bid bond along with your proposal. A bid bond provides a guarantee to the project owner that if they accept your bid, that you will honour it at the agreed upon price. You will then likely require a performance bond, that provides a guarantee to the project owner that you will not default on the project. KBD provides bid/performance bonds quickly and at competitive rates.