Your industry in focus
We know that you’re on a tight schedule and you’re juggling many different priorities, like suppliers, workers, sub-trades, and clients - plus you’re arranging permits, materials, and inspections. To bolster your resilience, you need an insurance partner that knows how to get down into the details. We can cover all your essential construction risks and then look at the project specifics to understand your individual risk exposures. Whether you need protection for potential faulty materials, a fire, or shipment delays with foreign suppliers, we can address your risks and challenges with coverages for your unique needs. In your industry, you need to be experienced, fast, and agile. That sounds a lot like the experience of working with Sovereign.
Targeting:
Mid to large sized commercial, institutional, industrial and infrastructure contractors
Subcontractors, specialty trade contractors, and general contractors
Specializing in:
- Commercial building construction and renovation
- Cement, concrete, and masonry
- Electrical
- Infrastructure, including roads, sewer and watermains, and small bridges
- Site preparation, grading, and excavation
- Industrial contractors, including millwrights
- Mechanical contractors, including heating, air conditioning, and refrigeration
- Water well drilling
- Oil field service contractors
Sovereign SecureTM Project Construction and Contractors
Whether you’re a specialty trade contractor, constructing or renovating buildings, or operating in a specific industry like the oil and gas sector, Sovereign Secure Contractors and Sovereign Secure Project Construction products provide comprehensive protection designed to address the unique, new, and emerging risks to your business.
These key product offerings include:
- Comprehensive base wordings with broad coverage
- Competitive, clearly written, industry-focused wordings
- Simplified, flexible, and scalable products that are easily customizable
- Digital, interactive modern policy documents that are organized, clear, and easy to navigate
Our Solutions
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Coverages and extensions designed to protect your business
We customize our coverage* limits and deductibles to address the exposures faced by your business – from insuring your annual operations to a specific construction project. The following are just some of the key insurance coverages we provide to meet the unique needs of the Construction industry. Please note that while a selection of key coverages are displayed because of their particular relevance and value to the industry sector, these coverages and extensions, and many others, may also be available across multiple industry sectors. The coverages and extensions highlighted are only a few of the coverages and extensions available. Explore our full list of base coverages, extensions, and endorsements for Project Construction and Contractors.
- Fluctuation in Raw Material Values
- Installation Floater
- Land and Water Pollution Clean Up
- Mobile and Miscellaneous Property
- Social Engineering
Contractors
Coverage snapshot
Markets fluctuate – and that can impact the value of your building materials, and consequently, the coverage required to replace your materials should you experience a loss. Fluctuation in Raw Material Values provides coverage towards the additional cost to replace raw materials that have suffered a loss, or damage at your premises, when the insured limit is insufficient because of a rise in value of the materials due fluctuations in the market price.
Coverage snapshot
You've got materials on the job site ready to be installed – it’s important they’re protected. In the course of repair, completion, erection, or improvement of a property there's always the risk of your materials being lost or damaged by a number of perils. An Installation Floater provides coverage for loss or damage to materials and supplies that form part of an installation project.
Coverage snapshot
Taking methodical, proactive measures to ensure your property and your construction sites are environmentally responsible also includes accounting for unexpected mistakes, and the significant ecological impact they can have. Land and Water Pollution Clean Up protection provides coverage towards expenses incurred to clean up pollutants from land or water at the site of a loss involving insured property as a result of a sudden, unexpected, and unintended spill, discharge, emission, dispersal, seepage, leakage, release, migration or escape of pollutants.
Coverage snapshot
You’ve got the right tool for every job - from large equipment like backhoes, excavators, cranes, and specialized equipment to smaller hand tools, power tools, compressors, and generators. Whether in your yard, on a work site, or in transit, our Mobile and Miscellaneous Property coverage provides protection for tools and larger pieces of equipment against many exposures, including theft, fire, and upset at job sites or in transit. We offer coverage based on a variety of valuation and deductible options.
Coverage snapshot
We’ve all been exposed to scams - an alert from a security firm that your software needs a fix, or a financial institution advising you to correct an account error. It’s suspicious, and we know not to click. But fraudulent behavior isn’t always as obvious when it comes to our business. The truth is, no business is safe from social engineering. Our coverage protects your business if a third party fraudulently impersonates someone to intentionally mislead your employees into transferring money or securities into a third-party account.
- Business Income Loss and Digital Asset Loss
- Contents in Office Trailers
- Continuing Rental or Lease Expense
- Contractors' Limited Errors and Omissions
- Cyber Event Liability Limit
- Employee Tools, Equipment and Clothing
- Expendable Supplies
- Hauling Mobile Equipment of Others
- Ice and Muskeg
- Installation Floater
- Land and Water Pollution Clean Up
- Privacy Breach Expense
- Removal, Replacement or Remediation of Defective Products
- Rental Expenses
- Short-Term Mobile Equipment Rented, Leased, or Borrowed from Others
- Upgrades to Mobile Equipment
Contractors
Coverage snapshot
Business income is a critical coverage within a Cyber policy. If you’re dependent on your network and it becomes unavailable due to a cyber event, it can have a considerable impact on your daily operations and financial revenue. Business Income provides coverage for actual loss sustained and extra expense incurred due to a network disruption due to a cyber event.
Coverage snapshot
Construction trailers not only provide construction crews with a clean, temperature-controlled space when working at a jobsite, they can also be used to store tools and materials. Contents in Office Trailers provides coverage for physical loss or damage to contents that might be found in a trailer at a work site, which likely wasn't included on a schedule of miscellaneous equipment. This includes items like office furniture, décor, appliances, electronics or equipment, and even property of others in your care.
Coverage snapshot
When business is booming, contractors increasingly rely on owned and rented equipment for projects. However, if rented equipment suffers physical loss or damage while in your care and custody, you may be responsible for the rental expenses until the equipment is repaired or replaced. Continuing Rental or Lease Expense will help pay for the continuing rental or lease expense for rented or leased mobile equipment (under a short-term lease agreement for up to 12 months) involved in a covered loss. Coverage is available for up to 30 days, or 14 days if the equipment is determined to be a total loss.
Coverage snapshot
Whether you misread a plan or overlook an important detail, costly mistakes can happen at any point in a project. The Contractors’ Limited E&O endorsement provides coverage for costs that the insured is legally obligated to pay as expenses to repair or replace work that they have done, including consequential financial injury, caused by an error they made.
Coverage Snapshot
Cybercriminals are savvy. There are countless ways your business can be subjected to a cyber-attack, like phishing, business email compromise, clickjacking, malware – the list goes on! Cyber Event Liability provides coverage for third party lawsuits relating to a cyber event, such as a data breach or cyber-attack.
Coverage snapshot
Often construction workers will bring their own tools and equipment to a jobsite. In doing so, there’s always the risk they could be stolen, damaged, or destroyed. Employee Tools, Equipment and Clothing provides coverage for physical loss or damage to those kinds of employees’ personal effects during the employee’s course of employment.
Coverage snapshot
Maintaining your equipment helps extend its lifespan, prevent unplanned downtime, and avoid the need for more expensive repairs due to negligence. Expendable Supplies provides coverage for physical loss or damage specifically for consumable supplies held exclusively for the servicing and periodic maintenance of mobile construction equipment, including oil, grease, fuel, filters, and spark plugs.
Coverage snapshot
It’s not uncommon for contractors to help other construction workers or companies on a job site, for example by helping them move or transport equipment. This extension within the Mobile and Miscellaneous Property form provides some coverage for physical loss or damage to mobile equipment in the event that the equipment that the insured is hauling for others is damaged or destroyed by an insured loss (e.g. in a collision or overturn). This coverage does not apply if the Insured is transporting for a charge.
Coverage snapshot
Sometimes you find yourself on slippery or sinking ground. Soft soil conditions such as muskeg and swamp can cause your equipment to get stuck in the mud. And when breaking through ice, your equipment could become damaged or fall through. This kind of incident isn’t usually covered under standard contractors or mobile equipment coverage. Ice and Muskeg provides coverage for contractor’s mobile equipment damaged as a result of sinking in soft soil conditions, such as muskeg and swamp, or breaking through ice. This is an available coverage option under our Mobile and Miscellaneous Property Coverage Form.
Coverage snapshot
You've got materials on the job site ready to be installed – it’s important they’re protected. In the course of repair, completion, erection, or improvement of a property there's always the risk of your materials being lost or damaged by a number of perils. An Installation Floater provides coverage for loss or damage to materials and supplies that form part of an installation project.
Coverage snapshot
Taking methodical, proactive measures to ensure your property and your construction sites are environmentally responsible also includes accounting for unexpected mistakes, and the significant ecological impact they can have. Land and Water Pollution Clean Up protection provides coverage towards expenses incurred to clean up pollutants from land or water at the site of a loss involving insured property as a result of a sudden, unexpected, and unintended spill, discharge, emission, dispersal, seepage, leakage, release, migration or escape of pollutants.
Coverage snapshot
When you experience a privacy breach, you need to protect the individuals who are affected. But as you take the steps necessary to address the breach, you still have other clients to manage and project deadlines to complete. Company resources are stretched to the maximum making it difficult to respond quickly and effectively. This insurance coverage assists you in getting access to experts who can help manage next steps and mitigate any complications after a privacy incident.
Coverage snapshot
As a contractor, you stand by the quality and structural integrity of the products and materials you supply to construction sites, but product defects can still happen even when you have sound quality control practices in place. Removal, Replacement or Remediation of Defective Products coverage can protect your budget from certain additional expenses to “rip and tear” out your defective products when they are rejected after installation and testing because they failed to meet the required strength for their intended purpose.
Coverage snapshot
Equipment rentals can be costly – but so are project delays. If an insured piece of mobile equipment that is essential to complete work being done sustains direct physical loss or damage, this optional coverage helps to cover the reasonable rental expenses incurred to rent similar substitute mobile equipment.
Coverage snapshot
Business is good. You need more equipment than anticipated to get the job done, so you rent equipment for your workers. Now you need to be covered for possible risks of physical loss or damage to the rented equipment. Our Mobile and Miscellaneous Property coverage includes protection for physical loss or damage to contractors’ mobile equipment while leased, rented or borrowed from others for a period of 12 months or less.
Coverage snapshot
Part of maintaining a competitive business requires making ongoing upgrades to your equipment. This extension insures direct physical loss or damage to upgrades made to mobile equipment during the course of the policy period.
- Business Income Loss and Digital Asset Loss
- Continuing Rental or Lease Expense
- Contractors' Limited Errors and Omissions
- Cyber Event Liability Limit
- Employee Tools, Equipment and Clothing
- Expendable Supplies
- Fluctuation in Raw Material Values
- Hauling Mobile Equipment of Others
- Installation Floater
- Privacy Breach Expense
- Removal, Replacement or Remediation of Defective Products
- Rental Expenses
- Upgrades to Mobile Equipment
Contractors
Coverage snapshot
Business income is a critical coverage within a Cyber policy. If you’re dependent on your network and it becomes unavailable due to a cyber event, it can have a considerable impact on your daily operations and financial revenue. Business Income provides coverage for actual loss sustained and extra expense incurred due to a network disruption due to a cyber event.
Coverage snapshot
When business is booming, contractors increasingly rely on owned and rented equipment for projects. However, if rented equipment suffers physical loss or damage while in your care and custody, you may be responsible for the rental expenses until the equipment is repaired or replaced. Continuing Rental or Lease Expense will help pay for the continuing rental or lease expense for rented or leased mobile equipment (under a short-term lease agreement for up to 12 months) involved in a covered loss. Coverage is available for up to 30 days, or 14 days if the equipment is determined to be a total loss.
Coverage snapshot
Whether you misread a plan or overlook an important detail, costly mistakes can happen at any point in a project. The Contractors’ Limited E&O endorsement provides coverage for costs that the insured is legally obligated to pay as expenses to repair or replace work that they have done, including consequential financial injury, caused by an error they made.
Coverage Snapshot
Cybercriminals are savvy. There are countless ways your business can be subjected to a cyber-attack, like phishing, business email compromise, clickjacking, malware – the list goes on! Cyber Event Liability provides coverage for third party lawsuits relating to a cyber event, such as a data breach or cyber-attack.
Coverage snapshot
Often construction workers will bring their own tools and equipment to a jobsite. In doing so, there’s always the risk they could be stolen, damaged, or destroyed. Employee Tools, Equipment and Clothing provides coverage for physical loss or damage to those kinds of employees’ personal effects during the employee’s course of employment.
Coverage snapshot
Maintaining your equipment helps extend its lifespan, prevent unplanned downtime, and avoid the need for more expensive repairs due to negligence. Expendable Supplies provides coverage for physical loss or damage specifically for consumable supplies held exclusively for the servicing and periodic maintenance of mobile construction equipment, including oil, grease, fuel, filters, and spark plugs.
Coverage snapshot
Markets fluctuate – and that can impact the value of your building materials, and consequently, the coverage required to replace your materials should you experience a loss. Fluctuation in Raw Material Values provides coverage towards the additional cost to replace raw materials that have suffered a loss, or damage at your premises, when the insured limit is insufficient because of a rise in value of the materials due fluctuations in the market price.
Coverage snapshot
It’s not uncommon for contractors to help other construction workers or companies on a job site, for example by helping them move or transport equipment. This extension within the Mobile and Miscellaneous Property form provides some coverage for physical loss or damage to mobile equipment in the event that the equipment that the insured is hauling for others is damaged or destroyed by an insured loss (e.g. in a collision or overturn). This coverage does not apply if the Insured is transporting for a charge.
Coverage snapshot
You've got materials on the job site ready to be installed – it’s important they’re protected. In the course of repair, completion, erection, or improvement of a property there's always the risk of your materials being lost or damaged by a number of perils. An Installation Floater provides coverage for loss or damage to materials and supplies that form part of an installation project.
Coverage snapshot
When you experience a privacy breach, you need to protect the individuals who are affected. But as you take the steps necessary to address the breach, you still have other clients to manage and project deadlines to complete. Company resources are stretched to the maximum making it difficult to respond quickly and effectively. This insurance coverage assists you in getting access to experts who can help manage next steps and mitigate any complications after a privacy incident.
Coverage snapshot
As a contractor, you stand by the quality and structural integrity of the products and materials you supply to construction sites, but product defects can still happen even when you have sound quality control practices in place. Removal, Replacement or Remediation of Defective Products coverage can protect your budget from certain additional expenses to “rip and tear” out your defective products when they are rejected after installation and testing because they failed to meet the required strength for their intended purpose.
Coverage snapshot
Equipment rentals can be costly – but so are project delays. If an insured piece of mobile equipment that is essential to complete work being done sustains direct physical loss or damage, this optional coverage helps to cover the reasonable rental expenses incurred to rent similar substitute mobile equipment.
Coverage snapshot
Part of maintaining a competitive business requires making ongoing upgrades to your equipment. This extension insures direct physical loss or damage to upgrades made to mobile equipment during the course of the policy period.
- Business Income Loss and Digital Asset Loss
- Continuing Rental or Lease Expense
- Hauling Mobile Equipment of Others
- Cyber Event Liability Limit
- Ice and Muskeg
- Privacy Breach Expense
- Rental Expenses
- Short-Term Mobile Equipment Rented, Leased, or Borrowed from Others
- Upgrades to Mobile Equipment
Contractors
Coverage snapshot
Business income is a critical coverage within a Cyber policy. If you’re dependent on your network and it becomes unavailable due to a cyber event, it can have a considerable impact on your daily operations and financial revenue. Business Income provides coverage for actual loss sustained and extra expense incurred due to a network disruption due to a cyber event.
Coverage snapshot
When business is booming, contractors increasingly rely on owned and rented equipment for projects. However, if rented equipment suffers physical loss or damage while in your care and custody, you may be responsible for the rental expenses until the equipment is repaired or replaced. Continuing Rental or Lease Expense will help pay for the continuing rental or lease expense for rented or leased mobile equipment (under a short-term lease agreement for up to 12 months) involved in a covered loss. Coverage is available for up to 30 days, or 14 days if the equipment is determined to be a total loss.
Coverage snapshot
It’s not uncommon for contractors to help other construction workers or companies on a job site, for example by helping them move or transport equipment. This extension within the Mobile and Miscellaneous Property form provides some coverage for physical loss or damage to mobile equipment in the event that the equipment that the insured is hauling for others is damaged or destroyed by an insured loss (e.g. in a collision or overturn). This coverage does not apply if the Insured is transporting for a charge.
Coverage Snapshot
Cybercriminals are savvy. There are countless ways your business can be subjected to a cyber-attack, like phishing, business email compromise, clickjacking, malware – the list goes on! Cyber Event Liability provides coverage for third party lawsuits relating to a cyber event, such as a data breach or cyber-attack.
Coverage snapshot
Sometimes you find yourself on slippery or sinking ground. Soft soil conditions such as muskeg and swamp can cause your equipment to get stuck in the mud. And when breaking through ice, your equipment could become damaged or fall through. This kind of incident isn’t usually covered under standard contractors or mobile equipment coverage. Ice and Muskeg provides coverage for contractor’s mobile equipment damaged as a result of sinking in soft soil conditions, such as muskeg and swamp, or breaking through ice. This is an available coverage option under our Mobile and Miscellaneous Property Coverage Form.
Coverage snapshot
When you experience a privacy breach, you need to protect the individuals who are affected. But as you take the steps necessary to address the breach, you still have other clients to manage and project deadlines to complete. Company resources are stretched to the maximum making it difficult to respond quickly and effectively. This insurance coverage assists you in getting access to experts who can help manage next steps and mitigate any complications after a privacy incident.
Coverage snapshot
Equipment rentals can be costly – but so are project delays. If an insured piece of mobile equipment that is essential to complete work being done sustains direct physical loss or damage, this optional coverage helps to cover the reasonable rental expenses incurred to rent similar substitute mobile equipment.
Coverage snapshot
Business is good. You need more equipment than anticipated to get the job done, so you rent equipment for your workers. Now you need to be covered for possible risks of physical loss or damage to the rented equipment. Our Mobile and Miscellaneous Property coverage includes protection for physical loss or damage to contractors’ mobile equipment while leased, rented or borrowed from others for a period of 12 months or less.
Coverage snapshot
Part of maintaining a competitive business requires making ongoing upgrades to your equipment. This extension insures direct physical loss or damage to upgrades made to mobile equipment during the course of the policy period.
- Builders Risk
- Contingent Wrap-up Insurance Program Liability Exclusion with Limited Exceptions
- Delayed Start Up Income
- Equipment Breakdown Builders' Risk
- Soft Costs
- Wrap Up Liability
Project Construction
Coverage snapshot
Whether you're building an office building, a condominium, or a commercial, industrial or institutional building – or even if you're erecting or installing free-standing structures such as communication towers – you need coverage throughout the course of the construction project. Builders Risk insurance provides coverage for the project itself, as well as most of the materials and supplies needed to complete the project including coverage for landscaping, trees, plants and shrubs, and all ancillary buildings, scaffolding, falsework, forms hoardings, excavation, and site servicing that are integral to the job.
Coverage snapshot
Sometimes you need extra protection. Difference in Coverage (DIC) protects against any gaps in coverage between a contractor’s general liability policy and the Wrap Up Liability policy if coverage under the Wrap Up policy is more restrictive. Difference in Deductible (DID) coverage pays the difference when the deductible under the Wrap Up policy is higher than the deductible on a contractor’s own general liability policy. Difference in Limits (DIL) coverage provides protection where the contractor’s own general liability limits are greater than the Wrap Up Liability limits.
Coverage snapshot
Even when physical loss or damage on a project is covered, it can still throw a wrench into your timelines and impact the project owner’s future earnings. Delayed Startup Income coverage protects owners or stakeholders of the insurance placed on a construction project against the potential loss of anticipated income if covered physical loss or damage causes a delay in the completion of the project.
Coverage snapshot
Your construction project isn’t quite complete until your testing is a success. Equipment Breakdown Builders’ Risk complements your Builders Risk protection by providing coverage for physical damage to equipment caused by a breakdown of the equipment during the testing and commissioning process.
Coverage snapshot
Your construction project has suffered physical loss or damage, causing a delay in the completion of the project. Now, miscellaneous additional costs you didn’t expect are starting to add up. Soft Costs provides coverage for certain additional expenses incurred as a result of covered physical loss or damage, such as: architect or engineering fees related to repairs, extra fees for added interest charged by lenders, costs related to re-financing, building permits, and advertising expenses.
Coverage snapshot
As the General Contractor or owner of a large construction project, you want protection that gives you peace of mind knowing that everyone involved in the project is properly insured. A Wrap Up policy makes it easier to ensure that all of the contractors and subcontractors working on the project are covered, and it helps you avoid disputes between policies and insurers when more than one contractor is involved in a loss. The Wrap Up policy also extends completed operations liability coverage for everyone involved for a period of 12, 24, or 36 months - as specified - after the project has been completed.
Building on the success of Sovereign SecureTM TechPro, Sovereign’s new Sovereign SecureTM Commercial wordings and our suite of industry-oriented Sovereign SecureTM product offerings come into effect September 1, 2023 – new business and renewal policies with effective dates from September 1, 2023 and onward will be issued using the new wordings. An automatic one-year Liberalization and Coverage Continuity Clause is included for renewing policies so that our partners and clients have sufficient time to become familiar with the new wordings, while benefiting from the broader coverage provided by either the expiring Sovereign policy or the new Sovereign policy in the event of a claim.
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