(Canadian Construction Documents Committee Compliant Policies) Course of Construction insures the policy holder against damage to buildings while they are being constructed. These items are not normally covered under a home owner’s policy; however, the owner must have insurance in place on their property or land. This insurance allows for damage or loss as a result of fire, vandalism, lightning, wind damage, or theft.
Who needs this insurance?
General contractors, homeowners, and property owners.
Who is covered by the COC?
The builder, future owner (during the construction phase), and, generally, the contractors and sub-contractors that are supplying the materials and/or the labor.
What items does COC cover?
COC covers materials, supplies, machinery, equipment, and fixtures that are permanent to the building. The erection, installation and alteration of a commercial or residential construction project are also included.
Is my COC insurance limited to the construction site?
No. Your insurance extends protection for any items that are being stored until they are needed on-site or while they are being transported to the work site.
What is not covered under COC?
- The land where the construction is taking place
- Any incident that is not directly attributed to the building or the structure
- Damages from earthquakes, water, or sewage back-ups