A contractor holds a hard hat by his side on a construction site

Insurance Support for the Barrie Construction Association

kase
Dec 4 2023

Canada’s economic growth is fuelled by the construction industry. Currently, this dynamic industry accounts for 7.4% of Canada’s annual GDP and is only expected to continue growing.

That said, while long-term career growth in the construction industry looks promising, the market is becoming saturated and highly competitive. If you want to succeed, you need a network of supportive colleagues who can help you navigate your chosen field and give you an avenue through which to voice your concerns.

It’s the kind of network that the Barrie Construction Association (BCA) can provide.

What Is the Barrie Construction Association?

Formed in the early 1950s in the Barrie Bid Depository and Plans room, the Barrie Construction Association has always been an organization that dedicates itself to serving the city’s construction industry.

It currently serves 400 members who are a mix of industrial, commercial, residential, and non-residential construction contractors. Its members also include institutional builders from in and around the region.

As one of the leading resources for independent contractors and construction businesses, the BCA aims to provide job and networking opportunities and create a safe environment where members can express their concerns to key stakeholders in the sector.

 The interior of a construction site with a hard hat, vest, and tools on a workbench

As a member of the BCA, you will benefit from:

Safety Training Courses

Members of the BCA enjoy a wide variety of health and safety training programs designed to prepare them for potential work-related accidents. These safety training courses are fully compliant with provincial by-laws and are held at the BCA headquarters.

The BCA also utilizes resources from organizations related to the construction industry to provide its members with high-quality training as well as all the necessary equipment they need to learn comfortably and with confidence.

Education and Grants Opportunities

The Barrie Construction Association offers several scholarships and grant opportunities to students pursuing a construction trade career. It also provides numerous classes and seminars, such as the Business Builders Breakfast and The Lunchbox Series. These are designed to give members the opportunity to upskill and further excel in their careers.

Employment Services

BCA members are given access to exclusive employment opportunities that can jumpstart their careers and find construction projects that are suitable for their trade. The organization also works with local trade schools to promote the construction industry.

Customizable Insurance Support for BCA Members

While the BCA provides plenty of resources to help you better navigate your construction career, it can’t protect you against financial losses.

The construction industry is rife with risks and hazards; an accident can easily lead to costly project delays and steep medical bills. As such, you need reliable insurance support to protect your business amid unfortunate events and unforeseen circumstances.

KASE Insurance is proud to offer members of the BCA insurance bundles that can be customized to cater to their unique needs.

These bundles can include any of the following insurance policies:

Commercial General Liability (CGL) Insurance

Commercial general liability insurance is one of the most basic forms of contractor’s insurance. It protects your company from unforeseen circumstances that could be disruptive to your business’s daily operations. CGL coverage can include:

  • Employee injuries
  • Third-party injuries or accidental injuries
  • Third-party property damage
  • Product liability
  • Advertising and reputational harm

The riders included in your plan will depend on how many employees you have, your office location, and other company-specific considerations.

Developed residential properties in the middle of a city

Contractors Insurance

Contractors insurance protects independent contractors, subcontractors, and company owners against financial losses and damages. Aside from third-party injuries and property damage, contractor liability insurance also covers:

  • Worker compensation
  • Repair and replacement costs for tools and equipment
  • Repair and replacement costs for company-owned vehicles

Additional coverage may be needed depending on your unique risk factors. In some provinces and territories, contractor insurance is mandatory.

Real Estate Developer Insurance

Real estate developer insurance covers both large and small property developers and residential and non-residential contractors. It also provides protection against major and minor losses that impact the construction project’s success.

Under real estate developer insurance, the following policies can be included:

  • Builder’s risk insurance: This provides protection for a building under construction against many forms of physical damage, including natural disasters, fire, and theft.
  • Pollution liability insurance: this protects your company against claims borne out of environmental hazards and pollutants.
  • Cyber liability insurance: This policy protects your business against financial strain caused by cyber security threats and data breaches.

Surety Bonds

The bigger the project, the bigger the risk.

This means that competition will be stiff and that you must be able to prove to the project owner you are able to finish the contract within the given deadline. The best way to ensure you win the latest bid opportunity is by entering into a surety bond—it proves that you’re ready to take on a project and are capable of completing it.

Surety bonds you may be required to enter into can include:

  • Bid bonds: These assure your client that you will obtain the necessary bonds if you win the construction bid for the contract.
  • Performance bonds: A performance bond acts as a guarantee for your client that you will see the project to completion within a given deadline in accordance with industry standards.
  • Payment bonds: These serve as an assurance that you will pay the parties involved in the project.

Surety bonds also boost your credibility in clients’ eyes, which increases the likelihood of forming long-lasting relationships with them.

Why Go With KASE Insurance?

Joining an organization like BCA gives you a competitive advantage in the construction industry. However, arming yourself with comprehensive insurance policies is how you protect yourself from unexpected losses and risks that could disrupt your daily operations.

KASE Insurance is an award-winning insurance brokerage proud to support Barrie Construction Association members by offering them risk-management strategies and fully customized insurance bundles.

Our team of professional insurance brokers is happy to answer any questions you may have, so contact us today to get started!

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