There are more than 1.2 million construction workmen in Canada, and it is considered as a large business sector. The annual growth rate is up to 8.5%, which is around $354.9 billion annually. At this growth rate, it is essential for construction projects to get a builders risk insurance policy and protect the life of site workers and financial losses in case of unforeseeable circumstances. There are 2 broad types of risks involved in construction projects: Property damage Injury to the third party All the personnel like electricians, contractors, renovation experts, and HVAC mechanics must acquire a minimum of $200,000 liability insurance and hold valid construction insurance. Construction insurance in Toronto and all across Canada is a must in case of a risky environment at the construction site. This construction project’s insurance will cover the workers, contractors, sub-contractors, companies, etc., saving them from third-party penalties. This insurance is not only obli