Commercial Insurance

for Real Estate Developers

Commercial Insurance

for Real Estate Developers

Excalibur Insurance keeps Ontario developers building with coverage you can understand and afford.

Excalibur Insurance keeps Ontario developers
building with coverage you can understand and afford.

What coverage do I need & where can I save on commercial insurance?

How to protect what you’ve built while being smart with your dollars? As a Real Estate Developer in Ontario, you’re busy connecting the right property with the right opportunity. It might have been a little while since you reviewed your business insurance coverage. You are no stranger to risk but you might be risking a lot if you’ve not ensured your commercial insurance coverage matches your needs.

Our commercial insurance team is familiar with the unpredictable development process. You may be in the midst of several projects, renovating, re-leasing and developing land. You are likely working with multiple professionals to coordinate specialized services. Fluctuations in the general market, natural disasters, and failure to meet the standards of a contract are all potential exposures. Rest assured that the Excalibur team will perform a commercial insurance review of all possible coverages to protect you from significant loss.

Even experienced developers may find themselves in hot water if an issue catches them unawares or a setback occurs. Our team of defenders has your back, with coverage to keep your hard earned money where it belongs.

We Understand

yellow hard hat

You need to keep
your team working.

We help you prioritize the liability coverage options that protect you in case a customer or other party takes legal action against you or your team. You can keep working with confidence knowing you are covered.

You need the flexibility to do business when it works for you.

We ensure you have the ability to access real time proof of insurance certificates and make changes to your coverage when you’re at the site, on a coffee break or between client meetings.

handshake icon

You need to know
we’re a handshake away.

The only thing better than our coverage, is the commitment of our Excalibur Defenders – who double check coverage, and champion small business owners at every turn. If you need us we’re there.

At Excalibur insurance, our commercial specialists help you manage risk using our special process. Only buy the coverage you need; you have options to consider, and we can help you evaluate and understand them.

We Make Your Business
More Appealing to Insurers.

green person with lightning bolts

1. We review common insurer pain points.

magnifying glass warning icon

2. We leverage our risk prevention expertise.

checklist icon

3. We strategically package your submission for a quote.

Real estate development businesses we can protect:

  • Residential real estate developers
  • Commercial real estate developers
  • Industrial real estate developers
  • Mixed-use real estate developers
  • Urban renewal developers
  • Senior living real estate developers
  • Resort & hospitality real estate developers
  • Land developers
  • Re-development specialists
  • Special purpose developers

Let’s Begin with the Coverage You Need to Grow Your Business.

Our Excalibur Insurance Brokers will ask a lot of questions – for good reason. The many activities that a real estate developer can have ongoing at any time, means your business faces unique risks. The purchase of raw land, parceling land for sales, developing land, renovating and leasing properties or working on rezoning all involve risk regarding profit and success.

While you may control and orchestrate the development process you also take on the most risk. Without the necessary financing, approval, and marketing a project may be sold unfinished or a loss will be copped. Our team is there to ensure you have exactly the coverage you require. Risk management will be critical to the success and growth of your Real estate development company.

We’ll begin by acknowledging the risks, then prioritizing those in terms of what is most urgent, or likely. Then we’ll develop a plan to manage, mitigate, transfer, accept or even avoid those risks.

Here are a few areas of specialized concern you may want to consider when reviewing your coverage:

  • Goods in Transit
    coverage is a surprisingly overlooked risk, especially for businesses like Real Estate Development where you might be moving large amounts of construction material from one site to another. Damage may occur unexpectedly in transport.
  • Contractual Risk
    is another consideration for many Real Estate Companies, as failure to adhere to the standards or even deadlines of an agreed-upon contract may result in the loss of a client, nonpayment, or even reputational injury. To mitigate this risk, avoiding taking on too many projects, understanding the capacity of your business, and ensuring that your staff are informed as to what your business’ priorities are on the scale of most urgent to least urgent is critical to managing contractual risk.
  • Fluctuations
    in the general market – like increases in construction costs, building materials, and labour may pose a risk to developers. There may be a failure to account for set construction costs in the budget. Without any wiggle-room to include the potential rise of these costs, you may borrow money or cop a loss and sell an unfinished project. Unfortunately, due to the recent COVID-19 pandemic, many suppliers have had to close shop and demand has recently risen for housing materials – causing construction costs to spike.

These are just a number of the real risks your employees and customers face daily in the Real estate development business. To keep your team operating at its best your Excalibur Commercial Insurance specialist will review coverage options with you.

Business Insurance for Real Estate Developers

No matter how large or small your Real Estate Development company is, insurance is critical. Even with the most fool-proof risk management strategy you can muster, accidents happen. There might be external, uncontrollable forces that can cause an unexpected disaster, or even internal matters which result in loss. For such reasons, it is vital to your business’ livelihood that you purchase appropriate business insurance coverage.

Not sure what coverage your business may need? See below for a sampling of some of the Commercial Insurance options that may be of benefit to your company and protect your assets.

A well protected business is a reliable one – able to confidently take on the next project without fear of ‘what if’s’

Commercial General Liability Insurance

Commercial General Liability, or CGL, is the most basic form of business insurance coverage. It may cover a food & beverage professional from accidents both in-and-outside of regular services. This includes lawsuit expenses due to incidents of slips and falls, structural collapse, or other incidents.

Commercial Property Insurance

If you have a brick and mortar spot your business calls home – you might want to protect it. This coverage protects your business premises against losses due to theft, fire, vandalism, falling objects and other ‘named perils’

Business Interruption Insurance

Many small businesses are not insured if something happens where they need to temporarily close due to a claim. A fire, flood or break in may temporarily halt business and create serious cash flow stress.

Crime Insurance

Commercial “Crime Insurance & Employee Dishonesty” coverage helps protect businesses of all scale and scope from losses due to crime that can occur within or outside your organization.

Commercial Umbrella Insurance

Commercial “Umbrella” Liability coverage extends the limits and coverage of your Commercial General Liability (CGL) insurance capacity. It acts like a shield moving to fill gaps that might exist in your individual policies.

Directors and Officers

D&O coverage protects boards of directors and officers against lawsuit expenses. This includes public, private, profit, and non-profit organizations.

Equipment Breakdown

Equipment Breakdown Insurance protects the equipment your business depends on from sudden and accidental, physical damage that requires its repair or replacement.

Cyber Insurance

Cyber Insurance helps cover expenses when your network is hacked, or your data is stolen. It can include coverage for extortion, crisis management, and business interruption expenses.

Commercial Auto & Fleet Insurance

Commercial Auto coverage ensures that any vehicles used by your business, occasionally or full time, are protected in the case of an accident.

Liquor Liability for Food & Beverage

If your business produces and/or serves liquor as part of its operations this may cover the cost of damages, medical bills, as well as legal expense, defense costs, or settlement fees that could occur should an intoxicated person cause injury to themselves, someone else, or a third-party’s property.

Business insurance shouldn’t be the only fallback for your business. Implementing accurate risk management strategies that reflect your business’ exposures and manage, transfer, avoid, or accept your risks respectively will help your business continue to operate for years to come.

A greatly reduced chance of loss, may encourage your business to be more efficient, productive, and reputable. Aligning your business insurance is just another important step Canadian Real Estate Developers can take to manage their professional risk.

You deserve an insurance broker who leaves nothing to chance, wants to save you money – and is willing to tell you the unvarnished truth.

You deserve an insurance broker who leaves nothing to chance, wants to save you money – and is willing to tell you the unvarnished truth.

OR, Just give us a call and speak to an Excalibur Defender

Jeff Roy, Excalibur Insurance (headshot)

Jeff Roy

President & CEO
[email protected]
(519) 482-9357

Ken Colquhoun, Excalibur Insurance (headshot)

Ken Colquhoun

VP Personal
& Commercial Sales
[email protected]
(226) 423-3015

Learn more over at our Blog!