Business and Industry are at an all-time high in Newfoundland & Labrador. Steers Insurance is proud to have helped protect our Province’s commercial sector for generations – and we’re proud of our role in providing expert products and advice for today’s booming industry. Our reputation for providing total insurance service is second to none in Newfoundland & Labrador. From general insurance to bonding services for specific project needs, our experience and expertise are ready to help your business thrive.
We know what it takes to run a successful enterprise, and we understand the risks. We know how industry works – and how to respond to the unique commercial insurance requirements of owners, contractors and subcontractors. Not just for sound all-risk protection, but for specifics such as installation, contract bonds, and more.
We also know that time is money. Steers expert representatives are thoroughly trained and experienced to quickly evaluate your needs and recommend the best insurance products and services for your business or project. And as a 100% Newfoundland & Labrador-owned and operated company, we have offices operating right where you do business. From St. John’s to Grand Falls to Corner Brook to Labrador City – and everywhere in between – our seasoned insurance representatives are ready with a full range of comprehensive insurance services for every commercial enterprise.
With Steers Insurance, you’ll have the tools, the knowledge, and the commitment of leading insurance experts right at your fingertips. We can provide you with comprehensive insurance protection, designed specifically for the unique exposures you face. Contact Steers today for quality products, straight forward policies and outstanding service – all from a single source.
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Labour and Material Bonds
Builders Risk Insurance – including piers, wharves and docks
Comprehensive General Liability including Wrap-up
Contractors Equipment Floater and Automobile Fleets
Contact us today for your commercial insurance quote or to ask any questions. We’re ready with straight talk, expert advice and our legendary, rock solid Steers service.
It takes special expertise to prepare the many different bonds contractors are required to provide in the course of competing for and performing work. You want to be sure that the bonds you provide will provide the correct degree of security and fulfill the obligations of your contracts every step of the way.
Steers Insurance has the in-depth experience of long-standing professionals to offer contractors a complete, truly Canadian source of contract and miscellaneous surety products. Our surety experts understand your exposures through long involvement in the building industry, and are skilled at responding promptly and knowledgeably to your applications.
Once you establish a bonding facility, we can quickly provide any bonds you require to perform work in both Canada and the United States.
BID BONDS guarantee the good faith of the bidder.
AGREEMENTS TO BONDS guarantee the contractor will provide other required bonds within a specific time if awarded the contract.
PERFORMANCE BONDS cover obligations the contractor assumes.
LABOUR & MATERIALS PAYMENT BONDS guarantee payment of proper labour and material bills.
MAINTENANCE BONDS guarantee you will maintain contract conditions and provide extended warrantee on completed contract.
SUPPLY BONDS guarantee supply of goods or services.
LICENCE/PERMIT BONDS required by government bodies at all levels.
JUDICIAL BONDS including both fiduciary and court-required bonds
LOST DOCUMENTS BONDS requested when a stock or bond certificate is lost
VARIOUS MISCELLANEOUS BONDS
All-risk protection for the professional builder
For the builder whose financial risks grow as a project takes shape, Steers Insurance has access to the industry’s most flexible – and simplified – all-risk protection plans.
Our Builders Risk Policies provide contractors the strongest possible foundation to build on. Most importantly, we give you something only the experts do; plain, clear language stating exactly how you are covered.
This is true all-risk coverage at a competitive price – coverage that’s also tailored to meet your precise needs. Your policy can be designed with or without standard exclusions such as flood and earthquake, and offers a host of other inclusions and options. Take a look.
NO TESTING EXCLUSION – Don’t worry about a gap in coverage when ready to test machinery and equipment. You’re covered.
RESULTANT DAMAGE – Protects you automatically for resultant damage caused by errors in design, faulty workmanship or materials.
LOSS OF RENTAL INCOME – You can choose to be covered against the loss of rental income that results from a delay due to a covered loss.
SOFT COST COVERAGE – You may also want to extend your protection to cover specific expenses over and above projected costs – e.g. advertising and promotional expenses.
We offer specialized protection during installation. Steers Insurance access to programs for professional builders insurance can include important supplements to your all-risk protection: the industry’s most effective Installation Floaters.
Precisely when it’s needed, we can provide Installation Floaters that zero in on the risks you face during the installation of heavy machinery and equipment for all kinds of systems and assignments – plumbing, heating and air conditioning, electrical, and general construction.
One of the major advantages of some Installation Floaters is that, unlike others, they do not exclude the testing of systems and equipment. We understand that testing is an integral part of every job, so we can make sure you’re covered for all testing activities.
And, like all many of the construction policies Steers Insurance can secure for you, we can tailor your Installation Floater to suit your exact needs.
ALL-RISK OR SPECIFIC PERILS- You may wish to have your Installation Floater cover a full range of related risks while it’s in force. Or, if you have other types of coverage, you can design this floater to protect you against specifically named perils.
FAIR RATES FOR PERIODIC OR ALL-YEAR NEEDS – Whether you require your floater for a set time, a single project, or on a continuing (blanket) basis for several projects, we’ll work with you to design a coverage and rate structure that’s in line with expected needs. Rates are based on estimated values at the outset, and can be adjusted at the end of the project, or the year, when actual figures are known.
RESULTANT DAMAGE – You can be automatically covered for resultant damage that results from errors in the design or from faulty workmanship or materials.
We offer flexible coverage for equipment. Whether you work with earth movers, road builders or other heavy equipment, we have access to comprehensive Contractors’ Equipment Policies which include excellent equipment coverages that offer good basic protection at competitive rates.
We know that your equipment uses can vary widely from job to job and throughout the year. So, we’ve designed a set of coverages to answer all your needs. Protection can be arranged in one of several ways:
SCHEDULED – Equipment is itemized and protected either on an all-risk basis or against specific perils. For example, you may wish to cover equipment only against fire and vandalism.
BLANKET – Designed primarily for owners of several pieces of equipment, this policy offers the convenience of group coverage for all your equipment with one lump sum.
ANNUAL ADJUSTMENT – If your equipment values fluctuate often throughout the year, it may be more convenient to provide your current annual schedule. Premium is based on the coverage values.
You can augment equipment protection to suit different situations:
LEASED OR RENTED EQUIPMENT – can be covered on an estimated receipts basis.
RENTAL REIMBURSEMENT – helps keep you working with a rental allowance if your equipment breaks down.
EMPLOYEE TOOLS OR CLOTHING – covers any damage that might occur to employee-owned equipment.
BORROWED EQUIPMENT – covers you for damage caused to equipment on loan to you.
REPLACEMENT COST – available for items less than 3 years old.
PARTIAL-LOSS WAIVER OF DEPRECIATION – lets you regain the portion of the loss that would have been deducted for depreciation first, up to 20% of the actual cash value.