For Canadian insurance brokers · Property coverage

Tariff TIV Rider: reviewing building insurance values

The Tariff TIV Rider is a short-term option to review and, where appropriate, increase the insured value of a building when tariff-related reconstruction costs may have changed. It can be discussed across eligible property policies, not only construction risks. Start with the building’s current replacement cost and ask your SPG Canada underwriter to review the request.

Ask for a building value review↓ Download the brochure (PDF)

You can also contact your SPG Canada property underwriter directly.

Why review the value now?

Canada’s counter-tariff list includes selected building materials, including specific steel, aluminum, plywood and carpet classifications. Tariff rates and the effect on reconstruction costs differ by material and by building. The practical question for a broker is whether the insured value still reflects what it could cost to rebuild after a covered loss.

Statistics Canada reported that non-residential building construction costs rose 3.5% year over year in the second quarter of 2026. That is market context, not a recommended increase for any individual policy. A current replacement cost assessment remains the starting point.

How the Tariff TIV Rider works

SPG Canada’s broker sheet describes a temporary increase to the building’s total insured value (TIV), with a two- or three-month term and pro-rata premium. The request goes to an SPG Canada underwriter for a review of the building, existing policy and proposed value. The rider may be considered for a further short term if conditions continue, subject to the approved wording and underwriting decision.

Review the buildingCheck the latest replacement cost estimate, insured value and materials that could affect a rebuild.
Contact your underwriterShare the policy and building details, current TIV, valuation date and reason for requesting a review.
Confirm the termsThe underwriter will confirm whether the policy qualifies, the appropriate adjustment, premium and effective period.

This is a building property value discussion. It does not automatically change limits for contents, stock, equipment or business interruption, and it is not a substitute for a sound baseline valuation.

Have a building to review?
Send the existing policy number, location, current building value and latest replacement cost information to your SPG Canada underwriter. You can also email info@spgcanada.ca or call 1.877.532.6864.

Coverage is subject to the terms, conditions, limitations and exclusions of the applicable policy and any approved endorsement. This article is for brokers and does not amend policy wording or confirm eligibility for an individual risk.

By SPG Canada

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