Contract Works

Plenty can go wrong on a construction site. Having contract works insurance allows you to get on with the job with less stress and worry.

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Who should consider Contract Works protection?

Contract works insurance is recommended for small, medium and large commercial, industrial and domestic builders, sub-contractors and owner-builders.

Most owner builders take out contract works insurance for specific contracts.

Professional builders generally choose an annual policy that covers multiple contracts.

What can it cover?

Contract works insurance can cover the building which is under construction, whether it's a kit home, straw bale or mud brick home, multistory apartment or commercial building. It can also cover the equipment used in construction, as well as public liability risk.

Property damage

Physical loss or destruction of tangible property, plant and equipment as well as removal of debris.

Public liability

Sub-contractor liability, products liability and cross liability.

Product liability (only available from some insurers)

Third party personal injury or property damage resulting from an occurrence caused by your products after they cease to be in your possession or control.

Legal expenses/defence costs

Legal costs and expenses you are legally liable to pay following legal proceedings brought by or against you.

Existing structures (optional cover)

Sudden and accidental physical damage to existing structures caused by natural events and the actions of the builder or contractor.

Case Study

Scenario: You start your own small earth moving firm. In the first couple of years, you borrow money and invest much of your income back into the business, buying the latest equipment and a work vehicle. After starting work on a new construction at a new site, you leave your tools and equipment locked in a garage on the site overnight. But that night, thieves break into the garage and steal your tools, worth $25,000.

Outcome: You contact your insurance broker who helps you put in a claim. You are quickly reimbursed for your loss, so you aren't out-of-pocket and can keep your business running.

*Disclaimer: The information contained in this case study is used only for the purpose of illustration. Individual circumstances, insurance and coverage may vary.

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