Construction Insurance, also known as Contract Works Insurance, provides cover for the registered builder, contractor or owner builder against damage to the building works during the construction period.
The policy provides cover for events such as fire, storm, malicious damage and theft from the site. Cover can also be extended to include Public Liability, Contractors plant & equipment and damage to existing buildings.
Insurance can be arranged for specific projects under a single projects policy or as an annual projects policy covering all projects under a run-off or turnover basis.
Run-off Basis -
Projects commenced during the Policy Period and insured until completion
Turnover Basis -
Projects undertaken during the Policy Period and insured until the Policy Period ends
Prior to commencing any residential, commercial or civic building works, ensure you have a construction insurance policy in place.