Construction projects can be complex, involving many different business and regulatory interests, often bringing together large numbers of people from different backgrounds, including developers, tradies, contractors, and inspectors.
Such projects can face a variety of risk factors in the form of natural disasters, to fire, to vandalism and theft, to on-site injury or accidental death.
This is exactly why you need comprehensive Construction Insurance.
Construction Insurance (also known as Contract Works Insurance, Construction Works, and Construction All Risk Insurance) helps ensure all parties involved in the various phases of a construction project are adequately protected, from the commencement of construction to final completion.
Single or Annual Contract Works Insurance is designed to provide cover for a single project or on an annual cover basis. In other words, there are 2 main types of insurance:
Single-project policy: Coverage for individual, one-off construction projects.
Annual policy: Coverage for multiple developments over a 12-month period.
The main kinds of coverage that people tend to seek in relation to construction insurance will generally include:
Cover against damage for owners, builders, and developers
Third party liability
Insurance for injuries to constructions workers
Insurance for damage to other properties
Construction site damage due to natural disaster
Plant, machinery, tool, and equipment damage or loss
Since no two construction projects are the same, insurance products should reflect a tailored approach.
Specific coverage policies for construction projects can come in many different forms, but that doesn’t mean it needs to be a complex choice.
We make it a point of different in our approach to really take the time to get to know you, understand your business situation and project requirements, and then provide flexible options for the type of coverage that best applies to your construction situation.
With a combined 200+ years experience, our highly qualified experts understand the importance of insurance across all aspects of business and provide innovative insurance solutions.