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 buildings. It can also cover the equipment used in construction, as well as public liability risk.
Depending on your policy, contract works insurance can cover you against:
|Type of cover
|Physical loss or destruction of tangible property, plant and equipment as well as removal of debris.
|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.