Contract Works
Insurance
- what's covered
Contract Works Insurance provides protection for construction projects against accidental physical loss or damage during the course of building, renovation or installation works. It typically covers the contract works themselves, construction materials, temporary structures and, where required, principal-supplied items, for risks such as fire, storm, theft, vandalism and accidental damage.
Policies can also include optional cover for public liability, existing structures, construction plant and equipment, debris removal, professional fees and delays resulting from insured events, helping protect contractors, builders, principals and subcontractors throughout the project.
Material Damage
A construction site is full of value long before the project is finished, and a single event can undo months of work. Material Damage cover is the core of a contract works policy, protecting your project against physical loss or damage during the build.
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It covers the works themselves, along with existing buildings, materials, machinery and equipment on site, against perils including fire, theft, malicious damage, storm, hail, cyclone, flood and accidental damage, so a setback on site doesn’t become a loss you carry alone.
For full details of the Product Disclosure Statements, please contact us.
Public and Products Liability
Building work brings you into contact with the public, neighbouring property and the people around your site. Public and Products Liability covers your legal liability if your work causes bodily injury to a third party or damage to their property.
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It responds to the defence, legal and compensation costs that follow a claim, and is commonly packaged alongside material damage in a contract works policy. For most projects it’s an essential companion to the cover on the works themselves.
For full details of the Product Disclosure Statements, please contact us.
Removal of Debris
When damage hits a site, the cleanup is a cost in itself before rebuilding can even begin. Removal of Debris cover meets the expense of clearing and disposing of debris from your site following insured damage.
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It’s a practical extension that recognises the real cost of getting a damaged site ready for reinstatement, covering the site clearance work that has to happen first, so the cost of clearing the way doesn’t come out of your own pocket.
For full details of the Product Disclosure Statements, please contact us.
Professional Fees
Repairing insured damage on a project often means bringing the experts back in. Professional Fees cover meets the cost of architects’, engineers’ and surveyors’ fees incurred in repairing insured damage to the works.
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When a loss requires redesign, certification or supervision to put right, these fees can be substantial. This extension ensures the professional input needed to reinstate the works properly is covered alongside the physical repair, so the full cost of recovery is accounted for, not just the building work.
For full details of the Product Disclosure Statements, please contact us.
Escalation and Variations
Construction costs rarely stand still across the life of a project. Escalation and Variations cover accounts for the additional value that comes from cost rises and scope changes during the build. As material prices climb or the contract changes, the value at risk on your site grows with it.
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This extension keeps your cover aligned with the real, current value of the works, so you’re not underinsured when inflation or a variation pushes the project’s value beyond its original sum insured.
For full details of the Product Disclosure Statements, please contact us.
Materials in Transit
Materials are exposed from the moment they leave the supplier, well before they’re built into the works. Materials in Transit cover protects the materials for your project while they’re being transported to site, including loading and unloading.
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For projects relying on a steady flow of materials, a loss in transit can stall progress just as much as damage on site. This extension follows your materials along the journey, so a setback before they arrive doesn’t hold up the build.
For full details of the Product Disclosure Statements, please contact us.
Principal-Supplied Materials
On many projects, the principal supplies materials for the contractor to incorporate into the works. Principal-Supplied Materials cover extends your policy to materials free-issued by the principal that the contract makes you responsible for.
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Where your building contract puts these items in your care, this cover ensures they’re protected against loss or damage the same way your own materials are, so responsibility for someone else’s materials doesn’t become an uninsured exposure on your project.
For full details of the Product Disclosure Statements, please contact us.
Maintenance / Defects Liability
A project’s risk doesn’t end the day it’s handed over. Maintenance, or Defects Liability, cover responds to damage occurring or discovered during the defects liability period after completion. Once the works are handed over, you often remain responsible for putting right damage that emerges in the agreed maintenance period.
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This cover extends your protection past practical completion into that period, so obligations that continue after the build is finished don’t leave you exposed once the main cover ends.
For full details of the Product Disclosure Statements, please contact us.