Contract Works Insurance
When you’re working on a construction site, plenty of things can go wrong. If you or your team cause damage or loss to a building, it could cost you time, money and even your reputation. Meanwhile, an onsite injury can result in considerable pain, stress and financial loss.
That’s why having the right amount and type of contract works insurance is an important part of your business toolkit, allowing you to get on with the job with less stress and worry.
Contract works insurance is recommended for small, medium and large commercial industrial and domestic builders, sub-contractors, and owner builders. Most owner builder take out contract works insurance for specific contracts, while professional builders general choose an annual policy that covers multiple contracts.
There are two types of contract works insurance policies:
- Annual Contract Works
- One off (Single) Contract Works
There are a number of sub-limits under these policies, such as:
- Principal supplied materials
- Transit Cover
- Mobile machinery & equipment
- Materials stored onsite/offsite
- Employee’s tools
This is general advice only, please refer to the policy wording for full details.
For more information please contact Australian Elite Insurance Solutions to speak with one of our specialist brokers.