Planning on undertaking your own construction project? You might have to consider Contract Works Insurance. Though this insurance is similar to Public Liability Insurance in some way, it will provide the additional coverage needed for those running their own projects instead of subcontracting the works to others.
Whether you’re a builder or a tradie, SD Insurance Brokers can help you with the contract works cover you need.
And when you’re ready to request a quote, contact SD Insurance Brokers online or just call us on 40330254.
About Contract Works Insurance
This insurance is sometimes referred to as “Construction All Risks Insurance”. It is a type of insurance cover that can safeguard a builder from a broad range of events or a principle contractor on a large construction site.
Like we previously mentioned, it is, in many ways, quite similar to Public Liability Insurance, in addition to which it has some major benefits.
Public Liability provides insurance only for property damage or personal injury caused due to negligence, whereas Contract Works also covers a range of risks that are beyond your control.
Here are some of the risks covered.
- Property Damage or Personal Injury to other persons
- Loss or damage to your project due to fire, storm, cyclone and a range of unforeseen risks
- Loss or damage to materials from the work site
Depending on which insurer you are buying the insurance from, some more additional risks may be covered. For more in-detail information, please talk to SD Insurance Brokers about your Contracts work insurance needs on 07 40330254 or fill in the Online Quote today!
Who needs Contract Works Insurance?
Builders are major insurers for this type of Insurance on principle contractors on large construction sites. This is why SD Insurance Brokers refer to this as Builders Contract Works Insurance.
But besides builders, anyone in the building and construction industry should consider this insurance, especially if they are planning to run their own project or are the principle contractor for a major project. Most government contracts now require the principal contractor to have this policy to get onto the job site.
These projects include everything from renovations and alterations through to completely new house or building construction of a commercial nature.
If you are a subcontractor, you might not really require this type of insurance unless you are running your own side projects or the principle contractor with subbies under you.
Don’t be in doubt whether you may or may not benefit from this form of insurance – we sincerely suggest that you talk to one of our experts right away. Call SD Insurance Brokers or complete the Online Quote Request and one of our experts will get back to you.
Does Contract Works Insurance replace Public Liability Insurance?
You might not need both forms of cover if you purchase the right Contract Works Insurance policy. In some cases, this policy can completely replace a Public Liability Insurance policy, but you are best to seek advice from SD Insurance to be sure.
But the important part is that you choose the right policy that ensures you are fully covered. Hence, we strongly suggest speaking to one of our experts, before you decide not to take out a separate Public Liability Insurance cover, and we will make sure that you are not exposed in any way. Call SD Insurance Brokers on 07 40330254 or complete the Online Quote Request and we will get back to you.
Contract Work Insurance Policy Types
There are two main types of Contract Work Insurance that are available.
The first is an Annual Policy that covers all the construction projects you might undertake in an annual year. The second type covers a Single Project.
Besides these two main types, every insurance company has their own type of policy cover, each of which is slightly different. Some might include tool cover in their Contract Work Policy. Among those that do, some will only offer tool cover whilst onsite, and the others offer tool cover for both on-site and off-site situations.
You will be appraised of the nitty-gritties of such policies when you choose SD Insurance Brokers as your trusted brokers. We’ll make sure you’re getting the appropriate cover for all your needs.
How much does Contract Work Insurance cost?
There are many factors that determine the cost of the Contract Works Insurance. The major one is the estimated value of the project you plan on undertaking. The insurer will probably also want to know in-depth information and details related to your projects.
Make sure you provide all the required information when you request a quote in order to get an accurate idea of the cost. It is a good idea to provide the scope of works that will be undertaken or a copy of the tender document or contract so SD Insurance can provide you a quote.
We request you call SD InsuranceBrokersin order to get a quote on your Contract Work Insurance.
Alternatively, you can request a quote via the online enquiry, but we may need to call you in order to obtain all the details required to provide you a quote.
Be sure to obtain a quote before you tender for the job so that you can factor the insurance costs into your job.
So just talk SD Insurance Brokers on 07 40330254 who will be happy to discuss all your Contract Work Insurance needs.