Contract Works or Construction Insurance provides insurance cover against risks associated with civil, commercial and residential construction projects.
These insurance policies are typically designed to assist licensed builders and contractors to meet their contractual obligations to insure a building project (and materials on site) against loss or damage from fire, theft, subsidence, vandalism, and other perils.
Domestic owner builders who are building a new house or carrying out renovations may also need Construction Insurance
Construction sites are usually covered for events like storms, fires, earthquakes, water damage, malicious damage and theft, which delay the ongoing works. The policy usually also covers cover for the costs of demolition, removal of debris and other fees associated.
Typically, a Construction Insurance policy will cover:
- Loss or Damage to the insured construction project
- Loss or damage to third party property
- Personal Injury to a third party person
To discuss all your Construction Insurance needs and to get a fast, competitive quote, call our expert Business Broking Team on 1300 PROFIN (1300 776 346).