Contract works insurance (also known as construction works insurance) safeguards against the financial implications of injury, loss, or damage during construction. SHC Insurance Brokers is increasingly the builders' and developers' partner of choice for commercial solutions, including contract works insurance solutions.
About contract works insurance
Contract works insurance covers building works in progress, should loss or damage occur during construction. Insurance can be arranged specifically for each project or as an annual policy covering all projects undertaken with the insurance premium paid on works turnover.
What It Covers
Contract works insurance covers the building under construction, including the equipment used, as well as public liability risk. It can also cover renovations to an existing structure during the construction process.
Contract works insurance protects the property, equipment, and builder/ developer liability.
Type of cover
Potential benefits
Property damage
Physical loss or destruction of tangible property, plant and equipment as well as removal of debris.
Public liability
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.
Who should consider a contract works insurance policy?
Contract works insurance is recommended for small, medium and large commercial, industrial and domestic builders, sub-contractors and owner-builders in the building and construction industry. Most owner-builders take out contract works insurance for single project cover or one construction project, while professional builders generally select an annual policy that covers multiple contract works.
Get covered with confidence
Get in touch with a contract work insurance specialist today.
