Contract Works - Jefferson Insurance Group - Business Insurance Experts

Don’t step onto a site without cover for your contract works

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.

Who Should Consider It? What Can It Cover? Case Study Downloads

Who Should Consider It?

Contract works insurance is recommended for small, medium and large commercial, industrial and domestic builders, sub-contractors, and owner-builders.

Most owner builders take out contract works insurance for a specific contract, while professional builders generally choose an annual policy that covers multiple contracts.

What Can It Cover?

Contract works insurance can cover the building which is under construction, whether it’s a kit home, straw bale or mud brick home, or multi story apartment or commercial buildings. It can also cover the equipment used in construction, as well as public liability risk.

Depending on your policy, contract works insurance can cover you against:

Natural disasters, such as bushfires, fire, earthquakes, flood and water damage, subsidence and landslip, storm, tsunami or wind
Damage to property caused by defects, theft and malicious damage or vandalism
Smashed glass
Public and products liability insurance, plus extra related costs
Third-party personal injury or property damage, as well as extra costs like replacing builder’s tools, escalation or removal fees

What isn’t covered?

There are exclusions. There is also often a deductible or excess and limits on cover.

Case Study

After working for other construction company owners all his working life, Craig starts his own small earthmoving firm. In the first couple of years he borrows money and invests much of his income back into the business, buying the latest equipment and a work vehicle.

After starting work on a new construction at a new site, he leaves his tools and equipment locked in a garage on the site overnight. But that night, thieves break into the garage and steal Craig’s tools, worth $25,000.

Craig contacts his insurance broker who helps him put in a claim. He’s quickly reimbursed for his loss, so he isn’t out of pocket and can keep his business running.

Downloads

There are many reasons to get in touch with us

Flexible payment options

When it comes time for payment, there are various options available to help improve your cash flow.

Not all policies are the same

You generally get what you pay for. But we'll do the hard work for you, source options, and make recommendations most suitable for you.

We can access more insurers

Including those who don’t deal with the general public therefore providing more options for your consideration ensuring you get the best level of cover available.

Don’t wait until it’s too late!

Insurance can be complex and confusing and there are many things to take into consideration. Contact us today to discuss your insurance needs.