Contract Works Insurance

Contract works insurance provides cover against risks associated with civil, commercial and residential construction projects.

These policies are 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.

Typically, a Contract Works 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

On a construction site there are a number of scenarios where loss and damage to a building project can occur, including storms, fires, earthquakes, water damage, malicious damage and theft, to name a few.

A good Contract Works Insurance policy should also provide cover for the costs of demolition, removal of debris and other fees associated with restoring the site to a workable state.

Some Contract Works Insurance policies also include cover for tools utilised on site plus hired in plant and other mobile equipment. If you have a contractual obligation to policy can extend to provide this cover.

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