Contract Works Insurance

Contract Works Insurance or Construction Insurance provides comprehensive cover for builders for construction risks. It protects your construction projects against natural disasters like storm, bushfires etc. along with the public liability insurance component.

Contract Works Insurance can be taken out for individual projects or as an annual policy extending over all the projects that you have going.

CoverTradie has a range of insurers on their panel who provide solid cover at very competitive prices for this insurance. We do obligation free quotes.

Who needs Contract Works Insurance?

Contract Works Insurance is very important for any builder whether big or small, work in the commercial or domestic space or even if you are an owner builder. Think of a situation where you are building a home and it is in its final stages of completion. A big storm causes a large gum tree to come crashing through the roof causing significant damage. Contract Works Insurance will cover the damage and provides protection against other such situations too.

As a builder, the contracts usually hold you responsible for unfinished work, which means if the work is unfinished due to an event like fire, storm, water damage, bushfire etc. without insurance you will be the one held responsible for it and may suffer a loss. As a builder, you will be often required to provide a Certificate Of Currency for this insurance before you are able to secure the contract to construct.

How much does Contract Works Insurance Cost?

Fortunately, insurers are competing against each other to win your business keeping the prices in check. Individual pricing for this cover depends on things like what is the size of your biggest contract, what is your turnover likely to be, along with if you have had any claims history or even things like if your projects are located north of 25th or 26th parallel.

There is a large market for Contract Works Insurance with competition from both Australian insurers along with Lloyds underwriting agencies.

CoverTradie can get many comparative quotes for any sized business and help find the right cover at the right price. We do free quotes with no obligation to buy.


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