Contract Works Insurance
Contract Works Insurance is a specialised policy designed to protect construction projects against risks such as damage, theft, and unforeseen events that can occur during the course of building or renovation work. This insurance covers the cost of repairing or redoing work that is damaged or destroyed before completion, ensuring that your project stays on track and within budget. Becks Insurance Brokers in Brighton offer tailored Contract Works Insurance solutions, providing peace of mind for contractors, builders, and property owners involved in construction projects of any size.
Comprehensive Protection for Construction Projects
Whether you’re working on a small home renovation or a large commercial construction project, Contract Works Insurance is essential for protecting the work in progress. This policy ensures that, in the event of an accident or disaster, you won’t be left bearing the financial burden of starting over. It covers everything from materials and equipment to partially completed structures, making sure that your investment is secure until the project is handed over.
Features and Benefits
All-Risks Cover: Provides comprehensive protection for your construction project against risks like fire, theft, vandalism, storm damage, and accidental damage, ensuring that all aspects of the work are covered.
Materials and Equipment Cover: Covers the cost of replacing or repairing materials, tools, and equipment that are stolen, damaged, or destroyed on-site.
Public Liability Insurance: Protects against legal costs and compensation if a third party is injured or their property is damaged as a result of the construction work, ensuring you’re protected against costly claims.
Employee Tools Cover: Extends cover to the tools and equipment owned by employees, ensuring that their essential gear is also protected while on-site.
Contractual Obligations: Ensures that your insurance meets the specific requirements outlined in contracts, providing protection that aligns with your contractual obligations.
Professional Fees Cover: Covers the cost of architects, surveyors, and other professionals needed to redesign or replan the project if an insured event requires you to start over.
Hired-In Plant Insurance: Provides cover for plant machinery and equipment that you hire for the project, ensuring you’re not liable for damage or loss of hired items.
What is Typically Covered?
Contract Works Insurance typically provides coverage for a range of risks associated with construction projects. Typical cover might include:
Work in Progress: Protection for partially completed structures, ensuring that any damage or destruction during construction is covered, allowing the project to continue without financial loss.
Materials and Equipment: Covers the cost of replacing materials, tools, and equipment that are damaged, stolen, or destroyed while on-site or in transit.
Public Liability: Provides protection against claims from third parties for injury or property damage caused by the construction work.
Employee Tools: Covers tools and equipment owned by employees, ensuring their personal items are protected while on the job.
Professional Fees: Covers the additional costs of professional services required to restart or redesign the project following an insured event.
Hired-In Plant: Provides cover for plant machinery and equipment that is hired for the project, ensuring you’re not out of pocket for any damage or loss.
Exclusions might include damage due to faulty workmanship, wear and tear, or specific activities not disclosed in your policy. The specific terms and conditions will vary depending on the nature of your project and the insurer. Becks Insurance Brokers will work with you to tailor your Contract Works Insurance policy, ensuring comprehensive protection that meets the unique needs of your construction project.
To secure your construction project against unexpected risks, book an appointment with one of our specialists here or arrange a quotation here.
