Construction and Contract Works Insurance
Unveiling the Scope of Construction and Contract Works Insurance
Understanding the potential financial implications of unexpected events during a construction project is vital:
Physical loss or property damage can set back projects significantly, incurring high recovery costs.
Third-party claims can arise, leading to potentially significant financial implications.
Natural disasters, fires, or accidents can cause extensive damage, halting the project.
Our comprehensive Construction and Contract Works Insurance helps mitigate these risks, ensuring your project remains on track despite unforeseen events.
The Importance of Constuction and Contract Works Insurance
Construction and Contract Works Insurance covers various financial losses associated with damages or loss during a project, such as:
Discover the Coverage Available to Protect Your Projects
At Elliott Insurance, we work closely with you to create an insurance plan that suits your unique needs. Our coverage options include:
Customized Insurance Solutions for the Construction Industry
Contract Works Insurance Coverage for loss or damage to construction projects.
Third-Party Liability Protection against liability for personal injury and property damage.
Contractors Plant & Equipment Insurance Coverage for tools and unregistered plant machinery such as excavators, cranes, bobcats, scissor lifts, hand tools, loaders, forklifts, and more.
Professional Indemnity Essential for construction professionals and builders involved in design & construction projects, it offers protection concerning incorrect advice, design, or specification.
Additionally, we understand that construction businesses need more than just construction-related coverage. They also need to be prepared for the regular risks
Associated with running a business
Workers Compensation Cover Coverage for employee injuries incurred on the job.
Cyber Insurance Protects against losses resulting from cyber threats like hacking, extortion, data privacy breaches, and system damage.
Office Contents and Property Insurance Protects your office property and contents against damage or loss.
Directors & Officers Insurance Protection for your company's directors and officers against potential liabilities.
Statutory Liability Cover Includes health & safety investigation and defence costs.
Employment Practices Liability Cover Coverage for claims related to employment practices.
Crime-related Coverage Covers costs related to crimes, including employee theft of money, property, or securities.
Motor Vehicle Insurance Coverage for your company vehicles against damage or loss.
Corporate Travel & Personal Accident Insurance - Provides protection for business-related travel.
Construction and Contract Works Insurance is vital for a broad range of professionals involved in the construction industry such as: Commercial or residential builders, Developers, Architects, Trade contractors, Civil contractors, Consultants, Land and building surveyors, Quantity surveyors.
Our tailored insurance solutions offer comprehensive protection for your construction-related activities.
Frequently Asked Questions
The cost of Construction and Contract Works Insurance is determined by a range of factors including the type of construction, the location of the project, the total value of the project, the duration of the project, and the type of coverage required.
Yes, your Construction and Contract Works Insurance can be structured to include coverage for damages caused by subcontractors. It's important to review your policy terms and conditions to ensure the scope of coverage is appropriate for your operations.
Some policies may offer an extension for 'Delay in Start Up' or 'Advanced Loss of Profits' which can provide coverage for additional costs or loss of income due to unforeseen delays in construction. However, the specific terms and coverage can vary greatly between insurers, so it's always best to check with your provider.
It's recommended to review your insurance coverage at least annually or when significant changes occur in your business operations or projects. Regular reviews ensure your coverages remain adequate and appropriate for your evolving business needs
Other Insurance Covers
Public & Products Liability
Plant & Equipment Insurance
Professional Indemnity
Workers Compensation Insurance
Construction & Contract Works Insurance
