Builders Insurance – Construction & Public Liability
Builders Construction & Public Liability Insurance
Builders Insurance
Builders Insurance or Construction and Public Liability Insurance or Contract Works protects builders in the building professional against accident or damage caused by negligence or unforeseen occurrences.
It does not matter how good a builder you are, things happen which are totally out of your control. It is for these situations that we all need the right builders insurance cover.
What’s included in the Policy:
- Annual turnovers up to $50 million and a limit of $15 million on any one contract
- Escalation of Construction Cost
- Professional Fees
- Expediting Expenses
- Removal of Debris; and Off-Site Storage and Transit
- Maintenance periods – 12 mths as standard
- Minor – Plant, Tools
- Minor – Plant, Equipment
- Existing Structures
- Financiers Interest
- Vacant Land; and Projects already commenced
Why choose BuildSafe?
- The New Deal is an industry insurance initiative launched by BuildSafe Insurance Brokers. As the name says, BuildSafe are structured to ensure your business has maximum cover at realistic rates. As a brokerage specialising only in building insurances, BuildSafe are able to maintain an appreciation of what is on offer from the insurance companies, large and small. So contact us on 1300 856 603 or send us a quote
Remember…
There are two types of Builders Insurance – Construction and Public Liability:
Annual Blanket Policy
This insurance product offers blanket Public Liability to the builder and Contract Works insurance for all jobs for a nominated period up to 12 months. Cover is based on annual turnover with options of Annual Turnover Basis and Project Run-Off Basis.
Project Specific Policy
This insurance product offers cover for a specific project.
BuildSafe Insurance Brokers provide specialised insurance for builders…
FAQ's
Got a Question about Owner Builder Home Warranty Insurance? We’ve got the Answer!
Having public liability insurance is a necessary part of running a business in the construction industry. Our Policies can cover you for public and product liability, meaning you are covered from a third party injuring themselves during the course of your work and protected for any damage cause by you to a third parties property. For example, for an accident that might occur during construction. Amounts of $5,$10 & $20 million are available. Imagine the financial hardship your business would suffer if you didn’t have the correct policy in place.
Products Liability covers your business for injury or damage to third party property resulting from a faulty ‘product’ after your work has been deemed completed.
This is a Policy for one project and is taken out to provide cover on one specific job-site only.
This insurance product offers blanket Public Liability to the builder and Contract Works insurance for all jobs for a nominated period up to 12 months. Cover is based on annual turnover with options of Annual Turnover Basis and Project Run-Off Basis
Yes, Tools cover anywhere in Australia up to $20,000 automatically included – discounts are available if less cover is required. Major plant and equipment is also available.
Many insurers will not offer cover under a Construction and Public Liability insurance policy if the works have commenced on site. In most circumstances we can depending on the stage of works and length of time the project has been going. It is very important to arrange insurance coverage prior to works starting were possible.
Did you know that nearly all House & Contents insurance doesn’t cover a home owners public liability if the value of the works is over $50k? You need to extend to your contract works policy to cover their existing structure. The home owner thinks you are covering them!!
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