Building Contractors Insurance
Building Contractors need to be given the knowledge from a construction broker to make sure they are covered for all of their activities. It is crucial everything is insured and there are no gaps in the insurance policy.
Whether it be a Contractors Combined insurance or a liabilities only insurance, Construction Insure are here to give you the correct advise on exactly what you will need.
- Contract Works Insurance
- Contractors Combined Insurance
- Own and Hired In Plant Insurance
Need Insurance? Get in touch today!
Whatever your building contractors insurance requirements, please get in touch today for a free no obligation quotation.
As you’re well aware, each building project or development is different. Each calls for a different set of skills and experience in a specific area of construction. Perhaps you specialise in new builds, commercial office blocks or prestige apartments or the smaller end of internal refurbishments.
What you need to be aware of is that, whichever business activities you carry out, they have to have been declared to your insurers. You may be involved at the earliest stages of a build, where demolition, soft strip or hazardous waste clearing is required. If you’re doing these jobs in isolation, as part of a build that is not your own, you have to inform your insurers this is the case. Otherwise, there is every chance that, if a claim arises, you will not be covered. Not just demolition, but this applies to any particular aspect of the construction industry, such as undertaking piling, underpinning or ground works, roofing or scaffolding.
Do you know which Building Contractors Insurance you need?
As far as your business goes, you may employ your own staff, or you may sub-contract all of your work out to construction companies. You may also use labour-only sub-contractors. It’s because there are so many different aspects to your industry, that it is vital you’re protected by the right insurance cover for the work you’re doing. Insurers look at each element of a build separately. You may have a Contractors Insurance in place, but that may not cover the actual work you’re involved in. It’s not a case of ‘one size fits all’ when it comes to getting the right policy for your business. You need a broker who understands the construction industry and, importantly, understands your particular part of it. At Construction Insure, we’ve been brokering insurance for the building profession for forty years. We know the right insurance companies to talk to, in order to safeguard you against the issues that can threaten your build and your livelihood.
GETTING THE RIGHT BUILDING CONTRACTORS INSURANCE
How does Building Contractors Insurance help you?
Whichever aspect of construction is your area of expertise, we know the best insurers to deal with in that area. Which is why we begin with listening to you and learning about your company and your projects, before finding you exactly the cover you need. For example, you may be a general builder, with standard cover for internal renovation works and public and employer’s liability cover. While this would cover you, and your employees or sub-contractors, for any damage to a third-party property, there are areas it leaves uninsured. For instance, your tools are a vital part of your business. If they’re lost, damaged or stolen, your work may not be able to proceed. We know, from experience, that insurers can be very specific about insuring tools.
Working with an Independent Insurer
But we know exactly who to speak to make sure they’re completely covered. Which means you have as little interruption to your work as possible. Another example is: you may have Liability Insurance for the refurbishment and internal works you’re doing on a property. But did you know, if you’re building extensions or constructing a loft conversion, you need a specific liability policy to cover you for work on areas that aren’t an existing part of a property? Without that specific insurance, you would be financially exposed for any damage, such as fire or water, to the new additions to the property. In this instance, we would recommend Contract Works and Contract All Risks Insurance as the best policies for you and because we are independent can find the right cover.
What else do you need to think about?
When you consider your insurance, you also have to take into account your client or customer. If things go wrong for them – even if it’s outside of your control – how will it affect you? For instance, there may be an issue with the work of one of the trades on your client’s build. If that contractor can’t to be contacted to put things right, your client may try to claim against the main builder, which could be you. And if you don’t have the right insurance to cover the costs, it could mean insolvency for your business. Which would mean disaster for yourself and for the future of your client’s build. Which is why, when we discuss what’s the best insurance for you, we make sure it’s the best insurance for your client. That may be, for example, Contractors Work or Contractors All Risk, which apply for new builds and work on commercial premises, as well as loft conversions and extensions. And you may also need liability policies to protect you financially.
How do you get the right advice?
If you’re a property developer, or even a home owner, it’s essential that you know the policy your builder has in place, in order to make sure the work is completely covered. But we’ll work with you ensure you’re safeguarded from the outset. We want to protect you and your business from being exposed to financial or legal issues that could, potentially, ruin your livelihood. If you’re underinsured, any dispute, with a client could cause you major financial problems, just in legal costs alone. We’ll work with you to determine which type of general, liability or indemnity insurance is right for your project. We have the knowledge and experience to make sure that, if the worst happens, you’re financially protected to the fullest extent. Please call us on 020 3958 6868 so we can discuss your requirement with you. Then we can get you the cover that’s right for you.
WHAT OUR CLIENTS SAY
" Comparing like with like plus some lower excesses you have managed to save me in excess of £1500 or approximately 15% on my previous insurer. "
- Hew Stevenson
" We found you to be more thorough, efficient and reasonably priced than our existing insurer. We would not hesitate in recommending you to anyone."
- Zena Nairi LLB (Hons)