When it comes to your building project, you may need to consider taking out JCT insurance. This is in addition to ensuring that the contractor has public liability and contractor’s all risks insurance and that any professionals you appoint (such as an architect or surveyor) have professional indemnity insurance. Continue reading “What is JCT Insurance and Why Do I Need it”
It’s been a busy few months for Construction Insure’s campaigning MD Mark Herbert with widespread media attention for his efforts to improve practices within the construction and building insurance sector. Continue reading “What The Press Say”
Latent defects insurance ensures that you are covered for any faults or defects that are uncovered after completion of your project, these issues may not be visible for many years and a latent defects claim can prove to be very expensive. Continue reading “What is latent defects insurance and why do I need it?”
This week at Construction Insure we have placed cover for a North London Building Contractor called Refurb It All Ltd, which is run by Sanjay and Zena Nairi. The business which is going from strength to strength, specialising in refurb, new build, lofts and extensions, came to us to make sure they were covered adequately and to see if we could offer a more competitive rate. Continue reading “Contractors Combined Insurance – Refurb IT All Ltd”
Due to us having a wealth of knowledge in the construction industry, we use a panel of 10 insurers which we have selected, who are all approved by everymajor lender (stated in the Council of Mortgage Lenders Handbook) and provide building warranty insurance. Continue reading “Why use Construction Insure for Building Warranty Insurance”
An example of requests we receive from Architects re arranging insurance for developments:
At Construction Insure we work alongside many Architects and below are a few examples of some of the requests they ask us to deal with to help them place property developer’s insurance for their clients. Continue reading “Property Development Insurance for an Architect’s Project”
Every week without fail we are speaking to builders who are under insured. When speaking to them about building contractorsinsurance it is becoming more and more apparent that building contractors think that public liability is enough to cover them.
The issue is there are different types of building works that building contractors carry out, so let’s break it down into 2 different sections. Continue reading “Building Contractors still failing to insure their businesses adequately”
Removation Insurance Case Study
Project: Full renovation of property including removal of several walls, reconstruction of rear extension.
Project value: £1,000,000
Products taken up: 1) Existing Structure undergoing works insurance, 2) Contingent liability insurance & Contract Works Insurance, 3) JCT 21.2.1non negligence insurance, 4) Performance bond and 5) Building Warranty. Continue reading “Renovation Insurance case study for a residential dwelling”
A recent Property Developer Insurance policy we placed was for a development in Aberdeen. The property was purchased by the developer 2 years ago to renovate and sell. The property developer did the refurb and placed the property up for sale. Unfortunately the property was not selling, so she decided to take it off the market and apply for planning permission instead.
The planning permission was to turn the chalet style house into two flats. After a 12 month period she finally got the planning and thats when Construction Insure were contacted to advise on the relevant insurances she might need. Continue reading “Property Developer Insurance for a Development in Aberdeen”
It always amazes me just how many contractors trade happily, sometimes with, but more times without the knowledge that they are not adequately insured for the works they are carrying out. We are not talking about small contractors here with turnovers of 50-100k, but also large building contractors with turnovers of 3-4 million.
We had a great example this week of a building contractor with a 4 million pound turnover who was paying for just an expensive piece of paper Continue reading “Educating Building Contractors on the importance of having Contractors All Risk Insurance”