Contingent Public Liability Insurance
Contingent Public Liability Insurance covers you in situations where, after an injury to a member of the public or damage to their property, your contractor’s or builder’s insurance fails to pay out. It protects you when another policy has been invalidated.
What is Contingent Public Liability Insurance?
When you’re involved with a construction project, it makes sense to build in contingencies. You know there’s a chance the build may go over budget, so you build a contingency into your costings to ensure there’s a little more money available if it’s needed. You’re aware, from experience, that projects can go over their estimated time, so you add a little extra, where you can, to your timing plan to allow for some slippage. In other words, you safeguard yourself. Contingent Public Liability cover is designed around exactly the same idea. It’s insurance that comes into effect when another policy has failed. It’s a built-in safeguard that protects you when you need it the most. Like budget and time contingencies, you hope you don’t have to use it, but it makes good financial sense to have it, just in case you do. The alternative may be finding yourself liable for a claim against you that could amount to millions of pounds, ruining your livelihood. At Construction Insure, we help protect the construction industry by recommending and broking the policies we know will look after your interests and you finances.
Need Insurance? Get in touch today!
Whatever your contingent public liability insurance requirements, please get in touch today for a free no obligation quotation.