Contractors All Risk Insurance

Contractors All Risk Insurenace is an essential policy to have in place if you are a building contractor or a developer.

This will cover you for the structure that is currently being worked upon, for example if it is an extension of the current structure or if you are building a new property it will apply to that structure from start to finish.

Unlike a standard Public Liability policy (which will only cover tradesman for damage caused to third-party premises (existing structure)) Contractors All Risk Insurance will cover any damage caused to the building works, for example if there is an unexpected flood, storm, or fire, or even poor workmanship. This gives you peace of mind for your project, knowing that if anything goes wrong that you have adequate protection in place.

Why do I need Contractors All Risk Insurance

If a Building Contractor held only a Public Liability insurance policy and there was a fire, causing serious, if not fatal damage to the work outside of the original structure, then the insured would not be covered and may even be forced into liquidation. Yet, if the insured had taken out a Contractors All Risk policy (or a contract works insurance or a contractors combined insurance policy), then they would have been covered, as mentioned in their contract works section. Moreover, Contractors All Risk Insurance (in contrast to regular Public Liability Insurance) also includes cover for future claims made about work previously carried out by the insured.

So if you are looking for this type of insurance for your project, then please get in touch today to speak to one of our team!