What is a JCT 5.4B Insurance
A JCT (Joint Contracts Tribunal) Contract has variations that can seem confusing. For instance, a JCT 5.4B requires that the developer and contractor are both named on the building insurance and also named jointly on the Contractors All Risk policy or Contract works policy. In other words, there needs to be a policy in place that makes both the developer and the contractor responsible for insuring the project. This can, in fact, be specified on the builder’s existing contract. The key point is that the policy must cover the entire cost of the build. Alternatively, you could opt for a separate policy that names both parties, but you will then have to ensure your buildings insurance policy also names both parties. These types of policies can get complicated, and some home insurers are reticent to get involve. But we have access to insurers who will comprehensively cover the project to make sure all parties are financially protected.
There are various types of JCT that may be more applicable to your project. We’ll give you the guidance you need to make sure you get the correct one. There is a short explanation of the different variations below.
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