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Contract Works Insurance

Contract Works Insurance, also known as Construction All Risks Insurance, is designed to cover builders and tradespeople for loss or damage to building works under construction. It is essential for managing the risks associated with construction projects, from minor renovations to major new builds.

Get a quote Speak with a broker

Contract Works Insurance, also known as Construction All Risks Insurance, is designed to cover builders and tradespeople for loss or damage to building works under construction. It is essential for managing the risks associated with construction projects, from minor renovations to major new builds.

For more information, feel free to contact Warren directly at warren@broadrisk.com.au or call him on 0422 131 401.

What is Covered:

  • Material DamageCovers unforeseen loss or damage to the construction works, materials, and equipment during the project.
  • Theft and VandalismProvides coverage for theft of materials or damage caused by vandalism on the construction site.
  • Public LiabilityProtects against third-party claims for injury or property damage related to the construction works.
  • Tools and EquipmentCovers the contractor’s tools and equipment if they are lost, stolen, or damaged.
  • Extension of CoverageMay include coverage for off-site storage, transit to the construction site, and debris removal following a loss.

What is Not Typically Covered:

  • Defective Design or WorkmanshipLosses due to poor design or faulty workmanship are generally excluded, although resultant damage may be covered.
  • Wear and TearStandard wear and tear or deterioration of tools and equipment is not covered.
  • Cost OverrunsAdditional costs that exceed the original project budget are not covered unless caused by an insured event.
  • DelaysFinancial losses due to project delays, unless caused by an insured peril, are typically not covered.
  • Contractual PenaltiesPenalties for not completing the work on time are not covered unless due to an insured event.
  • War and TerrorismMost policies exclude damage due to war, terrorism, and similar events unless specifically included.

Frequently Asked Questions

What do you need to provide a commercial insurance quote or review?

The fastest way is to send your current policy schedule(s) and renewal date, plus a brief outline of your business activities, turnover, wages, locations and any claims history. If anything else is needed, we’ll tell you exactly what and why.

What industries do you specialise in?

We aim to respond within 1 business day to confirm next steps. Quote timing then depends on the complexity of the risk and insurer turnaround, but we keep communication clear and fast throughout.

Updated

Speak directly with your broker

No call centres. No ticket queues. Warren Reid — senior broker, Gold Coast.

Get a quote Call 0422 131 401

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