Builders Contract Works Insurance
Loss or damage to materials
Tools and equipment if required
Public liability
It covers payments for repairs or repair work that need to be redone, due to damages caused by an insured event like fire, storms, floods, vandalism, and theft. The contract works insurance can also cover the cost of repair to the damages done to the structure you’ve been working on.
What is a contract works insurance?
Contract works insurance covers builders and tradies from accidental loss or damage to the build while working on the project.
Who needs contract works insurance?
Generally speaking, builders, self-employed tradies and owner builders may consider contract works insurance necessary*. They may also be required to have contract works insurance as part of an agreement and may be mandatory on some residential or commercial sites.
* If you are unsure, call us on 1800 284 627 and press 1 for help.
Why do you need contract works insurance?
Builders, tradies, and construction workers might need contracts work insurance as it also sometimes required by financiers of projects , it might be mandatory on some residential or commercial sites.
Other benefits of Imar’s contract works insurance policy
- Material damage cover
- Removal of debris
- Professional fees including architects, surveyors and consulting engineers
- Expediting costs including express delivery, overtime wages and the hire of additional labour
- Leak search and repair costs where the pipeline falls within the scope of cover
- Claims preparation costs
- Reinstatement of sums insured
- Cover for existing structures on the site before work commences is an additional option
- Testing and commissioning to new electrical and mechanical equipment for 4 weeks is an additional option
What is the difference between a single project policy and an annual policy?
A single project policy covers the duration of a single, specific project while the annual policy covers all projects undertaken within 12 months. Depending on how long you may need a policy will determine which cover is best for you. Imar contract works insurance policy is an annual policy.
Custom Built Cover
Contract works insurance is just one part of a comprehensive solution that we can put in place for you.
Builders Public Liability Insurance
Tool Insurance
Personal Accident and Illness Insurance