Our builders insurance brokers are experts in partnering with building companies to ensure they have the right coverage tailored specifically to their needs.
Our company specialises in providing Builders Indemnity Insurance and Public Liability Insurance for Builders. Regardless of the activities you engage in, we are here to assist you. We work closely with residential, commercial, renovation, and fit-out companies.
Why waste endless hours searching for the best deals when we’ve got you covered? We bring you the most competitive options right off the bat, saving you time and effort.
What you need to know about
When it comes to builders insurance policies, you have the flexibility to create a combination of multiple insurance policies tailored to your specific work requirements. It’s all about finding the right coverage that suits the nature of your projects.
Building and renovation companies should ensure they have the correct insurance coverage. Just like other specialist trades, certain exclusions or gaps in cover require careful consideration. It’s important to address these factors to ensure comprehensive protection for your business. Remember, having the right insurance is vital to safeguard your company’s interests and mitigate potential risks.
Some of the key components that need to be considered when placing a builders insurance policy are:
When comparing builders’ insurance policies, addressing these key questions is important. There are various policies to consider, and your answers will determine the type of insurance you need. So, take your time, don’t rush, and make sure you choose the right policy that suits your requirements.
The most common insurance for builders are:
We can assist with any of the above insurance and provide tailored advice about what policies should be considered for your business.
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Public Liability Insurance for Builders covers personal injury and property damage that may occur while working within your business. It offers protection in various scenarios, such as if someone were to fall off a set of stairs due to an improperly secured handrail.
However, it's important to note that this type of insurance only covers incidents that result in personal injury or property damage. So, if there is a case of faulty workmanship where no one is hurt or no property is damaged, typically, it wouldn't be covered.
This insurance gives you peace of mind, knowing you're protected in case of unexpected incidents. It's an essential safeguard for builders, ensuring you can focus on your work without worrying about potential liabilities.
Professional indemnity insurance is typically a requirement for builders involved in design and construction projects. Builders need to understand that when you're handling a project's design and construction aspect, your professional indemnity insurance should be included under a design and construction policy. This approach helps minimise any potential gaps in coverage between the policy's Professional Indemnity and Public Liability sections. By ensuring your builder's professional indemnity insurance is covered on a combined design and construct policy, you can know that your insurance needs are well taken care of.
Annual Contract Works Insurance for Builders covers material damage during a project's construction phase. It's like a safety net that ensures your project is protected.
For instance, imagine you're building a new house, and a fire incident ruins the entire project. With contract works insurance, you don't have to worry. It's designed to restore the home to its original state before the unfortunate event.
Annual contract works insurance is crucial for builders, especially because most operate under trade credit terms and have contractual obligations for the home while it's being constructed. It offers peace of mind and financial security. So, if you're a builder, prioritise getting this insurance to protect your projects.
Insurance coverage for portable tools is crucial for builders, just like any other policy. Builders often carry a significant value of tools throughout the day, every day. Imagine being in a motor vehicle accident while carrying $20,000 worth of tools. Unfortunately, your car insurance will only offer minimal coverage, typically from $500 to $1,000. It's important to consider the potential financial impact and ensure you have adequate coverage to protect your valuable tools.
We understand that running a business demands significant effort, and as a business owner, you are expected to have a deep understanding of its various aspects. At our company, we have strived to simplify the process as much as possible. Our dedicated brokers work closely with business owners to grasp the operations and implement the necessary safeguards. We take pride in transparency and ensuring that important details are not buried in the fine print. Rest assured, we are here to support you every step of the way!
We collaborate with various building companies, which gives us a comprehensive understanding of your business’s potential liabilities. With this knowledge, we can help you navigate and mitigate the risks associated with your industry in a relaxed yet professional manner.
We get it! When comparing different builders’ insurance policies, you definitely don’t want to end up paying for things you don’t need. It’s all about finding the fit that suits your specific requirements and budget.
That’s exactly why we take the time to collaborate with every company, understanding your unique risk profile. We aim to customise your insurance coverage, ensuring it’s tailored to your needs. We believe in providing protection that truly matters to you, no more and no less.
There are some states which require builders to hold specific policies to meet their criteria. Particularly if they are apart of an association.
There is now an actual policy called builders insurance however, builders insurance can usually reflect 3 types of insurances that builders typically need. These are usually public liability insurance, contract works insurance and if required, professional indemnity.
This depends on your business and who has been contracted for the job. If you are considered the head contractor who holds the agreed contract with the customer and you are invoicing them for the works inclusive of demolition works then you also need to be covered.
Construction and demolition projects have seen a significant increase in claims that are settle on a proportionary basis – this means that even if you aren’t 100% liable, you can be held liable for a smaller percentage.
If you were even found 5% liable for an injury that occurred on a demolition job and your policy didn’t include demolition insurance then those costs will not be covered.
Yes, we offer a free review of all clients or future clients current policies. This is how we compare builders insurance policies from either direct insurers or other brokers.
We specialise in tradies insurance policies so we know how to structure your policies to get the best results.
This is dependent on the work that you are doing. If you are undertaking design and construct contracts then you should consider professional indemnity policies in addition to your other policies.
It is strongly recommended that builders hold a public liability insurance as the costs associated with damages can be significant. Significant enough to fold a company or put severe financial pressure on the business.
Most policies run for a 12 month period which then allows the policy to be continually updated and renewed each year.
In order of priority, we recommend that builders have the following: public liability insurance, workers compensation (if employing staff), contract works insurance, tools of trade cover and professional indemnity insurance if the work that you are doing warrants this.
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