Construction Works Insurance

Also known as Contract Works Insurance

Construction works insurance is designed for businesses or contractors undertaking both residential and commercial building activities. We specialise in providing competitive prices and comprehensive coverage options.

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What you need to know about

construction works insurance & contract works insurance for businesses

Much of the work in the construction industry is based on different projects. Construction works insurance, also known as contract work insurance, provides cover for the duration of a project. This type of policy is made to financially protect you and your business, should something happen during the course of a project. 

As insurance brokers, we always strive to provide:

Competitive Pricing

We work with a number of different insurers and underwriting agencies to ensure that regardless of what you do we can get a competitively priced policy.

Bespoke Coverage
Backed by Australia’s largest broking group our policy wordings and coverage are only available through a Steadfast broking group member ensuring that you get the best.

Tailored Cover
Our Brokers understand your industry and the coverage that you need, we take pride in building a tailored package for your business, only pay for the coverage that you need.

Why Priority Insurance Brokers?

Why should you use Priority Insurance Brokers to arrange your Construction Works Insurance?

Stop paying more for insurance, get a quote now.

Have questions about construction works insurance? We have the answers

To obtain construction works insurance as a builder, start by researching reputable insurance providers that offer coverage for construction-related risks.

Compare policies to ensure they include public liability coverage, which is crucial for protecting against property damage or injuries to third parties.

Consider any contract requirements from clients or contractors you work with, and seek advice from business insurance brokers specialising in construction insurance.

Obtain multiple quotes to find the most suitable and cost-effective policy. Once you've chosen a provider and policy, thoroughly review the documents and keep the coverage up-to-date through timely renewals.

Tailor the insurance to match the specific risks associated with your construction projects, and seek professional advice to ensure adequate protection for your business and clients.

To obtain a construction works insurance policy, you'll need to provide essential information about your business, such as its name, contact details, and the type of construction work you undertake. Additionally, you'll need to share details about the specific projects you plan to work on, including their size, scope, and estimated value. It's crucial to assess the risks associated with your construction projects and provide comprehensive information about potential hazards and safety measures in place.

Another important aspect is specifying the desired limit of public liability coverage to protect against claims for property damage or injury to third parties. If you work with subcontractors, you may need to provide information about them and their insurance details. Some insurers might request financial information about your business, such as annual revenue and project turnover.

Additionally, consider any contractual obligations you have with clients or contractors, as they may have specific insurance requirements outlined in the contracts. Being transparent and accurate in providing this information will help ensure you receive the appropriate coverage for your construction business's needs. Consulting with an insurance broker or advisor can also facilitate the process and ensure you meet all the necessary requirements to obtain a construction works insurance policy.

When you are operating in an industry that is so thoroughly reviewed, the difference of providing one small piece of information could result in a claim not being covered if something unforeseen happens. 

It is important that you have the advice, support and knowledge behind you to navigate your way through being provided with a suitable level of cover and an expensive piece of paper. Some policies are literally just that, an expensive piece of paper that is wrapped so tight with restrictions that you couldn't possibly put a claim in and have it covered if you tried. 

For example, if there is a removal and weakening of support exclusion in place and you are doing renovation work at a customers property and the roof caves in due to incorrectly removing foundations or support beams then you will be liable for the full cost of the damages and the rectification of the work that you have already completed. 


Or something as simple as a condition of your policy being put in place that you need to request and keep on file a copy of your sub-contractors insurance certificate to confirm they have a policy in place. If you don't do this and the insurer cannot recover their costs should your contractor be liable for damages then this could fall back onto you as well.

With more and more insurers removing themselves from the builders market this means that competitive pricing is getting harder and harder to put in place. We work with a number of different insurers and underwriting agencies that are still willing to provide a builder's public liability insurance policy and depending on the breakdown of the works that you do, some insurers will still give you a competitive rate. 

The cost of a policy will only go so far as long as it covers you correctly. If you are just waiting to pay for a policy that will only pass the test of getting you onto a worksite then sure, you will find a very cheap premium. However, if you want to have a policy that will provide you with cover for the likely events that could occur in your industry, then you may need to pay a slightly higher premium.

Remembering that only one potential claim could be the difference of whether your business is able to keep operating or not. Construction-related claims are considered to be one of the highest in all categories of insurance. That means that statistics have confirmed that there are only a handful of trades that actually go their whole career on the tools without a significant loss occurring. 

At the end of the day, we understand that you are operating a business and our end goal is to always achieve the best results for you. The ideal situation is finding that perfect balance between the premium and the cover you receive.

Need a Broker who can assist with your construction works Insurance? We've got you covered.

We don’t just specialise in this type of insurance, we can assist businesses with all of their general insurance needs. Whether that be tools insurance, truck insurance, or professional indemnity insurance, we can take care of it all for you. Our team understands your industry and we have worked with hundreds of builders and trade contractors across Australia. Save time on the admin work and let us take care of your insurance for you.

Your Construction Works Insurance Questions Answered

Are delays in construction projects covered by contract works insurance?

Not necessarily, delays can only be considered if damage has occurred as this is the main trigger on the policy. The project needs to sustain some form of damage for the additional benefits to be covered.

How long does contract works insurance coverage last for a construction project?

There are 2 options, you can have a single project cover or an annual contracts cover. This means that if it is just a single project than the cover period needs to be set for the expected duration of the project. An annual policy can renew and still provide cover for projects under construction. There are 2 types of annual policies available one being a “run-off” and one being “turnover” – there is a significant difference between the 2 so you should consult your broker on how to proceed.

Do I need contract works insurance if my project is small or low-budget?

The only time you “need” contract works insurance is usually when a contractor or financier requires you to have it. Outside of that most insurance policies are a choice of whether you want your project covered or not. Certain risk assessments should be considered on a case by case basis such as; how would you handle the loss financially if something happened?

Are damages caused by natural disasters, like earthquakes or floods, covered under contract works insurance?

Yes, most policies consider an “insured event” as anything sudden, unforeseen and unintended that caused physical loss or damage to the insured property.

Are there any specific requirements for subcontractors to be included in the contract works insurance policy?

This depends on your specific situation and no broad answer can be provided. There are a number of considerations that need to be made for example; are you the head contractor? What sub-contractor and project specific agreements are in place?

Can I get an extension on my contract works insurance if my construction project faces unexpected delays beyond the original completion date?

Yes, as mentioned above there are 2 ways that an extension can be considered – either on a single project basis or under the maximum project duration on an annual policy. It is important to note that insurers are cracking down on project delays and where insurers would previously just offer extensions now some insurers are only offering first and final extensions (depending on the insurer).

What other insurances do I need to consider with contract work insurance?

In addition to contract work insurance, there are several other types of insurance that builders and construction-related businesses should consider to adequately protect themselves from various risks and liabilities. Some of the essential insurance types to consider are:

The insurance needs of a construction business can vary depending on the size of the company, the scope of projects, and the specific risks involved. It is advisable to consult with a business insurance broker who specialises in construction insurance to determine the most appropriate coverage for your individual business needs.

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