Contract Works Insurance 2017-01-16T19:43:24+00:00

Contract Works Insurance

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Contract Works Insurance

Before starting any building project, having the right building contract works insurance in place is of paramount importance. Building contract works insurance should be considered for all work, be it a small extension on an existing home or the development of new commercial premises.

What is Contract Works insurance?

A simple contract works insurance definition might be ‘An insurance policy that covers the works in progress on a construction site.’ But getting appropriate cover that recognizes the value of the building, the cost implications should something go wrong, as well as the contractors liabilities to, say, the development owner, are of great importance.

At BJP Insurance, we have over 20 years experience providing insurance policies to the construction industry and we can advise you on the right contract works insurance policy – as well as other covers that you may need – before work gets underway.

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Contract Works Insurance

Get a quote today for your next building project

0345 365 2121

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Contract Works insurance explained

Contract works insurance specifically covers new works from a range of perils during the time they are being built. That would include the structure itself as well as the materials and fittings. The ‘perils’ might include fire or theft, malicious damage, flooding and storm damage.

In addition to this core cover, building contract works insurance can usually be extended to include cover for a range of tools and machinery that you may require for the job. These might include:

  • Hired In plant & machinery
  • Owned plant and machinery
  • Tools cover
  • Employees’ tool cover
  • Temporary buildings / structures

Who needs Contract Works insurance?

All trades people involved in a building development should consider contract works insurance. At BJP insurance, we’d typically recommend that you at least consider your requirements if you are a:

  • General Builder
  • Building Contractor
  • Property developer
  • Property refurbishment business
  • Electrician
  • Double Glazing installer
  • Shopfitter
  • Bricklayer
  • Carpenters and joiner
  • Plasterer
  • Partitioning contractor
  • Dry lining firm
  • Floor and wall tiler

If you are unsure as to whether you need a contracts works insurance policy in place, give us a call. We are happy to discuss your work and likely requirements.

You may find that having a contract works insurance policy in place is a condition of your contract. Most standard commercial building work is carried out under a contract, though typically they will be amended from standard wording to reflect the precise nature of the work. It’s likely that this will also stipulate the value of cover that you require. For these reasons, it can pay to have a professional insurance broker work with you to ensure you have adequate protection and are meeting the requirements of your contract. Our team of experienced advisors will be happy to help.

Specialist brokers to the construction industry

Call today for advice on insuring your next building project

0345 365 2121

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What other insurance might a building contractor need?

It’s important to understand that a basic contract works insurance policy protects only the new structure being built and any specified tools and equipment as described above. You may need to consider some further, but completely standard covers that might need to be in place:

  • Project Specific Insurance
  • Public liability insurance
  • Non negligence insurance / JCT 21.2.1 Insurance / JCT 6.2.4 Insurance
  • Employers Liability Insurance
  • Property Insurance (existing structures)
  • Design & Construct Professional Indemnity
  • Latent / Inherent Defects Insurance
  • Terrorism Insurance
  • Building Insurance
  • Environmental Impairment Liability / Pollution

Get contract works insurance explained – speak to the experts at BJP Insurance.