Contract works insurance is designed to provide you with cover if you are in the building trade or you work as a tradesman. This cover will protect you against work that is underway on a site. If you take out this insurance, it can pay to repair or redo your work that’s in progress if it’s damaged by an event such as like fire, flood, storm, vandalism or theft. You will need to check your contracts to see if you will be held responsible for unfinished work.
You should take out this type of insurance if you work in the construction industry. For example, if you are a building contractor, property developer, electrician, bricklayer, carpenter, plasterer or tiler.

Contract works insurance would protect you, for example, if you are in the process of building a extension to your clients home and a fire took place. Similarly, you could be replacing a clients roof and a storm destroyed the partly constructed roof. However, you should be aware that you will not be covered for existing constructions on site. In this case, a claim would usually come under your client’s insurance.

You should always ensure that you buy the right level of contract works insurance. Consequently, you will be covered if you need to make a claim. For this reason, you will need to specify a cover level that equates to your biggest project. Therefore, this should include all labour and materials and should be the case regardless of how long your project lasts. For example, if your largest contract is worth £1 million and lasts over a year, you would require at least £1 million of contract works insurance.

You may be unsure as to which policy will work best for you. In this case, please give us a call. Undoubtedly, it may suit you to have a customized insurance policy to cover your entire construction business. In essence, incorporating public liability insurance and employers’ liability.

You may ask the question, when should I take out this insurance? You do not know when you will need to make your next claim. Therefore, you may take out this policy to provide a safety net for yourself.