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.