The risk in focus
Contract works insurance concerns accidental physical loss or damage to insured works during construction, subject to the policy’s terms. Annual and project-specific arrangements can suit different contract programs. Public liability, D&C PI and plant insurance should be considered separately.
What the project submission should include
Describe the type of works, project location, contract value, construction period, principal and subcontractors, existing structures, materials in transit or offsite storage, testing and commissioning, and natural hazard exposure. We can explain the proposed cover and available limits in light of the insurance requested. Legal interpretation of the contract should be handled by your legal adviser.
Terms worth checking
Insured property and parties; contract value and escalation; existing structures; principal-supplied materials; defects and resultant damage; testing and commissioning; transit and offsite storage; removal of debris; temporary works; maintenance period; deductibles; catastrophe exposures; and any project-specific exclusions. Availability and sublimits vary by insurer.
Annual or single project?
An annual policy may suit a continuing portfolio if declarations and maximum contract values are managed. A project policy can be structured for a defined contract and period. The correct arrangement depends on contract terms, work type and insurer appetite.
Request a contract works quotation
Complete the form below or call 1300 310 467. Include the project scope and contract insurance requirements.
Discuss your insurance needs
Call 1300 310 467 or send an enquiry. Cover depends on the insurer’s terms and your declared activities.
General insurance information only. Cover is subject to underwriting, policy terms, conditions, exclusions, limits and deductibles.