CONSTRUCTION
Contract Works Insurance
Insurance for construction projects, materials and works while a contract is underway.
OVERVIEW
The project changes as the work progresses
Contract Works Insurance is designed around physical loss or damage to construction work while a project is being carried out, subject to the insurer, policy wording and selected sections.
The insurance approach can differ materially between new builds, alterations, fit-outs, civil work and other construction activities. Contract value, project duration, site conditions and responsibility for materials all matter.
Liability, plant and equipment, commercial motor, professional indemnity and workers’ compensation exposures should be considered separately where relevant.
WHAT MATTERS
Project type, value and the work being undertaken
Insurers commonly want to understand maximum contract value, annual turnover, residential versus commercial work, new builds versus alterations, subcontracting, structural work, excavation, demolition, work at height, hot work, design responsibility, plant and the geographic area of operations.
Construction requirements can also vary by state or territory, particularly around licensing and residential building arrangements. Those points should be verified for the relevant jurisdiction rather than assumed nationally.
Understand more. Or begin.
Read the Australian Contract Works guide, or begin your proposal with details of the work, contract and site.
Australian insurance context
For Australian organisations, Contract Works Insurance should be considered against the actual activities, location, scale, contracts, assets and risk controls of the business. Insurance requirements and insurer appetite can vary by state or territory and by the way the risk is presented.
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