Contract Works Insurance
Millions of dollars in tools, equipment and materials are stolen from construction sites every year. This can have a significant cost impact for builders and their clients and result in delays to the building period if supplies are unable to be replaced.
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Tailored Contract Works Insurance Solutions
Contract Works Insurance, also called Construction Insurance, helps safeguard contractors and builders from unexpected risks on-site. It covers theft, damage, and third-party claims that could arise during a project, ensuring your work stays on track.
Having the right cover in place gives you the confidence to focus on the job without unnecessary stress, knowing your business is protected from costly setbacks.
Who Needs Contract Works Insurance?
Contract works insurance is recommended for:
- Small, Medium & Large Commercial Builders
- Industrial & Domestic Builders
- Contractors
- Sub-contractors
- Developers
- Tradies
- Owner-Builders
- Anyone involved in civil, commercial, or residential construction projects.
Most owner-builders take out contract works insurance for a specific contract, while professional builders generally choose an annual policy that covers multiple contracts.
What Does Contract Works Insurance Cover?
Contract works insurance can cover the building which is under construction, whether it’s a kit home, straw bale or mud brick home, multistory apartment or commercial building.
It can also cover the equipment used in construction, as well as public liability risk. During renovations to an existing structure, it can cover damage to the structure which occurs during the construction process.
Depending on your policy, professional indemnity insurance can cover:
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Property Damage
Physical loss or destruction of tangible property, plant and equipment as well as removal of debris.
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Legal Expenses/Defence Costs
Legal costs and expenses you are legally liable to pay following legal proceedings brought by or against you.
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Public Liability
Sub-contractor liability, products liability and cross liability.
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Existing Structures (optional cover)
Sudden and accidental physical damage to existing structures caused by natural events and the actions of the builder or contractor.
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Product Liability (only available from some insurers)
Third-party personal injury or property damage resulting from an occurrence caused by your products after they cease to be in your possession or control.
Did you know?
Timber, copper wire and whitegoods are among the common items stolen from home building sites.
(Domain, ‘Thefts from house and land sites rise’, 2021)
650
(in AUD) The amount of high-cost construction machinery stolen from work sites around Australia each year.
(The West Australian, ‘How to protect your construction equipment from theft’, 2020)
45
The percentage of construction projects worldwide that are delayed due to adverse weather.
(MDPI, Weather-Related Construction Delays in a Changing Climate, 2021)
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For immediate response please give us a call.
Our team continues to work remotely but you are welcome to arrange an appointment with one of our consultants.
Get a FREE QUOTE
Complete the form to request a FREE QUOTE. Call us at 1300 900 207 for immediate response.
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Case Study
After working for other construction company owners all his working life, Craig starts his own small earthmoving firm. In the first couple of years, he borrows money and invests much of his income back into the business, buying the latest equipment and a work vehicle.
After starting work on a new construction at a new site, he leaves his tools and equipment locked in a garage on the site overnight. But that night, thieves break into the garage and steal Craig’s tools, worth $25,000.
Craig contacts his insurance broker who helps him put in a claim. He’s quickly reimbursed for his loss, so he isn’t out of pocket and can keep his business running.
What usually isn’t covered?
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Loss after work has ceased for more than the number of days specified in the policy.
- Consequential loss.
- Cost of rectifying or correcting defective workmanship.
- Work underground or in water unless specifically agreed by the insurer.
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Get in Touch
Simply fill in the form below and we’ll be in touch shortly, or feel free to call and tell us about your specific requirements.
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PO Box 7005, Mount Crosby QLD 4306
Our team continues to work remotely but you are welcome to arrange an appointment with one of our consultants.
Please complete the form to submit an enquiry.
