Contract Works | Master Builders Insurance Brokers
Are you covered for water damage caused by failed waterproofing?
Many contract works & liability policies completely exclude the cost of repairing future damage caused by defects in construction which can often be $50k or more.
Coverage is available, which excludes the cost of the defect (ie the waterproofing) but covers the damage which has occurred as a result of the defect.
Are your tools covered for what they're worth?
Having the wrong policy could cost you $5k-$12k in the settlement amount for a $30k tools theft claim.
Policies are available that provide 2 years 'new for old' insured values for tools, with favourable depreciation figures for items older than 2 years.
Are you covered for homeowners accessing their build prior to practical completion?
With many Contract Works policies, allowing a small portion of your build to be 'put into use' can cease cover altogether.
Policies are available that are not prejudiced by partial occupancy or being put into use, ceasing cover at practical completion/handover, which typically aligns with your contracts.
Master Builders Insurance Brokers?
Download our essential guide:
5 Things to Check on Your Contract Works Insurance Policy
Depending on the insurer, there can be 10–20 differences between Contract Works policies. Each difference has the potential to expose you to significant losses depending on your individual situation.
How do you know which policy is right for you?
Start with our guide or talk to us to compare and select the most suitable policy for your business.
Speak to a specialist about your insurance needs today:
"Although it's a common requirement, Contract Works insurance can vary significantly from different insurers and there is no such thing as a standard policy.
Don't risk it. We're here to make sure you get the right advice."