Construction Insurance - Overview
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Read this guide to assist you in assessing your insurance requirements.
Owning and running a construction business is not easy. You’ve invested time, effort and usually a great deal of money to make it successful. The last thing you need is to lose it all because it wasn’t insured or risk management was inadequate . To help protect your business against unforeseen losses our insurers offer construction insurance products to suit your needs as follows:
Construction Works & Liability Insurance
This composite policy covers contract works for material loss or damage including removal of debris, expediting expenses, professional fees, existing stuctures , plant tools & equipment on site. Also covers Public Liability for the construction.
Workers Compensation Insurance
All employees injured by accident or industrial diseases arising out of, or in the course of their employment are legally entitled to compensation under the various Workers’ Compensation statutes. The Acts in each State and Territory require employers in Australia to maintain compulsory “no fault” insurance to cover their legal liability.
Personal Accident & Illness Insurance
Can provide weekly and lump sum benefits for accidental death or injury to a specified person or persons. Protection is also available to cover illness.
Property Damage or Fire and Perils Insurance
Covers your buildings, contents and stock against the risks of fire, storm and tempest, impact, malicious damage, including automatic accidental damage cover. The policy also provides full replacement cover.
Theft and Burglary Insurance
Every business person needs to feel physically secure. You’re protected against loss or damage to your property caused by visible forcible and violent entry to your premises, persons hiding on your property, and persons who threaten or actually stop to using violence.
General Property or Special Risks Insurance
Covers loss of or damage to specified property, normally of a portable nature, which is not covered under the policy on property at the insured’s premises.
Transit Insurance
Covers property and goods in transit between locations.
Tax Audit Insurance
Covers professional fees charged by an accountant or professional in connection with a Taxation Office audit, including costs in obtaining expert advice
Motor Vehicle Insurance
This can take several forms:
Comprehensive damage and third party property damage.
Third Party Property Damage plus Fire and Theft.
Third Party Property Damage only.
Compulsory Third Party.
Click here for a quote and more information on Construction insurances
Click here for a quote and more information on Home Builders Warranty Insurances