What is contract works insurance?
Contract works insurance can cover insured loss or damage to work under construction. Depending on the wording, this may include materials that form part of the project. It is different from public liability cover for damage your business causes to third parties.
What should you check before a project?
Check who is responsible for insuring the works under your contract, the full project value and the maximum project duration. Ask whether materials in storage or transit are included, and when cover ends after completion or handover.
Existing property and defective work
Do not assume cover extends to an existing building you are renovating. Defective design, poor workmanship and the cost of correcting faulty work can be excluded or restricted. Show your broker the type of projects and contracts you undertake so those gaps can be considered.
Related guides: Declaring all your work activities · Advice, design and professional indemnity
General information, not a personal recommendation. All cover is subject to eligibility, terms, conditions and exclusions. Read your quote and policy documents before buying.