Contract Works Insurance
Contact Baynyi Ausure for your Contract Works Insurance needs.
What is contract works insurance?
When you’re working on a construction site, plenty of things can go wrong. Damage or loss to a building could cost you time, money and even your reputation. Meanwhile, an onsite injury can result in considerable pain, stress and financial loss.
That’s why having the right amount and type of contract works insurance is an important part of your business toolkit, allowing you to get on with the job with less stress and worry.
Who should consider it?
Contract works insurance is recommended for small, medium and large commercial, industrial and domestic builders, sub-contractors and owner builders.
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 can it cover?
Contract works insurance can cover the building which is under construction, whether it’s a kit home, straw bale or mud brick home, multistorey apartment or commercial buildings. 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, contract works insurance can cover you against:
| Type of Cover | Potential Benefits |
|---|---|
|
Property damage |
Physical loss or destruction of tangible property, plant and equipment as well as removal of debris |
|
Public liability |
Sub-contractor liability, products liability and cross liability. |
|
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. |
|
Legal expenses/defence costs |
Legal costs and expenses you are legally liable to pay following legal proceedings brought by or against you. |
|
Existing structures (optional cover) |
Sudden and accidental physical damage to existing structures caused by natural events and the actions of the builder or contractor. |
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.
INDUSTRIES WE SERVE
- Indigenous Corporations and Enterprises
- Local and State Government
- Construction & Infrastructure
- Health, Community, and Disability Services
- Education & Childcare
- Licensed Clubs & Sporting Organisations
- Agriculture & Land Councils
- Not-for-Profit and Social Enterprises
- Transport and Logistics
- Mining and Resources
- Manufacturing
- Professional Services
- Hospitality
- Real Estate and Property Development
- And many more
Speak to us about your Contract Works Insurance Needs:
Contact Baynyi Ausure
Our Insurer Partners
Let us do all the hard work for you! We compare policies from multiple insurers to ensure you have the right policy, the right price and most importantly – the right coverage.
Let Baynyi Ausure help you with your contract works insurance needs.
Baynyi Ausure specialises in delivering tailored insurance and risk solutions for indigenous and non-indigenous businesses across a diverse range of sectors. . We are part of Australasia’s largest general insurance broker network, the Steadfast Group. We leverage Steadfast’s scale to ensure our clients have access to a wide range of insurance companies, a broad range of products, exclusive policy options, and of course, competitive pricing. And when the time comes and you need to make a claim, you will have the backing of Steadfast behind you.
