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Contracts work insurance
What is contract works insurance?
If you're building, renovating or making alterations to an existing house or property, contract works insurance provides cover for accidental loss or damage that may occur during the construction period.
Contract works insurance can protect both residential and commercial construction projects.
This type of insurance is also known as 'construction insurance', 'Builders All Risk' or 'Contractors All Risk' insurance in New Zealand.
What is covered by a contract works policy?
Contract works insurance covers construction work that's underway, whether building a new house or carrying out renovations on an existing structure.
The costs of repairing or redoing work in progress may be covered if the damage is caused by an insured event such as fire, flood, storm, vandalism, or theft during the construction period.
This can include construction costs such as labour, professional fees, equipment, debris removal, building materials and tools, plus any additional costs needed to get the work back to the stage it was at before it was damaged.
This insurance policy can benefit property owners, developers, builders and contractors. It is designed to protect homes and construction businesses in the event of accidental loss and damage.
Help with contract works cover
We have a team of specialist brokers who work closely with the construction industry and can advise on all aspects of contract works cover.
For more information on what this policy covers and exclusions, talk to a broker about the best options for insuring your commercial or residential building projects.
Managing construction risks
Gallagher's construction practice works with clients of all sizes to provide quality advice and arrange insurance solutions to meet the needs of project stakeholders.
We’ll gain a thorough understanding of your business and risks to recommend an insurance programme that is right for you.