Contract works insurance for builders and contractors
A construction project is exposed to fire, storm, theft, vandalism and accidental damage every day until handover. Contract works insurance covers the works themselves, along with materials on site, so a loss doesn't come out of your margin. We arrange annual policies for builders and trade contractors, and single-project cover for developers and owner-builders, across Australia.
Who needs contract works insurance?
- Residential and commercial builders
- Trade contractors responsible for their own works
- Property developers and project owners
- Owner-builders and renovators
- Contractors whose principal contracts require works cover
What contract works insurance can cover
Every policy is different. Depending on the insurer and options you choose, cover can include:
- Material damage to the contract works during construction
- Materials and supplies on site
- Removal of debris and professional fees after a loss
- Existing structures, where included
- Public liability for the project, often combined
- Annual turnover-based or single-project policies
What to check before you buy
Contract works and home warranty insurance are different: home warranty (also called domestic building insurance in some states) is a statutory cover for homeowners, while contract works protects the project during construction. We'll check your principal contracts, maximum project value, existing structures cover and how long the policy runs after practical completion.
Why arrange contract works insurance through a broker?
Policies that look similar on price can differ a great deal in what they actually pay for. As your broker, we act on your behalf. We’ll ask the right questions, compare options, explain the fine print in plain language and be there to support you if you need to make a claim, wherever you are in Australia.
Contract Works Insurance: common questions
Is contract works insurance compulsory?
It isn't usually required by law, but most building contracts require either the builder or the owner to insure the works. We'll check who's responsible under your contract.
Does contract works cover my tools?
Contract works covers the project itself. Tools and plant are typically covered under separate tools or mobile equipment insurance.
Is contract works the same as home warranty insurance?
No. Home warranty is a state-based scheme protecting homeowners if a builder can't complete or fix defective work. Contract works covers physical damage to the works during construction.
How is contract works insurance priced?
Annual policies are usually priced on your estimated annual construction turnover and the maximum value of any single project. Single-project policies are priced on the contract value, project duration and type of work. Your claims history and the risks involved, such as height or water exposure, also affect the premium.
Does contract works cover defective workmanship?
Generally, the cost of fixing the faulty work itself isn’t covered. However, resulting damage to other parts of the works may be covered, depending on the policy wording. Larger projects sometimes use broader defects clauses, and we can explain the options for your contracts.
How to get a contract works insurance quote
Getting a quote is simple, and there is no obligation. Call Carly on 0497 100 469 or send an email with your business name and ABN, a short description of what you do, your approximate turnover and number of staff, a copy of your current policy schedule if you have one, and details of any claims in the last five years.
If your contracts or lease set specific insurance requirements, send those too.
We will ask a few questions about your operations, approach suitable insurers on your behalf and come back with options explained in plain language, including what is and isn’t covered. Once you choose, we arrange your cover and send your documents, then review it with you at every renewal so your insurance keeps pace with your business.
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Need contract works insurance? Let's talk.
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