Construction Insurance & Relevant Policies
Construction insurance can be provided across a range of different construction industries, from home building, project managers, scaffolding, roofing contractors and joinery manufacturers. Construction insurance is the name given to insurance policies that provide coverage for damage, third party injuries or damage claims. If you are new to the construction industry in general, you are probably finding the navigation of insurance confusing.
We’ve put together a little guide to help you get the right insurance for your company and keep you safe. We want to summarise the main types of insurance that you should be aware of for your construction projects.
Find out what level of cover you will need for your business on 0117 325 2224 where a member of the team will advise you further.
Why Do You Need Construction Insurance?
When constructing a building, it’s possible that you will experience property damage eg. fallen trees, power outage, roof damage or flooding. Income loss can occur due to theft, vandalism or heavy worker turnover, injuries to employees and liability claims.
People who will benefit from construction insurance are:
– Homebuilders & developers
– General contractors
– Heavy contractors
– Specialised contractors
– Home improvement companies
Public Liability Insurance
Public liability insurance is a common type of business insurance that protects companies against liabilities for third party injuries or their property.
This type of cover is particularly important if you’re working near other people and their property, which of course you will be in the construction industry. This should be renewed every 12 months.
This is wide-branching in the construction industry, as there may be a number of additional factors and risks that you will need to consider when construction projects are conducted around the general public.
This can also serve to protect stakeholders, site visitors and other individuals that may be affected by the risks of an accident occurring. It provides peace of mind that the business is covered in case of an incident.
"From a customer service perspective, they have made it impossible for us to look to go anywhere else. No problem is ever too big and no call is ever inconvenient. I have recommended Brunel to a number of my contacts." - Engineering client, Brunel Insurance Brokers
We are truly independent, meaning we can go to the whole market seeking the best deal for our clients.
We have been awarded Chartered status. This is testament to our expertise, industry knowledge and excellent client service.
Our in-house claims team will deal with any claims that may arise in an efficient, personal and professional manner, leaving you free to continue with the important work of running your business.
Product Liability Insurance
Product liability insurance protects you against liability for injury to people and their property, arising from the products you supply, manufacturer or import. If you supply, manufacture or import any products, this is the perfect cover for you.
Employer Liability Insurance
Employers liability insurance is compulsory for employers, regardless of if the employee is permanent, temporary, volunteer, contractor or freelance. The minimum level of protection will cover the cost of compensation claims if staff get injured or fall as a result of carrying out their required duties.
Contractors All Risk Insurance
This type of insurance protects you against any physical damage to works or site materials that you have been contracted to carry out.
Contractors all risk helps your staff if they cause damage to a part of a property that they were contracted to work on. It gives you a full coverage policy to cover any costs associated with fixing the damage to the property.
This is a policy that you may wish to consider should your business carry out a number of works and work on-site. This can serve to protect company reputation & manage the various risks that may occur on site.
Plant & Equipment Insurance
This type of insurance covers you for equipment that you are leasing and are responsible for if it is lost or damaged. When you lease items of plant, you enter into a contract with the hiring company, which means you are responsible for the plant while it is in your control.
Professional Indemnity Insurance
Professional indemnity insurance protects against claims for loss or damages arising from professional negligence or negligent advice. If you hold design responsibility for a site, you should consider professional indemnity insurance.
Click here for more information on construction insurance. To discuss any of the above in more detail, get in touch with our team on 0117 325 2224.