Construction insurance
LA insurance, your trusted partners for your construction projects
Construction insurance
LA insurance, your trusted partners for your construction projects
Construction insurance Is part of a package of insurance designed specifically for builders and contractors, of any size. It covers material loss or damage to a works under construction, materials to be incorporated into the project, and temporary structures.
LA Insurance understand the demands of the construction industry which requires a unique set of insurance solutions. Our tailored policies are designed to shield you from the unexpected, providing a solid foundation for your next project.
What does contract insurance cover?
At LA Insurance, we recognise that securing your projects goes beyond bricks and mortar. A comprehensive construction insurance coverage is tailored to address the specific risks in the industry, ensuring you can build with confidence
Material loss or damage
Provides cover for physical loss or damage to:
- works under construction
- materials to be incorporated into the project, either at the site or stored on-site
- temporary structures
- principal’s existing buildings
Public and product liability
Provides cover for injuries to other contractors working on the site during the construction (public liability), as well as damage to property which was built or completed once they have left the site (your product). For example, if support for a wall was not built correctly, and the wall collapses a year after the work is finished, then damage to the wall would be covered
Plant and equipment
Provides cover for loss, damage or theft of your construction plant, tools and equipment
Construction insurance FAQs
Public & Products Liability Insurance for builders provides cover for injuries to other contractors working on the site during the construction (public liability), as well as damage to property which was built or completed once they have left the site.
This type of insurance package is standard for the building and construction industry. Many head contractors, principals and financiers require this Contract Works Insurance to be in place before starting on-site.
This insurance is specifically designed to limit your financial risk relating to personal injury, accidental loss or damage happening on-site. You can also be insured for loss or damage caused by your contractors or subcontractors while working at the site. In addition, once you leave the site, personal injury or property damage arising from the completed works are also covered.
The cost of taking out Contract Works Insurance varies depending on:
- the type of work
- whether it is on or near water
- if it involves plumbing, roofing, or a high-rise building
- prior claims
- length of the project
- defects liability period
- total sum insured
- if it is a one-off project or the building is doing these throughout the year.