Construction insurance is class of insurance policies that provide coverage for contract works, property damage, third-party injuries or damage claims.
Below is a snapshot of different scenarios and the types of construction insurance available to provide financial protection.
|Scenario||Type of Insurance||What does it cover|
|There’s a fire on site and works completed have been destroyed.||Contract Works||Protects the work in progress on a construction site in the event damage occurs as a result of an insured peril.|
|An independent contractor has a fall on site and this results in a serious head injury.||Public Liability||Protects the company against potential legal costs incurred in defending the allegation|
|An employee falls while climbing a ladder and causes a serious back injury.||Employers Liability||Protects the company against legal costs incurred in defending the allegation.|
|Damage to your equipment, during a construction project.||Own Plant||Protects against damage to own plant and equipment whilst in your custody or control or hired out under a defined agreement.|
|Damage to the equipment hired-in occurs during a construction project.||Hired in Plant||Protects your legal liability under the terms of your hiring agreement to pay compensation for damage to hired-in plant whilst in your custody or control|
|A product that your company imports/uses causes injury to a customer and they claim for financial compensation.||Product Liability||Protects against legal costs incurred in defending the allegation .|
Construction Insurance specialists:
If you are looking for specialist advice and access to the best construction insurance providers in the business, make an enquiry online or call us on 020 3701 0422