Builders Insurance

— Don’t let building risks stress you out, our insurance coverage ensures your protection, so you can focus on your business.

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Why do you need Insurance to be a Builder?

It is highly recommended that a builder consider their insurance options to protect yourself and your business against potential claims from 3rd parties. These can include clients, suppliers, or anyone who enters the jobsite.

When you run a small business, time is tight, so if you have to fight a potential legal claim it can be better handled by the imar ‘in house’ claims department who go in to bat for small business owners every day. It can also give you a better peace of mind.

What insurance should I have as a Builder?

5 types of insurance should be considered as a builder, they are:

Builder’s Public Liability Insurance

Protects against claims lodged against you by a third party. It includes cover for third party personal injury, property damage and legal expenses in defending a claim.

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Contract Works Insurance

Covers builders from material loss or damage while working on the project.

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Mobile Plant and Equipment

Protects your large machinery and plant equipment investment against damage or loss.

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Commercial Motor Insurance

Covers the costs due to theft and accidental damage by fire, flood, collision, overturning, hail and storm to vehicles used for commercial purposes.

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Cyber Insurance

To reduce the impact of cyber security breaches, as they are becoming one of the top risks as businesses creating, collecting and sharing information online become more reliant on technology.

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Is Builders Insurance Compulsory?

No builders insurance is not compulsory, but it is normally a requirement within contracts. Councils and banks might check that you have Builder’s Public Liability and contract works insurance at a minimum.

Are Subcontractors Covered?

No subcontractors are not covered and it is highly advised that all subcontractors think about their own insurance cover to protect themselves from public liability and tool theft at a minimum. Both these insurances will reduce your risk of having to pay a potential sum against a 3rd party or replacement cost of your tools.

What is Builders Warranty Insurance, How Long Does it Last and How Does it Work?

Builder’s warranty insurance covers a builder’s client against inadequate or unfinished work for 6 years for works over $16,000 and under $300,000. Consumer law stipulates that a home must be liveable at the completion of the build, and the finished project must meet the consumer’s expectations.

Builder’s warranty protection only extends to cases where the builder has died, disappeared, become insolvent or deregistered.

Custom built cover

We understand that each business is unique and we can tailor custom insurance covers to your business as we source from a range of insurers.

Business Package Insurance – Bizpack

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Management Liability Insurance

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Professional Indemnity Insurance

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