Modern construction sites require a sturdy risk management framework to protect your project from the unique complexities of the industry.

The truth is, when you’re a builder or contractor focused on the job at hand, it’s hard to prioritise the unforeseen. However, with Contract Works Insurance, you can rest assured that your project is in good hands should the worst happen.

At CIG insurance, we understand the challenges of the construction industry and work with you to understand your individual risks, so we can find you insurance cover that is tailored to you and your project’s needs.

So, when you need to focus on your contract work project without worrying about the factors you can’t control, that’s what we’re here for.

What Is Contract Works Insurance?

Contract works insurance (also known as construction works insurance) is a critical protection for builders and contractors against the financial consequences of accidental damage, loss, or destruction to your project during the construction stage.

This coverage extends to restoration or rebuilding costs if an incident does occur, including the materials required to bring your project to life.

This insurance can be approached in two different ways depending on your project structure:

  • Annual Turnover Basis: A continuous policy that covers all projects automatically within the 12-month period.
  • Single-Project Basis: If you prefer a more ad-hoc insurance solution, this policy is designed to cover one-off projects from commencement through to completion.

What Does Contract Works Insurance Cover?

CIG Insurance supports you in managing your liability when it comes to your construction projects, ensuring your assets and your contractual obligations are protected at every stage of the process.

A typical policy includes:

  • The Insured Works: Protection for both permanent and temporary work sites under construction, including any alterations to existing infrastructure.
  • Materials and Supplies: To protect the materials on your site, as well as assets being stored or in transit elsewhere. Also includes mitigating imported materials risk that can come from supply chain factors and overseas transit.
  • Weather Extremes and Site Damage: Damage from fires, storm, or flash flooding that is out of your control, but can detrimentally impact your progress as well as your physical materials.
  • Third-Party Injuries and Property Claims: Property damage or bodily injury to members of the public can occur near your construction site.
  • Theft and Vandalism: Coverage against malicious damage or theft of building materials from your worksite.
  • Subcontractor Coverage Gaps: Closes the gap in subcontractor protection to ensure your contract works is not at risk to third-party litigation or uninsured losses.

What’s Not Covered?

While comprehensive, contract works insurance has standard exclusions to be aware of. We can help you navigate what is not covered, so you know where your coverage gaps are. These typically include:

  • Defective Work and Design Errors: Structural and design faults that may emerge during or post-construction that may result in legal claims.
  • Wear and Tear: Natural deterioration over time, such as rust, corrosion, or breakdown of equipment.
  • Unexplained Losses: All shortages require proof of an insured event, so any losses discovered from routine inventory checks are not typically covered.

Related Cover for Construction Businesses

To fully protect your construction project, we recommend complementing contract works insurance with connected coverages to build a comprehensive risk framework:

Professional Indemnity Insurance

Protects you against any claims of negligence, errors, or omissions relating to your advice or professional services.

Industrial Special Risks

Unlike contract works insurance, industrial special risks insurance covers any physical loss or damage to your onsite materials and structures once your project is completed or operational, rather than protection during the active building phase.

Management Liability Insurance

Protection for directors, officers and senior management facing governance, employment practices or regulatory exposures.

Cyber Insurance

Coverage against cyber attacks, including data breaches, ransomware attacks, and digital extortion.

Why Use CIG Insurance as Your Broker

CIG is part of the Steadfast Network, which means clients get access to broader policy wordings and products you won’t find on retail comparison sites. More importantly, we back clients not just at policy setup but through claims, renewals, and those moments where you need to focus on growing your business.

Whether you require a detailed assessment of your current cover or clear, informed guidance on your insurance needs, our team is ready to support you.

Speak with one of our brokers today.

We’ll handle it all, with your project’s best interest as a priority. All you need to do is reach out and get started.

Curious about Contract Works Insurance?

Speak To One Of Our Brokers Today