Construction (All Risk) insurance protects your building project against physical damage on site and liability to third parties, from groundbreaking to handover.
Construction All Risk insurance is an engineering policy that covers sudden and unforeseen damage to the structure, materials and equipment on a construction site, along with liability for injury or damage to third parties, for the duration of the project.
Contractors, building owners and subcontractors all need construction insurance to cover the risks of a build, regardless of the project's size.
Construction insurance should be arranged before site work begins, structured to cover the full duration of the project.
If the project timeline extends, the policy can usually be extended to the new completion date for an additional premium.
Depending on the policy terms, damage caused by subcontractors on site can be included in the cover — just flag this need when requesting your quote.
Losses arising from faulty design, deliberate negligence, ordinary wear, penalties and fines, and damage occurring outside the policy period all fall outside the cover.
The total contract value, the build duration, the type of structure, the construction method, the location of the site and the extensions you select are the main factors.
A standard policy ends at handover. Maintenance period cover must be purchased separately for defects that appear after handover, and once the building is in use it should be protected by a home or workplace policy.
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