Our 30 years experience in Construction Insurance has shown that many construction professionals still get things wrong with their insurance cover and get caught out when it comes to claim. Many have paid their insurance premium only to find out that from a minor omission or error their policy is invalidated.
This is more so when it’s arranged online when the questionnaire is ‘manipulated’ to obtain a cheaper premium.
So here are some things you should be aware of when arranging your insurance.
1. Make sure you fully advise all the areas of work you undertake. If as a General Builder, you undertake roofing work for example, you must also disclose it. Failure could invalidate your cover.
2. Correctly advise payments to sub contractors, labour only and direct employees. If an injury happens to any one of them and is not disclosed, you could be liable.
3. Adhere to your Health & Safety procedures fully. Any breaches could land you in hot water.
4. Do not hide or conceal any previous liquidations or companies that have been wound up where you were a Director or Officer of that company. Our experience still shows that many omit to mention this very important requirement.
5. Be aware that Public Liability insurance does NOT cover faulty workmanship. That’s covered under Latent Defects or Warranty Insurance.
6. Be aware that many Online insurance policies fall short of what you may require. Double check or seek specialist advice to get it right.
7. Finally, not only make sure you know what’s covered by your insurance policy but also what’s NOT !
We’re here to help so if you need advice with your Construction Insurance, just get in touch with us on 0207 731 3700 or send us an email.