Contractors All Risks Insurance

It is basically an ‘umbrella’ type insurance policy encompassing all the insurance requirements of Building Contractors, Property Developers and even Tradesmen. It is renewable annually but can also be arranged for a specific project.

Contractors All Risks insurance is normally comprised of several different covers including Contract Works, Hired-in-Plant and Own Plant & Tools. Contract Works insurance specifically relates to the works being undertaken including any materials being used whereas Hired-in-Plant and Own Plant/Tools cover insures against any loss or damage to the equipment. These covers can be selected in isolation, or collectively, under a Contractors All Risks insurance policy, including legal liabilities.

This type of insurance is normally suitable for Building Contractors, Property Developers or similar Tradesmen within the construction industry who are looking to protect any ongoing works and/or their equipment. Sometimes it is a condition when hiring equipment that you will need to have it insured on your own policy. This can be done in isolation or under a Contractors All Risks insurance policy.

It is a well-known fact that accidents do happen on building sites and some of the main areas that must be looked at include: protective equipment to employees, security of site, injury to employees, training and signage.