Construction insurance protects companies, employees and tradesmen from the many risks they face on and around construction and building sites. Employees, contractors, surveyors and the public may be at risk at sites managed by you and must be protected by adequate insurance cover. There are many risks in the construction industry, not only from injury but also theft of tools and machinery, damage to property and vehicles.
So what insurance should construction industry professionals consider?
- Public Liability Insurance covers you for the potential cost of a claim against you by a third party, such as a member of the public for damage to their vehicle, or an injured contractor working onsite.
- Employer’s Liability Insurance protects you and your employees, for which you are required by law to have in place and sufficient to cover you for the cost of damages awarded to an employee for injury or illness whilst working for you.
- Contractors All Risks Insurance is a specialised and important policy to protect plant, tools and machinery, whether owned or hired, that is usually added onto another more general liability policy. A contractors’ all risk policy can be extended to include cover for specialist tools, temporary buildings, surveyors’ and architect plans
- Vehicles and Goods in Transit Insurance is sometimes warranted when a van or truck is required to move plant, machinery and tools to another site and give protection to these vehicles and their contents.