Business Contract Works Insurance
Building Your Business? We’ve Got You Covered.
Building or renovating a commercial space comes with its own set of challenges and risks. Whether you’re constructing new commercial premises or undertaking a major renovation, things don’t always go to plan. From accidental damage and theft to natural disasters and contractor mishaps, Contract Works Insurance protects your build in progress, so your project (and your cash flow) stays on track.
What Does Contract Works Insurance Typically Cover?
- Accidental physical damage to works in progress
- Loss or theft of building materials on site
- Damage caused by storms, fire, flood, or earthquake
- Vandalism and malicious damage
- Tools, scaffolding, and temporary structures (where included)
- Loss of materials in transit to site
- Subcontractor damage or liability (depending on policy terms)
- Professional fees required to fix or redo completed work
This cover generally applies from the first day of site preparation through to project completion and handover.
Who Needs Business Contract Works Insurance?
- Commercial property developers and investors
- Builders managing commercial or mixed-use projects
- Business owners undertaking major structural renovations
- Owner-builders managing their own business premises
- Tenants fitting out a leased commercial space
- Related Insurance to Consider
Contract Works Insurance usually only covers risks during construction. You may also need Public Liability Insurance for third-party injury or property damage, Business Asset Insurance once the premises is operational, and Professional Indemnity if you’re offering design or project management services.