Contractors All Risk Insurance FAQs
Each insurers contractors all risk policy can vary, and the terminology may alter, however the covers are comparable under the below sections:
|Employers Liability Insurance|
Although contractors all risk provides for covers tailored to the construction industry, it is common to purchase in conjunction with a number of additional policies such as: management liability insurance, cyber insurance and fleet insurance.
It is worth noting the largest cause of accidents and ill health on a construction site typically arise from:
Contractors all risk insurance definitions do vary and it's worth considering the terms and features to consider what cover best meets your requirements.
Your contracts with property owners will typically set out the responsibilities of each party, including who is contractually obliged to insure the various elements of the build. JCT contracts are the mostly commonly used in the UK, however other forms are available.
The Health and Safety Executive (HSE) offers guidance on defining responsibilities under the Construction (Design and Management) Regulations 2015.
Guidance on what a contractor needs to do to carry out their duties under CDM 2015 is available on the HSE roles and responsibilities of a contractor page.
Dependent on the type of contract you agree with the property owner, or if you undertake excavation, piling, underpinning or basement works in built-up area. You may need to arrange non-negligence insurance to protect the property owners legal liability for damage to a neighboring property.
However, if the contractors negligence cannot be proven and there is no available insurance to respond, the property owner can be held liable for the damage or injury. This can potentially embroil yourself in a legal battle with the property owner in an attempt to prove your negligence or breach of contract.
Non-negligence Insurance provides cover for claims should there be damage to a neighboring property due to the works carried out, which are not the result of negligence. Typically arranged in the joint names of the contractor and the property owner.
The risks named within the JCT Contract are:
Where advice, professional, or technical services are offered to a client, consideration should be made to purchasing professional indemnity insurance.
It is worth considering that if a main contractor subcontracts design work and there is an error with the design, the main contractor can be held vicariously liable.
At get indemnity we have the capacity to compare quotes from the wholesale insurance market with our online application. Your contractors all risk insurance premium calculation will consider:
Contract works insurance will typically be purchased on an annual basis by the respective parties, for their own requirements.
Larger projects may prefer to arrange their contract works insurance for all parties on a project specific basis. However, issues can arise if there are delays in construction and this extends past the agreed policy period.
Please complete our online application to compare contractor all risk coverage. Quotes from the wholesale insurance market are typically offered within 48 hours.
If you operate within a high hazard exposure or you have recent claims activity, please engage with your contractors all risk insurance broker early to ensure a satisfactory renewal.
This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.