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No matter the size and scale of your building project, insurance is one area no one can afford to overlook. Whether you're working on a large-scale commercial project or building someone's dream home, the right cover can safeguard your business as well as the property in development. Depending on the type of work being carried out, as a tradie, contractor, or lead builder, different forms of insurance will be recommended, and it's vital to sort essential cover from redundant alternatives.

 

Considering all the various building and construction insurance options can be overwhelming, with so many different variations being lauded. In order to efficiently figure out the best form of insurance for your needs - covering all your bases to insure yourself and your work without breaking the bank - a specialist insurance broker, like the experienced team at Connect Business Insurance, can offer custom help and reliable guidance. 

Construction and Builders Insurance

If you’re working as a builder or contractor, there are multiple types of insurance available to you. Each variation is designed specifically to cater for property development, and with constantly changing regulations it's important to know which building and construction insurance options are applicable. 

 

Commercial Builders Insurance is crucial for many tradies, as it covers repairs or replacement of a partially finished or incomplete building structure should it become damaged due to deliberate vandalism or theft, or fire and weather destruction. Other important insurance types include Public and Product Liability Insurance, as well as Contract Works and Tradies Insurance; each providing an integral safety net should something go wrong. 

Contract Works

Also known as Construction Works, Contract Works Insurance is a comprehensive cover designed to protect any given project should an incident, accident, or unavoidable damage affect the property before completion. 

 

While most standard insurance for builders provides a good level of protection, they often omit important possible outcomes that can be out of your control. Severe, unexpected weather like WA’s famous winter storms, or damaging heavy hail, can disrupt a project and bring additional costs when not insured properly.

 

Physical damage is one key part of Contract Works, with third party liability being the other. This offers protection should a lawsuit be submitted against your company, or yourself, in relation to the construction project. As building insurance specialists, Connect Business Insurance offers custom Contract Works Insurance cover specifically designed for your area within construction, be it residential, commercial, electrical, mining, or civil.

Owner Builders Insurance

Navigating a safe route as a capable owner builder can be overwhelming; you have the skills to wield the hammer but tackling insurance is a whole other box of tools! Having standard Residential Builders Insurance will cover certain areas, but acquiring custom Owner Builder Insurance is highly recommended in order to safeguard you and your property. 

 

Work carried out on a property you own, where you are also the builder, can be incredibly varied, and requires building insurance experts to determine the required cover. Whether you're adding a small extension, raising the house, converting a garage, boundary works, or long-term projects, we’re here to help advise with your Owner Builder Insurance.

 

If you are unsure how much coverage you need, or would like a quote, simply give Connect Business Insurance a call now and speak to one of our insurance experts about our easy and affordable options. As well as covering professional fees and demolition costs, our Owner Builder Insurance offers premium protection with theft, damage, fire/water/wind, and storm destruction; options many insurers do not offer. 

Home Warranty

As a builder or contractor, you are required to take out a form of Home Warranty Insurances. This mandatory policy protects homeowners in the event of any incident or accident that prevents the completion of their project. This might mean an unfinished house due to the disappearance or death of the builder or contractor, inadequate construction, or should a key tradesperson become bankrupt or insolvent. 

 

Covering the physical bones of the house, as well as key structural elements like electrical and plumbing, home warranty cover plays a key role in carrying out quotes and applying for licences. Acquiring sufficient builder’s warranty can be tough on contractors, especially small businesses. 

 

As experts in Home Warranty Insurances Connect Business Insurance understands the struggle, and prioritises helping builders achieve eligibility for cover. With a fast turnaround and specialist advice, we provide smart building and construction insurance options, with a warranty for up to 6 years after project completion 

Property Developers

While the payoffs can be immense, the risks of operating as a property developer can be high. This makes obtaining the best insurance for property development a vital step in each project. Product Liability and Public Liability Insurance form the basis of a safe operation, protecting both you and your business should accidental damage or third party injury affect a building project.

 

No matter how experienced and careful you are, accidents happen. It's essential to provide cover for you and your workers in the event of a small or large calamity during development, with various building and construction insurance options available to provide extended security. Income Protection Insurance offers protection should income suddenly stop, due to illness or unforeseen disruptions, and Environmental Liability and Display Homes Insurance can extend cover for niche areas of risk.

Impeccable service with Connect Business Insurance

Within such a varied industry like construction, it's almost impossible to safeguard against all possible outcomes, but having tailored insurance cover can help protect you against costly legal claims, paying costs from your personal finances, and even bankruptcy.

 

Working with specialist brokers like Connect Business Insurance means custom advice on which insurance policies actually suit your business and how you operate. Offering solid advice with zero upselling, our experienced team works with you to understand which building and construction insurance options you need. For more information on insurance for your specific trade or business, or to discuss a quote, please get in touch now

 

*Please Note*

 

The material provided here is for informational use only. It does not constitute legally binding insurance advice and should not be used to replace an individual consultation with an insurance professional.

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