06/01/2020

A Guide to Construction Insurance

Types of construction insurance

Construction is a high-risk industry, so it is important to make sure you and your business are protected from accidents and claims made against you with the right construction insurance. To help you get the right level of cover you need, our experts give a brief outline of the different types of construction insurance available and the benefits of each.

Contractors all risks insurance

This type of construction insurance covers you financially for any repairs on site, or if you need to redo the work you were contracted to complete, due to causes like fire, flood, storm, vandalism, or theft. Policies can be written on an annual or individual project basis and can also include existing structures and any temporary buildings.

Public and products liability

Public liability insurance protects you against claims made by a customer or client, usually relating to personal injury or damage to their property; for example, if a client tripped over wiring you laid and broke their arm in a fall. Products liability covers you should someone claim that a product you have supplied has caused damage, whether that is to their property or to their person.

Employers' liability

If an employee claims to have developed an injury or illness because of their work, they can file a negligence lawsuit against your business. Employers' liability construction insurance will protect you from legal fees, court costs and compensation incurred defending against the claim.

Plant insurance 

Due to the nature of the work and the heavy machinery that’s often needed, construction workers face unique risks that require unique cover. Plant insurance provides financial protection against any damage or loss that may happen to your equipment, whether it is hired or owned by your company.

Professional Indemnity

Professional indemnity insurance is important for construction workers as it protects against someone claiming that they have suffered loss or damage because of your professional negligence, negligent advice or breach of contract. If you are providing advice or designs it should be in place.

Lansdowne Woodward has been providing clients with fantastic construction insurance advice and deals for over 15 years. To discuss your needs with one of our experienced insurance brokers, contact us today on 01202 874 989