construction insurance


Protect yourself - Replacing materials and re-building, not to mention delays caused by damage can seriously increase your costs. Contract works insurance can minimise these losses.


If you are carrying out work on your existing home it is important to let your broker know – if you don’t inform your insurance company, your house insurance may be invalidated.

If you are building a new home you will need insurance cover. Some builders carry their own construction insurance and this is included in their costs to you. If you are relying on your builder to provide this cover ask to see a current policy. If not, you can arrange insurance yourself whilst construction is in process.

Below are the types of construction insurance options available:

Annual cover

Open Declaration

This covers all your projects automatically up to a specified value and time frame. One declaration is required at the beginning of the period of insurance and a provisional premium is based on this information. A further declaration is completed at the end of the period and any adjustments (up or down) will be made to the premium then.

Project Declaration

This differs from the policy above in that a declaration is completed at the beginning of the insurance period to receive the peace of mind of an annual cover. A nominal premium is paid at the beginning of the period and then a simple proposal is completed upon inception of each and every contract. The premium is charged on each separate risk and terms are set at the beginning of the period. This enables you to pay as you go rather than pay a lump sum at the beginning of the period. However it is important that a proposal be completed for each and every contract to ensure cover is in place.

Single Projects

This is as it states – an individual policy for each and every risk. This is best suited to individuals who may only be involved in constructing a small number of buildings in a 12 month period and is ideally suited to people who are arranging their own insurance for the building of their home. Should you wish clarification of this please CLICK HERE and we can arrange to contact you to discuss this further.

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