Tradesman: Building Contractors Insurance

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Building Contractors Insurance

As a building contractor you'll carry out types of general building work - joinery, plumbing, electrical, plastering etc - on domestic, commercial and industrial properties.

Working on extensions to building, new builds, conservatories, loft and basement conversions as well as refurbishments.

Cover for ALL trades can simplify things on the policy, whether it's plumbing or electrical work etc., the trades will be covered.

If you carry out demolition work as part of a building contract, be especially careful as insurers often put strict limitations on what you can and can't do.

Demolition

A contract solely for demolition and stripout works will not usually be covered under a general building contractors insurance policy.

Demolition tends to be permitted only if it's part of a rebuilding contract. Even then some insurers will prohibit the use of demolition plant and specify height restrictions, eg, 8 metres.

Asbestos

You're likely to encounter asbestos on some building contracts, so make sure you're up to speed with health & safety issues surrounding its safe removal and disposal otherwise you could face prosecution and fine.

Employees and Subcontractors

Building contractors with more than 10 manual workers are less likely to be able to buy insurance instantly online as insurers often want to find out more about your activities.

If you hire in labour only workers i.e. workers who work under your supervision using your tools and materials to complete parts of the job - plasterers or painters, say - you'll possibly need employers liability cover for them as well as public liability insurance.

You don't need employers liability cover for bona fide subcontractors who work under their own steam and use their own tools and materials, but you need to check that they've got adequate insurance cover of their own.

Insurance Brokers and Companies

Federation of Master Builders

Set up over 60 years ago, the Federation of Master Builders (FMB) is the biggest trade association in the UK construction industry.

Non profit making, it represents small and medium-sized building firms and offers professional advice and support to members.

To be eligible to join, you must have traded for at least a year and have public and employer liability insurance.

Ordinary members get 15% discount on commercial insurance cover through FMB Insurance Services. For MasterBond members the discount rises to 25%.

Policy features

• Public and employers' liability
• Contract works
• Construction plant and equipment

Registered house builders can offer customers the FMB Masterbond warranty which protects both the builder and the customer for building work for up to 10 years after completion.

Defects due to faulty workmanship or materials are covered for the first two years, and structural defects for a further eight years.

Adding 1.5% to the total cost of the job, a MasterBond warranty also covers the builder for work carried out by sub-contractors.

Policies are provided by Allianz Cornhill, a subsidiary of Aon Limited.

Contract Insure

Insurance policies for the construction industry frequently contain bog standard wording, and impossible warranties and conditions that can leave you uninsured in the event of a major loss.

That seems to be the opinion of Billericay-based Contract Insure who pride themselves in their tailor made insurance solutions at competitive rates for the construction industry.

Part of the Direct Insurance Group, they believe they're different from most allied trade insurers as they do their best to avoid the sometimes impossible conditions found in standard insurance packages for the sector.

They guarantee to cover all of your company risks at a reduced level of cost and service, provide instant advice plus exclusive finance agreements to spread the cost of your payments.

Small and large businesses in all trades are covered, as well as those involved in high risk activities including:

• Asbestos Removal
• Builders
• Civil Engineers
• Demolition
• Ground working
• Lift Engineers
• Piling Contractors
• Roofers
• Scaffolders
• Steel Fabricators
• Steel Erection
• Tunnelling
• Railway Contractors
• Offshore Contractors
• Welders
• Waste Management

Contract Insure Construction Contract Works Insurance

Contract Works Insurance, also known as contractors all risks, covers temporary and permanent construction works as well as materials and tools that are stolen, lost or damaged before the contract's finished.

Completion of a proposal form isn't required. Cover can include but isn't limited to:

• 'All Risks' cover for contract works on site up to handover and 14 days after if required by the contract
• Transit to or from contract site (not by air or sea)
• Contract works stored off site
• Debris Removal
• Professional Fees
• Cost of materials and clerical labour for redrawing plans
• Hired-in plant cover
• Continuing hire charges for loss or damage to owned equipment

To discuss your needs, fill in the online contact form and one of their team will call you back. direct-ins.co.uk

B Portwood & Co

Gateshead-based insurance broker B. Portwood & Co provides contractors insurance for small businesses including the self employed sole trader and limited companies based in the UK and Northern Ireland.

Most trades are covered, including builders, scaffolding, steel erecting and roofing contractors, usually with no height limits. Premiums are calculated on a per capita basis (no wage declaration) for small businesses with fewer than 10 workers. For larger companies, they work out premiums on a turnover basis.

Policy features:

• Public liability insurance - £1m, £2m, £5m (higher limits available)

Optional extras:

• Employers liability - up to £10m ( higher limits available)
• Tools cover
• Contractors all risks (hired in and own plant as well as works)
• Accident cover

You can also buy legal expenses insurance from £42.00 - you can take this cover out singly.

Demolition Contractors Insurance

WW Group

Leicestershire based brokers WW Group specialise in high risk insurance for demolition, diamond drilling, ground working and piling, pile driving and pipe jacking contractors.

They can provide policies with no height or depth restriction, including work with heat and cover for hazardous locations.

There's no limit on either Public or Employers Liability insurance.

another benefit is that it is Underwritten In Lloyds, an "A" rated Insurer

wwgroup-insurance.com