Contractors' all-risk insurance

Contractors' all-risk insurance (sometimes referred to as 'contract works insurance') is a policy that covers all risks normally associated with a construction project.

Issued commonly under the joint names of a contractor and a principal client it can protect against:

• The cost of unforeseen loss or damage to building works.
• Machinery movement.
• Public liability.
• Tools.
• Plant owned by the policy holder.
• Plant hired in.
• Business interruption.
• Equipment erection.

Cover is usually provided for the construction period but it can be extended to included the defects liability period too.

Contractors' all-risk insurance is available from a wide range of insurance providers.

[edit] Related articles on Designing Buildings Wiki

• 3D animation for insurance risk analysis.
• Business interruption cover under COVID-19.
• Collateral warranties.
• Damage caused by construction works.
• Defects liability period.
• Directors and officers insurance.
• Environmental Impairment Liability (EIL).
• Factors affecting property insurance premiums.
• Future of construction insurance.
• Insurance.
• JCT Clause 6.5.1 Insurance.
• Joint names policy.
• Making sure your builder has appropriate insurance.
• Parent company guarantee.
• Performance bond.
• Professional indemnity insurance.
• Professional Indemnity Insurance clause in conditions of engagement.
• Residual value insurance.
• Retention.
• Risk management.
• Risk register.
• Run-off cover.
• Self build insurance.
• Single project professional indemnity insurance
• Specified perils.
• Subcontractor default insurance (SDI).

[edit] External references

• Construction Insurance : A Builder's Guide

Comments

To start a discussion about this article, click 'Add a comment' above and add your thoughts to this discussion page.