Sum insured required to rebuild the project from new if totally destroyed by an insured event.
A Contract Works policy is designed to assist registered builders, contractors and owner builders to meet their contractual obligations to insure a building project. It provides for accidental loss or damage during the construction period for loss resulting from things such as fire, flood, malicious damage and theft.
The Contract Works policy can be extended to include cover for:
- Existing buildings which do not part of the contract works
- Constructional plant
- Materials in transit/storage
- Employees tools
- Public Liability
This policy is designed to provide insurance cover as required under a construction contract.
Please Note: Below are some of the more common insurance policy features, however, the list is not exhaustive and some features may not be offered by certain insurers. Please refer to the insurer-specific policy wording for inclusions, exclusions, terms and conditions.
