Contract Works or Construction Works Insurance, which includes cover for Material Damage and Legal Liability, covers builders, tradies and subcontractors against accidental physical loss or damage to their build project during the construction period. The policy covers the build project from risks such as fire, theft, malicious damage, storm, hail, cyclone, flood and accidental damage.
Contract Works Insurance (also known as Construction Works) provides cover for a number of risks, some of which are outside of a builder’s control. As well as providing cover for losses to the build project caused by insured events, it can also include public and products liability cover.
Up to the sum insured – either $5 million, $10 million or $20 million
Builders typically have a contractual responsibility to insure their construction works during the construction period. Plus, financiers of construction projects usually require proof of construction insurance before they will make progress payments.
HIA Insurance Services understands the unique risk profile of workers in the residential building sector, which means it has factored a broad range of inclusions into its Contract Works (Construction Works) Insurance policies. Contract Works policies issued through HIA are underwritten by QBE Insurance.
Available as a Single Project Policy or Annual Turnover Policy.Speak to an expert
See what else is included
Protection for your build/s throughout the entire contract period of construction.
No need for further cover extensions to protect property on top of what’s insured in the contracted works.
1Subject to the full terms, conditions and limits of the applicable policy wording.
Construction Works Insurance for the Building and Construction Industry is issued by QBE Insurance (Australia) Ltd (ABN 78 003 191 035, AFSL 239545) If you purchase this insurance, HIAIS will receive a commission that is a percentage of the premium. Further information can be found in HIAIS’ FSG or provided upon request. The information contained on this webpage is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a product is right for you, please consider the relevant Product Disclosure Statement (if applicable) and full policy terms and conditions available from HIAIS on request. All representations in this communication in relation to the insurance products HIAIS arrange are subject to the full terms and conditions of the relevant policy. Please contact HIAIS if you have any queries.