Contract Works - DKG Insurance Brokers
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Contract Works Insurance

When you’re working on a construction site, plenty of things can go wrong. Damage or loss to a building could cost you time, money and even your reputation. Meanwhile, an onsite injury can result in considerable pain, stress and financial loss.

That’s why having the right amount and type of contract works insurance is an important part of your business toolkit, allowing you to get on with the job with less stress and worry.

Contract works insurance is recommended for small, medium and large commercial, industrial and domestic builders, sub-contractors and owner-builders. Most owner builders take out contract works insurance for a specific contract, while professional builders generally choose an annual policy that covers multiple contracts.

At DKG Insurance Brokers, we understand that the needs of each client are different, therefore we will take the time to assess your individual risk requirements and deliver a bespoke solution. Please reach out to one of our experienced brokers today.

Important note − The information provided is general advice only and has been prepared without taking into account your objectives, financial situation or needs. When making decisions about Contract Works insurance, please consider the Product Disclosure Statement.

“Millions of dollars in tools, equipment and materials are stolen from construction sites every year. This can have a significant cost impact for builders and their clients and result in delays to the building period if supplies are unable to be replaced.”
Housing Industry Association, 2021

Contract works insurance can cover the building, which is under construction, whether it’s a kit home, straw bale or mud brick home, multi-storey apartment or commercial buildings. It can also cover the equipment used in construction as well as public liability risk.

Depending on your policy, contract works insurance can cover you against:

Type of cover Potential benefits
Property damage Physical loss or destruction of tangible property, plant and equipment as well as removal of debris.
Public liability Sub-contractor liability, products liability and cross liability.
Product liability (only available from some insurers) Third party personal injury or property damage resulting from an occurrence caused by your products after they cease to be in your possession or control.
Legal expenses/defence costs Legal costs and expenses you are legally liable to pay following legal proceedings brought by or against you.
Existing structures (optional cover) Sudden and accidental physical damage to existing structures caused by natural events and the actions of the builder or contractor.

What usually isn’t covered?

Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:

  • Loss after work has ceased for more than the number of days specified in the policy.
  • Consequential loss.
  • Cost of rectifying or correcting defective workmanship.
  • Work underground or in water unless specifically agreed by the insurer.

Important note − The information provided is general advice only and has been prepared without taking into account your objectives, financial situation or needs. When making decisions about Contract Works insurance, please consider the Product Disclosure Statement.

“Millions of dollars in tools, equipment and materials are stolen from construction sites every year. This can have a significant cost impact for builders and their clients and result in delays to the building period if supplies are unable to be replaced.”
Housing Industry Association, 2021

“Millions of dollars in tools, equipment and materials are stolen from construction sites every year. This can have a significant cost impact for builders and their clients and result in delays to the building period if supplies are unable to be replaced.”
Housing Industry Association, 2021