Builders Insurance
The construction industry comes with its share of risks, from project delays to site damage and liability claims. That’s why builders insurance, also known as builders risk insurance or domestic builders insurance, is essential for protecting your business, assets, and reputation. At Business Insurance Specialists, we provide tailored builders insurance policies to meet the unique needs of construction professionals.
What Is Builders Insurance?
Builders insurance is a specialised type of coverage designed for professionals in the construction industry. It provides financial protection for property, tools, liability, and unforeseen issues during the building process. Known by names like builders risk insurance or contract works insurance, this coverage is often a legal requirement for contractors and builders operating in Australia.
What Are the Benefits of Builders Insurance?
Investing in builders insurance coverage offers a wide range of benefits:
- Financial Security: Protects against costly claims and damages to your property or tools.
- Project Continuity: Ensures that unexpected issues, such as weather damage, don’t derail your timelines.
- Legal Compliance: Helps you meet contractual and regulatory requirements.
- Client Confidence: Demonstrates professionalism and reliability to clients.
- Peace of Mind: Allows you to focus on your projects without worrying about potential risks.
What Does Builders Insurance Cover?
A builders insurance policy typically includes the following coverage:
- Material Damage: Protects your construction site, tools, and equipment against accidental damage.
- Additional benefits including Principal Materials coverage when specified
- Public Liability Insurance: Covers legal and compensation costs if a third party is injured or their property is damaged due to your work.
- Contract Works Insurance: Provides coverage for incomplete construction projects damaged by perils such as fire, storms, or theft.
What Isn’t Covered by Builders Insurance?
While comprehensive, builders insurance coverage typically excludes:
- Wear and tear.
- Intentional acts or negligence.
- Normal liability exclusions where coverage is obtained separately where required including Asbestos Liability, injury to employees.
Who Needs Builders Insurance?
Builders insurance is essential for a wide range of professionals in the construction and building industry, including:
- Licensed builders.
- Contractors and subcontractors.
- Residential and commercial construction companies.
Why Is Builders Insurance Important?
Construction projects are inherently risky, involving expensive materials, heavy equipment, and a dynamic working environment. Without the right coverage, a single accident or unexpected event could lead to financial ruin.
Builders insurance policies not only protect your business from such risks but also help you comply with industry regulations and contractual obligations. It’s an investment in the stability and credibility of your business.
Why Choose Business Insurance Specialists for Builders Insurance?
With over 20 years of experience, Business Insurance Specialists (BIS) is the trusted choice for construction professionals seeking tailored builders insurance coverage. Here’s why:
- Tailored Policies: We customise your policy to suit your business’s unique risks and needs.
- Expert Guidance: Our experienced team understands the complexities of the construction industry.
- Exclusive Products: Access competitive policies not readily available on the market.
- Claims Support: We assist you in navigating the claims process, ensuring you receive the compensation you deserve.
- Proven Reputation: BIS is a name you can trust.
About Business Insurance Specialists
Founded in 2003, Business Insurance Specialists has been providing top-tier insurance solutions for businesses of all sizes. Headquartered in Brisbane, we offer a full range of services, including builders insurance, with a focus on personalised service and stellar expertise.
Our commitment to excellence and client satisfaction has earned us numerous accolades and a loyal customer base across Australia.
Secure Your Builders Insurance Today
Don’t let unexpected events disrupt your projects or put your business at risk. With tailored builders insurance policies from Business Insurance Specialists, you can protect your assets, your income, and your reputation. Whether you’re managing residential or commercial projects, we’re here to help you every step of the way.
Explore additional construction-related coverage:
- Building and Construction Insurance: Comprehensive protection for construction professionals.
- Construction Liability Insurance: Safeguard your business from public and product liability risks.
Contact us today to speak with a specialist or fill out our online form for a no-obligation consultation. Let Business Insurance Specialists design a policy that ensures your business thrives. Call us at (07) 3139 3900 or click the links above to get started.