Dedicated, specialist insurance to protect work under construction.
Contract works insurance is essential for anyone involved in construction or project-based work – because when things go wrong on site, the consequences can be costly.
Contract works insurance ensures your project is protected if the unexpected happens. No matter how careful your planning or how skilled your team, accidents, theft, or damage can still occur – and this type of construction insurance means you’re covered from start to finish.
What Is Contract Works Insurance?
If you’re working on a construction project, contract works insurance protects you against accidental loss, damage, and destruction of the works in progress, plant and equipment, as well as any materials on site. Plus, contract works cover can also reimburse you for the labour used on the project, so you can work to restore the project to pre-damage quality, without you or your customer having to foot the bill.
What Does Contract Works Insurance Cover?
Contract works cover protects you and your business from several risks:
Floods
Floods can occur at any time, especially if you’re working on sites near rivers or the coast. Flooding could damage your construction projects and set back completion several months.
Fire
Fire is a significant threat in construction projects, and can set work back considerably if it destroys or damages sites. Contract works insurance means if a fire does accidentally break out, insurance can help cover the cost of restarting work..
Theft & Vandalism
According to Sitewatch Group, the construction industry loses around £800 million every year to both theft and vandalism. Deliberate destruction of your projects can set timelines back significantly, and having materials, tools and plant on site stolen or damaged can impact your finances. Ensure you’re covered with bespoke contract works insurance, so you don’t have to replace them out of your own money.
What Contract Works Insurance Does Not Cover
There are several common exclusions for contract works cover:
- Acts of terrorism
- Wear and tear
- Loss or damage due to faulty or poor design
- Existing structures are not typically covered, as the purpose is to cover the new works in progress.
Specialist “existing structure” cover can sometimes be added for renovations or extensions, or a separate policy for the property owner may be required.
Contact Wentworth Alexander today to learn more about contract works insurance. We have years of experience helping businesses across various industries protect their construction projects from unforeseen events.
Our clients include:
Key sectors
Automotive
Woodworking
Chemical
Electrical &
Electronics
Fashion & Footwear
Food & Drink
Plastics
Additive
Manufacturing
Metal
Fabrication
Creative/Digital
Agencies
Software Development
IT Service
Providers
Additional Business Insurance
There are multiple other types of business insurance to consider alongside contract works cover:
Hired In Plant Insurance
Machinery is expensive to replace, and if any accidental damage or theft occurs, you could be liable. Contract works insurance will cover hired-in plant; however, if you do not require the rest of the covers you could benefit from hired in plant insurance in isolation. Get in touch with Wentworth Alexander to discover more about our hired in plant cover.
Construction And Property Insurance
With a wealth of industry knowledge, the team at Wentworth Alexander can provide expert advice on a wide range of construction and property insurance. We’re here to support you and negotiate competitive premiums for you.
Contract Works Insurance and Contractors All-Risk Insurance
Contract works insurance and contractors’ all-risk insurance are similar, but have slightly different offerings.
Whilst both will cover the works in progress, plant (own and hired-in), tools and materials on site, Contractors’ all-risks insurance can be extended to include public liability, employers’ liability, employees tools and effects too.
Wentworth Alexander can help you find the cover that’s right for you. Get in touch with our team today to discuss your needs.
Contract Works Insurance With Wentworth Alexander
Whether you’re a builder, contractor, or developer, our expert team will tailor a policy to suit your specific needs, ensuring peace of mind from the ground up. Don’t leave your project at risk – contact Wentworth Alexander today and let us provide the coverage you can rely on.
Contact us
Get in touch about your insurance
Our team is ready to help you find the right insurance solution. Speak to our specialists today to discuss your insurance needs.
Our team will be happy to help and provide you with the advice you need.
Redlands
Cliftonville
Northampton
NN1 5BE
Contract Works Insurance FAQs
What Does Contract Works Insurance Cover?
Contract works insurance covers damage to construction projects, such as the works in progress, tools, materials and equipment on-site. It provides protection against risks such as fire, vandalism, theft, or accidental damage that may occur during the construction process. It can also cover loss or damage to temporary works, including scaffolding and formwork.
Who Needs Contract Works Insurance?
Contract Works Insurance is essential for contractors, subcontractors, and businesses involved in construction projects. It may be necessary for those responsible for managing or working on a construction site, including builders, developers, and project managers.
Essentially, if you are overseeing, planning, or carrying out construction work, you should consider taking out Contract Works Insurance to protect against potential financial losses due to damage or delays.
How Does Contract Works Insurance Work?
Contract Works Insurance works by providing cover for the construction project from the start of the work until completion. If damage or loss occurs during the construction process, the insurance policy will cover the costs of repair or replacement of materials, equipment, or works in progress.
The level of cover depends on the specifics of the project and the chosen policy.
How Much Does Contract Works Insurance Cost?
The cost of contract works insurance varies depending on several factors, such as the estimated value of the project you’re working on, the cost of labour and materials, the value of plant, and any hiring charges. For a dedicated quote, get in touch with Wentworth Alexander today.