Helps cover costly legal fees if your construction activities injure a third party – or damage their property.
Cover if a third party is injured or their property is damaged during construction
As a result of builder’s negligence.
Up to $20 million public liability limit
The limit of liability is the maximum amount that can be provided under the insurance policy.
Single project or annual turnover cover option. Transfer basis annual policy option also available.
The policy structure best suited to your business needs may vary on the size, value and risk profile of your construction projects.
Products liability cover for certain risks after works have been completed
After they have ceased to be in iInsured’s possession or control.
Coverage Australia-wide
Helps cover physical loss or damage to buildings, materials, equipment and more – as well as assets in transit or storage.
Cover for physical loss or damage to buildings, materials, temporary works and equipment that are a part of construction-related activity
Including cover for property whilst in storage and in- transit.
Up to $20 million material damage liability limit
The limit of liability is the maximum amount that can be provided under the insurance policy.
Optional cover for plant and equipment damage, loss or theft up to an agreed sum insured
$100,000 any one loss – Mmaximum $500,000 sum insured. Automatic inclusion for construction plant and& equipment up to $100,000, provided such property is notified within 60 days.
Existing structures up to $500,000 any one ES without referral
$1 million maximum all existing structures. Any limits over this are referrals.
Coverage Australia-wide
Why should you choose Marsh to arrange your insurance solutions?
You aren’t legally obligated, but we highly recommend it – especially if your company offers building design advice or services.
If a client claims you made an error that led to injury, damage or financial loss, you may be liable to compensate their losses.
Yes. We can arrange monthly instalments* with a premium funder, provided you meet certain criteria.
To arrange monthly payments, talk to one of our dedicated Marsh insurance brokers.
Single project cover is a policy procured on a case-by-case or ad hoc basis. Some businesses need this under a contractual obligation.
Generally speaking, it’s most beneficial for projects that are at high risk of natural catastrophes. Large-scale construction projects, more complex in nature, also benefit greatly from this form of cover.
Contrary to single project cover, we can also arrange construction insurance on an annual basis. This form is called annual blanket cover.
It’s most beneficial for builders and construction companies who complete multiple projects in a year. They might need cover that includes pre-agreed parameters and limits for many projects under a single policy.
Yes. Home viewings, though a standard part of sales operations for domestic builders, can expose builders to heightened theft and damage risks. (Especially since these buildings are rarely occupied outside the typical 9- to- 5 window.)
We can arrange builders insurance with optional display building and content cover as an add-on. Be sure to ask your broker for this addition when you apply for a policy.
Contract works insurance and construction insurance are interchangeable terms.
They both refer to cover designed to help protect small- to- medium-sized construction companies against physical loss, damage and legal liability. And they both combine public and product liability cover with material damage cover.
It varies from insurer to insurer. Your policy may look different depending on who provides it – and inclusions may only apply to certain projects.
Generally speaking, a typical construction policy can cover physical loss or damage to buildings, materials, temporary works and construction-related equipment.
This might be due to:
Fire
Theft
Vandalism
Construction collapse
Storm and flood damage
Natural catastrophes – such as earthquakes and cyclones.
Between material damage insurance and public liability insurance – two standard covers under this policy – construction insurance can also cover legal liability for third-party injury and property damage.
We work with building and construction companies of all sizes – on projects of all sizes. Our specialist brokers will be happy tailor a policy to the specific risk exposures you face.
You can request a call back to speak to one of them today.
Protect your business against claims of misleading advice, breach of duty and negligence with professional indemnity cover.
Insurance can be a lifeline. But lump sum premiums can be a hindrance. Pay in monthly instalments with premium funding arranged by Marsh.
With personal accident cover you can be sure your medical expenses are covered in the event of an on-the-job injury.
A construction project can’t be rushed – but it can be derailed unexpectedly. Let our expert brokers arrange your contract works cover.
Subcontractors aren’t always covered by a builder’s insurance – even if the building site is. Let us arrange cover to help protect you.
For engineers, careful risk management is key. Let us arrange insurance tailored to you – so you can stay focused on innovation.
*Interest and additional fees are applicable. Terms and Conditions apply.
LCPA 23/144
Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“Marsh”) arranges the general insurance (i.e. not the Discretionary Trust Arrangement) and is not the insurer. This page contains general information and does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). Any advice or dealing in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) (“JLT”). JGS and JLT are businesses of Marsh McLennan. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.
