Contract Works

Important cover for commercial, industrial and domestic builders, sub-contractors, and owner-builders against damage, natural disasters, injury, theft and product or public liability.

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.

Contract works insurance can cover the building which is under construction, whether it’s a kit home, straw bale or mud brick home, or multi-story 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:

• Natural disasters, such as bushfires, fire, earthquakes, flood and water damage, subsidence and landslip, storm, tsunami or wind
• Damage to property caused by defects, theft and malicious damage or vandalism
• Smashed glass
• Public and products liability insurance, plus extra related costs
• Third-party personal injury or property damage, as well as extra costs like replacing builder’s tools, escalation or removal fees

There are exclusions. There is also often a deductible or excess and limits on cover, so check with your GSK insurance broker.