Construction Industry
Insurance

Builders Contract Works & Public Liability

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Trades
Insurance
Policies

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Owner
Builder
Insurance

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Home Building
Compensation
Fund

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Construction Industry Insurance Specialists

We know that in today’s volatile market, the increasing costs of building materials and labour shortages can be crippling. This can force business owners to face tough decisions leading to reduced margins, poor cashflow, delayed project deadlines, and unfortunately, underinsuring projects. By understating project values or construction periods within your Insurance policy it can leave you and your client underinsured or with a significant gap in cover, further exposing the business to a potential claim not being fulfilled.

Let us assist in designing a policy fit for your business so you can build with confidence and know that your projects are appropriately covered.

Builders Contract Works & Public Liability

Contract Works & Public Liability Insurance is an essential and comprehensive policy that covers damage related to the contracted responsibilities of the builder arising from an insured event. Additionally, it addresses negligence on the builder’s part, covering third-party property damage or bodily injury.

Key coverage additions to consider within this policy can include:

Provides protection for any pre-existing structures on the property during a construction or renovation project. This coverage ensures that any damage to the existing structure, whether it’s due to fire, theft, vandalism, or other covered events, is included in the policy.

Provides coverage for both the structure of the display home and its contents. This type of insurance is crucial for protecting your investment in the display home, as well as the valuable items within it, from risks such as fire, theft, vandalism, and other covered events.

Is an essential part of insurance for businesses that rely on heavy machinery and equipment. This coverage protects against risks such as theft, loss, or damage to both major equipment (like cranes and excavators) and minor tools (like hand tools and small machinery) used in your operations.

Provides coverage for materials, supplies, and equipment while they are being transported or stored. This type of insurance is crucial for businesses that frequently move valuable goods and materials between locations, as it protects against risks such as theft, loss, or damage during transit and storage.

Refer to the additional expenses that may arise during a construction project due to unforeseen circumstances, such as changes in material prices, labor costs, or other financial factors.

Refer to the expenses incurred to gain entry to a construction site or to move materials and equipment to and from the site.

Refer to the additional costs incurred to speed up the repair or replacement of damaged property or equipment after an insured event.

Refer to the expenses incurred to prevent further loss or damage after an initial insured event. This type of coverage is crucial for minimising the overall impact of an incident and reducing the likelihood of additional claims.

Coverage includes the costs associated with hiring professionals to assess, manage, and resolve issues following an insured event. This is particularly important for complex claims that require expert input.

Coverage is an essential aspect of an insurance policy that addresses the costs associated with the cleanup and removal of debris following an insured event, such as a fire, storm, or other damage. This coverage ensures that your property can be swiftly and safely cleared of any hazardous or unwanted materials, allowing you to begin repairs and restoration as quickly as possible.

Coverage is designed to cover the expenses associated with locating and recovering lost or stolen property. This can include costs for hiring professionals to track down the property, such as private investigators or specialised recovery services.

Cover can cater to someone else’s property whilst in your care, custody, or control, and it gets damaged.

Coverage is designed to protect against damage caused by vibrations or the removal or weakening of support structures during construction activities.

If you are interested in starting a new policy, please reach out to us to discuss the options available to you. We are here to help.

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Trades Insurance
Policies

Trades insurance is a comprehensive term for various business insurance policies designed to protect trade professionals, such as carpenters, electricians, plumbers, landscapers, and more, from financial loss due to accidents, negligence, theft, fire, or flood while they are at work.

Key coverage additions to consider within this policy can include:

Covers legal costs and compensation claims if a third party is injured or their property is damaged while you are working.

Protects your tools and equipment against theft, loss, or damage.

Provides financial support if you are unable to work due to illness or injury.

Covers legal costs and damages if a client claims your professional advice or services caused them financial loss.

If you are interested in starting a new policy, please reach out to us to discuss the options available to you. We are here to help.

Book a Free Consultation Today

Owner Builder
Insurance

Owner builder insurance is essential for anyone undertaking a home construction or renovation project as an owner builder. This type of insurance provides coverage for property and construction materials during the project, protecting against risks such as fire, theft, vandalism, and other unexpected events which could impact your activities.

Key coverage additions to consider within this policy include:

Protects materials, supplies, and equipment on-site, in transit, or at other locations.

Covers liabilities such as accidents on the premises, bodily injury, and property damage.

Coverage can be extended to include additional risks like scaffolding, temporary structures, and debris removal.

It’s important to work with an insurance broker to ensure you have the appropriate coverage limits and policy details tailored to your specific project needs. If you are interested in starting a new policy please reach out to us to discuss the options available to you. We are here to help.

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Home Building Compensation Fund

iCare are the sole providers for Home Building Compensation Fund Insurance or HBCF. HBCF is required to be provided by Builders or Contractors on behalf of Home Owners for any residential build contract over $20,000. It covers for defective works or incomplete works in association with the contract in the event the Builder or Contractor dies, disappears, becomes insolvent or fails to comply with a work order and has their licence cancelled. The maximum payout considered by HBCF is $340,000 per policy.

We have over 19 years experience with the home owners warranty/HBCF product and are well placed to advise you on your business and HBCF goals.

HBCF is a specialised product which is only handled by recognised distributors on behalf of iCare. As an authorised representative of Finsura Insurance Broking Australia, we are recognised to lodge and process HBCF certificates, facilitate eligibility reviews and liaise with iCare underwriters helping to advocate on your behalf.

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