Building Contractors Insurance
What Is Building Contractors Insurance?
At The Insurance Octopus, this useful policy protects all types of building work, including: housing, hotels and commercial property, along with smaller domestic projects that keep your customers coming back for more. We can provide cover for all kinds of requirements – such as public liability, professional indemnity and legal expenses – ensuring you have peace of mind knowing your business is protected, and you can build upon it without worry.
Covering you against employer’s liability, and providing replacements for tools and equipment should they be lost, damaged or stolen, our policies really do offer the best in protection. As claims can be daunting, we make the insurance process hassle-free. A Feefo platinum awarded company with glowing testimonials, we’ll help you find the best policy for you.
What may a building contractors insurance policy include?
A key part of your operations, your tools, plant and equipment must be protected from loss, theft or damage. With equipment insurance, we can cover them all.
Professional Indemnity Insurance
Should a client claim bad guidance was given, or bad design was carried out, then we can provide cover from £50,000 to £10m for damages.
Public Liability Insurance
Should your work accidentally damage a client’s property, belongings or cause harm, then this policy will cover your business, and any compensation sought.
Employer’s Liability Insurance
You may do your utmost to protect your staff, but accidents happen, and you could be held liable. With £10m cover however, your team is kept safe, and your business protected.
How does insurance for building contractors work?
Comprehensive cover for those in the building trade
Working as a professional within the construction industry entails a certain number of risks which is why it’s important to have the right business insurance in place to protect your livelihood. Our range of construction contractor’s insurance packages can provide you with the cover you need to be confident that, should the worst happen, your business is safe and you are protected.
At The Insurance Octopus, our personalised business insurance policies are designed to be flexible, providing you the opportunity to put together a bespoke construction contractor’s insurance policy exactly how you need it, ensuring all the essential cover you’ll need in one business insurance policy.
As everyone needs slightly different business insurance based on his or her specific work, we have a selection of UK insurers providing the widest choice of PI insurance.
What your Building Contractors Insurance Policy includes?
Professional Indemnity Cover
Professional Indemnity Insurance (PI insurance), will protect you and/or your business against any financial or trading loss that may be caused as a result of bad advice or a mistake made in work. Professional Indemnity Cover limits from £50,000 to £10m.
Employers Liability Insurance Cover
Employers Liability Insurance Cover is required by law if you have one or more employees. Employers Liability Cover, is standard £10m and will protect you as the employer against claims from your staff should they be hurt when working for you.
Building Contractors Public Liability Cover
Public Liability Cover protects you if a customer or a member of the public is injured, or their property is damaged. Public liability Insurance protects you against the cost of repairs or any legal proceedings that could be filed against you. Standard levels of cover are available from £1m to £5m, with additional levels of cover available upon request and subject to insurer’s terms and conditions.
Legal Expenses Insurance
Legal Expenses Insurance can help cover the costs of defending a claim in the event that someone takes legal action against you.
Tools and Business Equipment Cover
Tools Cover helps you as a handyman and protects your tools. Tools are expensive investments that need to be safe-guarded should they ever be stolen or damaged. Replacing or repairing your trade equipment can be costly, so you do need to be covered for all eventualities. Tool Insurance can provide comprehensive cover so that you can replace any damaged, lost or stolen items and keep your business running.
Associated Claims Costs
Associated Claims Costs can cover you if a claim needs to be investigated further or there is a need to bring in expert witnesses in a court hearing. It also helps to cover additional costs associated with a claim that you would not normally have to pay.
Add on covers
Business Interruption, Personal Accident, Offshore working and more are all additional add-ons that can be increased or decreased as required. By having flexibility with your Professional Indemnity Business Insurance Policy from The Insurance Octopus, you can make sure your insurance is exactly what you will need.
Why you need Building Contractors Insurance?
Taking out the correct Building Contractors Insurance will ensure you are covered for all of the risks associated with your line of work. As a general building contractor or prime contractor you will ultimately be responsible for the day-to-day running of a construction site and project. Your work and any advice, designs or service you provide to your clients could leave you open to legal disputes if mistakes occur. Even if you haven’t made a mistake, the costs alone of defending a claim can be astronomical, so having the right cover in place can help protect you financially.
Professional Indemnity Insurance could provide necessary cover for contractors offering advice to clients
Building trade insurance experts
We cover a variety of trades and occupations, and are experts in providing Professional Indemnity Insurance, ensuring you get a bespoke policy that ensures you only pay for the cover you need. We have the ability to arrange additional cover for your business equipment at home, in the office or in transit and provide options for covering you in sector specific situations as required.
Spread the cost of cover
We can provide you with your business insurance and documents on the same day in most cases (subject to time of day restrictions), offering a range of flexible payment options, including Direct Debit. Speak to us today for more information and to get a quote.
Why choose The Insurance Octopus?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of Public Liability Cover. With more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
An expert who knows your industry
We’ll connect you with an agent who is an expert in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
How it works?
Examples of Building Contractors Insurance in action
Holding up the project
A professional construction site manager was overseeing a major building project. Unfortunately, when it came to completing the roof on the building, a few mistakes had slipped into his planning and the contractors were not available. This meant that the completion date of the project slipped by several weeks leading to the construction firm suffering cost penalties. The Professional Indemnity Insurance that the manager had in place meant he was able to cover the costs of the resulting legal action and continue his consulting career.
Types of professionals we can cover
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