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Construction Insurance

Business insurance policies

Other available business insurance policies

We have a lot of experience organising both Commercial Motor policies for single vehicles and Commercial Motor Fleet policies if your business operates a fleet of vehicles. These policies can extend to cover automatic additions and deletions, free windscreen, along with other benefits. They will provide protection for your vehicles, including own damage and third party property damage.

Your ability to earn an income is likely your biggest asset that requires protection. Through our association with Atlantic Financial Services, we can provide advice on a range of personal risk insurances, including Income Protection and Life Insurance.

If your business carries significant debtors, what would happen if your customer went into liquidation, could not pay, or you were accused of receiving a preferential payment? A Trade Credit policy can protect you against this loss. Atlantic can access a number of markets to cover this large exposure.

Atlantic can provide advice and organise cover for both hobby farms and commercial farms that are your sole source of income. Specific conditions in many home policies exclude claims if your property is over a certain size or has animals that are not just domestic pets. Speak with us today to ensure you are properly protected.

A General Property policy can provide you with protection for your valuable items Australia Wide and can include cover for Accidental Damage, Fire & Perils, Burglary/Theft and Transit. Speak with us today to determine whether this cover will suit your needs.

Many businesses believe Product Recall is automatically covered under their Liability program. This is often incorrect. In the event that one of your products requires recall following a risk of physical damage or injury, this specialist policy can cover you for costs including advertising, cartage and other monies spent in securing the return of your product.

If you move goods locally or internationally we can assist with a Transit policy that will protect the carriage of your goods for imports, exports and local transit by air, road, rail and sea. We can also arrange cover for these goods while in storage.

Atlantic’s Corporate Travel policies can provide automatic protection for you and your employees while travelling on business. It can also cover Directors, senior staff and other nominated people for their leisure travel. Includes cover for baggage, medical, liability and other important exposures.

If you offer any advice or provide a professional service, we recommend that you speak to us about putting a Professional Indemnity policy in place. This will provide you with protection against claims of negligent professional advice.

We recommend that all of our business clients consider a Management Liability Policy which provides the Directors, Officers and Employees of your company against claims arising from negligence in the performance of their duties. Covers include Directors and Officers Liability, Employment Practices Liability, Crime, Statutory Liability and many more.

A Business Package policy is often the most cost effective way to cover a small businesses common Property and Liability Exposures. At Atlantic Insurance we have a wide range of policies available to protect your businesses exposures, including Fire and Perils, Burglary, Business Interruption, Money, Glass, Liability, Machinery, Transit and many more.

Our experience with construction insurance

We have looked after the Insurance needs of Builders and associated Trades for over 25 years. With Material prices continuing to surge and supply chain shortages, Builders are under increasing pressure to deliver projects on time and on budget. Having adequate Insurance provisions in place has never been more important.

What does construction insurance cover

Contract Works or Construction Works Insurance, which includes cover for Material Damage and Legal Liability, can cover Builders, Tradespeople and their subcontractors. This cover can extend to cover risks of fire, theft, malicious damage, storm, hail, cyclone, flood and accidental damage during a construction period. This construction could be a new home or Building or even a renovation or extension to an existing structure. A Contract Works policy can also provide “Existing Structure” cover where required as typically significant works to an already established home or building can render its current insurance arrangement null and void.

The Construction Site continues to be one of the highest hazard environments here in Australia.

It is important that you speak with one of our skilled Client Managers to ensure we understand your Business and Insurance needs and can source an appropriate Insurance solution.

Who needs to take out construction insurance

Any Builder, Contractor, Handyman or even Property Owner can take out a Contract Works Insurance Policy providing Building or Construction works are taking place. This policy is deigned to cover the typical range of exposures encountered whilst construction is underway. The risks presented in this environment differ from other worksites so it is especially important that the appropriate Insurances are in place especially in the case of a claim.

Whether it be a greenfield site, a significant renovation or development, or a large-scale installation of appliances or accessories a Contract Works policy can be tailored to meet your Insurance needs prior to “Practical Completion” or “Handover”. This can be an annual policy which is based on estimates and subject to an annual adjustment, or it could be job specific.

Does Atlantic Insurance assist with claims

Over time Atlantic Insurance’s Client managers have developed a strong understand of your insurance needs, expectations and the exposures you face during a Building Project.

We believe it is important that the same contact point who negotiated your Contract Works or Construction Works Insurance Policy is also your advocate in the case of a claim. Your Client Manager will assist in the collection of relevant information, supporting documentation and assist with the approach to the Insurer on your behalf. During the process they will work with any assessors appointed on behalf of the Insurers and will also liaise with any other parties to ensure the outcome meets expectations and is fair and reasonable.

What policy extensions / endorsements may be relevant to consider

We are experiencing a surge in renovations to existing structures in which case the Material Damage component of the cover can extend to include existing structures. This is crucial as there is often a misconception that existing structures will remain covered under existing property, home or business policies which is not the case. It is important the Insurer fully understands the nature of the existing structure to avoid any unnecessary complications in the case of a claim.

The right Contract Works Policy can also extend to cover a range of other assets commonly located on a Construction site. For example, fencing, scaffolding, temporary structures, toilets and tools. It can also include a provision for Materials that need to be stored offsite and can provide coverage for them in transit to and from the job site.

Some other endorsements / extensions we commonly discuss with our Clients include:

  •  Principal Supplied Materials
  • Variations & Escalations
  • Removal of Debris
  • Professional Fees
  • Pollution Liability
  • Mitigation Costs
  • Principal Supplied Items
  • Vibration, Weakening, Removal of Support

Current claims landscape for construction insurance

The Material damage component of a Contract Works Policy is always front of mind as these are the losses we typically see or hear about. The Personal Injury cover that is typically purchased in-line with Material Damage is equally if not more important. There is no doubt we continue to see an increase in legal action and recoveries across most industries and especially Construction. Writs and Recovery actions are commonplace and claims compensating for pain & suffering, loss of Lifestyle, loss of Income and loss of future earnings are not unusual.

Incidents involving workplace injury are being closely examined and are more frequently leading to legal proceedings. For entities in high hazard industries such as Building, a Management Liability policy is becoming a more common Insurance purchase. Not only does this provide the Owners of the Business with a level of protection via the Director and Officers cover, it also contains provisions to assist in instances of potential Employment Practices Liability claims and potential breaches of Occupational health and safety regulations which often remain undiscovered until after a claim and the intervention of a regulatory authority.


A Contract Works policy can have a tools provision included with the coverage. This will have coverage requirements, ie. stored within a locked box etc and it is important you are able to provide evidence of your loss with supporting documentation and photographs if applicable.

The Liability Section of a Contract Works Policy contains provisions to assist you with a defense in relation to Workcover Recovery claims. This type of defense can often be protracted and expensive.

If the Assets belong to you and form part of your contract to install, then you need to replace them. The Contract Works policy will enable you to replace these items.

This style of loss prior to practical completion or handover together with the reinstatement of these assets can be covered under a Contract Works policy.

Most Contract Works Policies include coverage for Materials stored offsite and can also extend to include coverage during transit to the site.

An annual Turnover policy extends coverage to all projects for a 12 month period. This removes the risk of overlooking the Insurance attaching to a project. Our experienced Client Managers will be able to provide advice on the different ways to declare projects for this 12 month period. A single project covers only one project at a time and coverage is specific to that project.

You are able to include a component of Principal supplied Materials under a Contract Works Policy to ensure if there is a theft of these items prior to completion and handover, the policy will respond.

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