Builders Insurance
Builders Insurance
Builders insurance is a type of business and liability insurance specifically designed for builders and includes cover for building new or repairing private and commercial properties, surveying, and visiting properties for quotes. Even when following the HSE guidelines, accidents can still occur. For example, say you left your toolbox out when taking a call and a member of the public tripped and sprained their ankle, or your ladder falls and goes into the neighbours window – would you be covered?
One in every ten major job-related injuries happen in the construction industry, so it is essential to have the right cover to protect yourself, your employees, and your business.
What is included in Builders Insurance?
If you employ anyone, it is a legal requirement to have Employers’ Liability. Most policies include Public Liability and Product Liability, which protects you against claims made by your client or a member of the public, either as a direct result of your work or the products that you provide. Many local authorities ask for a minimum cover of £5 million prior to contract signing.
The services and advice you provide are the backbone of your job, but a client may claim that what you built was inadequate. Professional Indemnity Insurance helps cover the legal costs and expenses that occur while defending such claims. Finally, personal accident and sickness insurance protects you against footing potential bills if you are off work for a prolonged period because of an accident, either at, or outside of work.
What Specialist Policies can I add to a Builders Policy?
Your tools are your life when you are a builder, so it is highly recommended you take out tools insurance which covers the cost of replacement. Contractors’ All-Risk covers work carried out by builders or contractors that could be accidentally destroyed by natural disasters, theft, and vandalism. It can cover temporary buildings and hired tools or equipment. If you have a van, this can also be added onto the policy. In addition, you can also get an optional policy called building guarantees and warranties which is provided by you as a developer to the owner or buyer and states that your work has been completed to a high standard. It is available for residential buildings, custom-builds, housing developments, and commercial premises and covers structural damage and defects.
Additional Covers Available
Why Choose Konsileo for your Builders Insurance?
Structural integrity is at the front of builder’s minds, so there is no reason for your insurance policy to not be the same. Making sure you are protecting your tools and your work against any eventuality is imperative to ensuring your business thrives for years to come. Our specialist brokers have a wealth of experience dealing with a multitude of different projects and can tailor policies to your needs. Get in contact today and secure the future of your business.
Protect your business, properly.
Get In Touch Today
Frequently Asked Questions
Builders insurance is specialist business insurance designed to protect builders and construction professionals against the financial risks they face while working. Depending on your business needs, a builders insurance policy can include public liability insurance, employers' liability insurance, contract works cover, tools and equipment insurance, professional indemnity insurance, and commercial vehicle insurance. Having the right cover helps protect your business from unexpected claims, accidents, theft, and project-related losses.
The insurance a builder needs depends on the type of work they undertake, but most builders should consider:
- Public liability insurance
- Employers' liability insurance if they employ staff
- Contract works insurance
- Tools and equipment insurance
- Professional indemnity insurance if providing design or consultancy services
- Commercial vehicle insurance for business vehicles
A tailored builders insurance policy ensures your business is protected against the risks associated with construction work.
Public liability insurance is one of the most important types of insurance for builders. It provides financial protection if a member of the public is injured or their property is damaged as a result of your work. Many clients, developers, local authorities, and principal contractors require builders to have public liability insurance before awarding contracts or allowing work to begin.
The cost of builders insurance varies depending on several factors, including the type of work you carry out, your annual turnover, number of employees, claims history, level of cover required, and the value of your tools and equipment. Builders carrying out higher-risk activities may pay more than those undertaking lower-risk work. Comparing tailored quotes can help you find comprehensive cover at a competitive price.
Many builders insurance policies offer optional or included tools and equipment cover. This can protect your owned or hired tools against theft, accidental damage, fire, or vandalism, depending on the policy terms. Because tools are essential to completing projects, ensuring they are adequately insured can help minimise costly delays and replacement expenses following an unexpected incident.