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Contract Works Liability
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things you must know aboutContract Works Liability Insurance |
Who needs Contract Works Liability Insurance?
Anyone involved in construction, maintenance, installation or repair services.
Why should you take out Contract Works Liability Insurance?
We live in a country rife with crime, changing weather conditions and less robust equipment. Add to this the growing tendancy to be held accountable for damages you cause to third parties, and the need for Contract Works Liability Insurance becomes obvious. Insurance costs a fraction of the price of replacing your projects if these are damaged, or your materials if these are stolen, or redoing the work or reimbursing the losses you caused to your client or third parties. Taking out Contract Works Liability Insurance is a prudent way to ensure that your business will survive through all the trials and tribulations it will face.
How much does Contract Works Liability Insurance cost?
Very little! We have a large book of clients with many different insurance companies, so we will be able to find the most beneficial policy with the cheapest premiums for your business.
Typical claims incurred on Contract Works Liability Insurance policies:
The most common claims on Contract Works Liability Insurance policies involve theft of materials, materials being damaged whilst en route to site, surrounding property being damaged whilst the project is being completed, or a part of the project failing causing other parts of the project to be destroyed. The most expensive claims tend to be caused by fires, rain falling on exposed parts of existing structures, lightning damage, and violent storms. These can wreck havoc on the still fragile structures. Contractors also have the potential to create huge liability claims when their work effects third parties.
What other insurance should be considered along with Contract Works Liability Insurance?
Most principals insist on liability cover being in place on all projects. Contract Works Liability Insurance will automatically include this, plus will also automatically include cover for Surrounding Property (take note that not all policies automatically include this). We can also assist you if your principal requires a performance bond, employers liability insurance or general works insurance. We can also insure your tools, vehicle, laptop or whatever other assets assist you in the completion of your projects.
GET A QUOTATION:
Please note that we can only insure Contract Works projects based in Sub-Sahara Africa.
Click here to send us an e-mail requesting a quote on your contract -> insurance@barrington.co.za. We will e-mail you an obligation free quotation so that we can show you what you will save if you insure with Barrington.
Contact details will be kept confidential and will not be used in any way other than as described above and will not be shared with any other parties.