Builders Insurance
Custom insurance policies to suit your needs
Insurance for Building Industries
The building and construction industry is complex and at Be Covered Insurance Brokers, we are passionate about building a tailored builders insurance program that works for you.
When it comes to insurance for the construction and building industry, it really helps to have a specialist insurance broker who understands:
- Risks you face on and off site
- How the contracts you are signing affect your insurance coverage
- What benefits you are entitled to in the unfortunate event of a claim
- Ensuring your risks are covered off as the industry and world change around you
Request a builder-specific insurance review
Builders Insurance Products from Be Covered Insurance Brokers
Building Civil Contractors Insurance
Civil contractors build the infrastructure that makes Australia.Whether it’s a new freeway, bridge or overpass, subdividing a new development, maintaining roads or preparing land for building work, civil contractors work in an increasingly complex and regulated environment, and are being required to take new risks, work in and around new technology and construction methods, as well as deal with new procurement methods. It’s vital for civil contractors to have a specialist insurance broker who understands:
- What boxes you need to tick to get you on site as quickly as possible
- Construction risks – both on and off site
- What your contract means for your insurance coverage
- The claims process and getting back to work in the event of a claim
- That having the right insurance can reduce risk and add value at tender time
Building Developers
Insurance
The title ‘Developer’ can encompasses a vast range of activities. Each project is different, each contract is different and the way in which each Developer works in bringing a project together is different. With large differences between each individual project, you should not risk using an insurance provider who only dabbles in this niche industry. Instead, you need a broker who adds value to your business by assisting you to fulfil your contractual requirements, gets you on site quicker and understands:
- The chain of responsibility under your specific contracts
- What insurance is required to meet your contractual obligations
- What needs to happen to get work happening on site as quickly as possible
- How to protect your interests if something goes wrong
- Adds value to your insurance program to give you the edge at tender time
Building Project
Managers Insurance
The line between project management and construction contracting have become more and more blurred by modern contracts. The title of Project Manager now covers a wide range of businesses – from traditional project managers, acting as agent on behalf of owners/developers, through to builders pricing projects instead of the traditional subcontracting model, and any number of variations in between. With vast differences between each individual project, you should not risk using an insurance provider who only dabbles in this niche industry. Instead, you need a broker who understands:
- The chain of responsibility under your specific contracts
- What insurance you need to meet contractual obligations
- What needs to happen to get work happening on site as quickly as possible
- How to protect your interests if something goes wrong
- Adds value to your insurance program to give you the edge at tender time
Why choose Be
Covered Insurance
Brokers?
- Competitive pricing
- Pro-active monitoring of your insurance program to ensure you remain protected
- Proudly part of Steadfast Group
- We read the fine print and find the best policy for you
- Access to our exclusive ‘bulk buying’ prices
- Broad range of options, many of which are not available elsewhere
Business Insurance Policies
Contract Works insurance
A must for all residential and commercial builders, particularly head contractors, Contract Works insurance protects your project from commencement through to practical completion against accidental loss or damage, including fire, store, theft and vandalism.
At Be Covered Insurance Brokers, we go through all the paperwork to structure your cover with detailed precision, ensuring that you won’t get caught out with fine print. No matter the size or complexity of your project, your policy will clearly reflect the builder’s responsibilities for the works, while meeting strict lender and developer requirements.
Who needs Contract Works insurance?
Residential builders, commercial builders and head contractors responsible for construction projects where works, materials or temporary structures are exposed to damage, theft or weather events.
Public Liability insurance (for construction companies / builders)
Public Liability insurance is a core requirement for operating a business. It is designed to cover legal costs and compensation for accidental injury to third parties or damage to third-party property arising from your work.
At Be Covered Insurance Brokers, we understand how the complexity of major projects can increase your risk of public liability. That’s why we emphasise the importance of adequate limits and correctly worded cover to ensure that your business is protected across multiple different sites and contracts.
Who needs Public Liability insurance?
Residential builders, commercial builders, head contractors and construction companies operating across housing, commercial and civil projects.
Building Indemnity insurance (also known as Builder's Warranty and Home Warranty)
In most Australian states, Building Indemnity insurance is a legal requirement for residential building work above the relevant threshold. It protects homeowners against financial loss arising from defective or incomplete work, typically where a builder becomes insolvent, dies or disappears.
At Be Covered Insurance Brokers, we work closely with residential builders to navigate Building Indemnity requirements, including how financial position, project size, and insurer approval limits can affect how much work a builder can undertake each year. By understanding your business and growth plans, we help structure approvals and insurance arrangements that support sustainable growth and ongoing access to residential contracts.
Who needs Building Indemnity/Home Warranty insurance?
Licensed residential builders, owner-builders and contractors undertaking residential construction or renovation work above statutory limits.
Professional Indemnity Design and Construct insurance for trades and builders
Professional Indemnity Design and Construct insurance covers builders for legal defence costs and any required compensation payouts. It applies to both residential and commercial builders, sub-contractor trades including those working under design and construct or construction-only contracts.
Builders can face claims from a client, principal or developer if an error, omission or failure during construction causes them financial loss. This can include misinterpreting plans, carrying out works incorrectly based on supplied drawings, failing to pass on changes, or coordination issues on site.
At Be Covered Insurance Brokers, we’ve seen builders who aren’t providing formal design services being exposed to this type of legal action, arising from miscommunication or even poor communication. We always recommend including this policy to avoid getting caught out when you least expect it.
Who needs Professional Indemnity Design and Construct insurance?
This applies to builders and trades in the industry who:
- Interpret or work from supplied plans or specifications
- Make construction decisions or variations on site (even slight)
- Coordinate or engage engineers, architects or consultants
- Can be held responsible for not identifying or passing on issues during construction, even when working from supplied plans
We Have the Building
Industry Covered
Specialist Construction & Building Insurance Broker
Common Questions Answered
Do I need Contract Works and Liability insurance or just Liability insurance?
This will depend on the works you are doing and the contracts you are signing. As a general rule if you are working direct for a client, there is no one else covering the material damage to your works such as fire, storm, theft – you would need to take out Material Damage cover under a Contract Works policy out to cover damage to what you are building.
Also, under contract with Tier One builders or head contractors, you may also be required to cover material damage to your works whilst under construction or you could be covered under a head contractor’s policy but they may have a very high excess which wouldn’t be viable for you financially in the event of a claim. Talk to your broker to discuss the projects you are doing and contracts you are signing to determine what level of cover you require. You may be able to reduce costs if only a small portion of your works require material damage cover and not all your works.
Can I pay my policy monthly?
Yes – Be Covered work with a number of premium funders who can assist in providing competitive options to pay your premium monthly to free up your cash flow so you can free up your money to invest back in your business rather than paying a lump sum for your premiums in one go.
Can I change my policy throughout the year?
Yes – Ideally you want to negotiate all your requirements and needs at the beginning of the policy so your broker can make sure the insurance package they are arranging for you is both the best cover and price but we understand, life happens and businesses change. If you need to make a change to your policy at any time, just contact your broker.
Am I covered for faulty workmanship?
Usually a Contract Works and Liability policy will only cover the resultant damage from the faulty product or workmanship, not the faulty work or component itself. It is important to note that all insurers deem the size of the faulty work or component differently therefore providing more or less cover in the event of a claim. Some insurers will define a much larger part of the project as faulty whereas another insurer might deem the faulty areas as the smallest component providing a larger payment in the event of a claim.