It is a sad and depressing statistic that as many as 35 workers might meet with fatal accidents on construction sites during the course of this year. A further 65,000 might be injured in non-fatal accidents.
The construction industry, it would seem, remains one of the more dangerous environments in which to work. Clearly, this has serious implications both for you as the owner of any type of construction business and for the workers you might employ.
If you are responsible for the building site on which works are being undertaken, your crew, your clients, surveyors, inspectors, suppliers, other visitors to the site, neighbours, and even general members of the public may be at risk. Any one of these may suffer an injury or have their property damaged as a result of your construction works.
You may be held liable for any such injury or loss and ordered to pay a substantial sum in compensation as a result.
So that you may be protected against the financial impact of claims such as this, and to protect the tools, plant and equipment that you are likely to be using onsite, you might want to consult us here at constructaquote.com on the all-important matter of construction insurance.
- We are construction insurance brokers who specialise in this particular niche of the wider insurance market
- More than 26,000 different trades people recognise our expertise and experience by trusting us to arrange their insurance
- We are able to provide insurance cover for the tools and materials essential to your business
- We have been trading for more than 25 years
What are the risks typically covered by construction insurance?
Every construction business is different, of course, so no one size insurance policy fits all. Amongst the wide range of risks which you might want to consider protecting, however, are the following.
Public liability insurance is likely to be at the heart of your cover
Public liability insurance tends to be a catch-all defence against claims arising from a whole range of different individuals who may suffer an injury or have their property damaged as a result of actions – or actions that have not been taken – on your construction site.
It is a catch-all line of defence, since claims may be made by practically anyone who is injured or has their property damaged.
Although you are under no obligation to arrange cover, claims from such sources may be substantial and a prudent course is likely to lie in your having public liability insurance up to the typical minimum of £1 million.
Professional liability insurance may be necessary to preserve your standing and reputation within the construction industry
Your role within the construction industry may be based upon the professional skill, talents and qualifications which you bring to bear in any commission.
If errors or mistakes on your part threaten to undermine your professional decisions and activity, you may be sued for professional negligence.
Professional liability insurance provides a further line of defence against such claims and may be required by some potential clients as a condition of your winning any contract for a construction project.
Employers’ liability insurance is not an optional extra
Since you are likely to be employing other people to work on your construction site, employers’ liability is not an optional extra, but a safeguard required by law.
If any one of your employees suffers an injury or contracts an illness or other medical condition as a result of their work for you, they may claim substantial damages. The law exists to ensure that sufficient employers’ liability insurance is in place to enable you to meet any claim to which they may be entitled.
The law currently requires that you hold a minimum of £5 million of cover – and you may be fined up to £2,500 for every day that it is not in place.
Tools, plant and equipment may be protected with contractors’ all risks insurance
This form of cover typically provides the protection you need for all manner of expensive tools, plant and equipment likely to be in use on your construction site.
Whether these items are owned by you or hired in for specific jobs, contractors’ all risks insurance may provide the cover you need.
Protecting your vehicles and goods in transit
It is a rare construction site that does not have a constant stream of vehicles coming to and fro, delivering plant, equipment and materials needed for the works in progress.
If the vehicles are owned by you, of course, it is your responsibility to ensure that suitable motor insurance is arranged for each vehicle – a minimum level of at least third party cover is required by law.
Whilst you are moving tools, plant and equipment from one site to another, however, you might also want to keep them protected against loss, damage and possible delays in delivering the items you need with an appropriate level of goods in transit insurance.