It is important that, as a contractor, you look at this type of coverage. The Contract Works Plan protects you from unforeseen losses or theft and it will give your approach to a job a more professional intention. This type of plan covers:
- Loss of or damage to the contract works and temporary works in performance of the contract.
- Materials on the site
- Loss of, or damage to, the construction plant, tools, equipment, temporary buildings and other things brought onto the site for the purpose of the job under contract and which may not be otherwise insured.
- Costs and expenses necessarily incurred in removing debris of the portion or portions of the property insured.
- Liability to the public – in respect of accidents arising in connection with the contract, resulting in death, of or bodily injury to, or disease sustained by any person or loss of or damage to property.
Contract Period: One year renewable. At renewal either the insurance company or the insured can decide not to renew the contract for any reason ranging from claims experience to premium level.
At Field Insurance Brokers we are here to help you understand your policy and if you are not clear on any area please do not hesitate to ask your Account Representative.