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When someone is enquiring about construction insurance, they may use a variety of different insurance policy names, such as Contractors All Risk Insurance, Contract Works Insurance, Contractors Combined Insurance, Tradesmen Insurance, Tradespeople Insurance, Construction Insurance, Construction Trade Cover, Builders Risk Insurance or even just Builders Insurance.  

There are, in fact, many different insurance policies that protect the construction sector, which is why, as a professional insurance broker, we’ll take the time to find out more about a business to enable us to recommend the best policy for each business’s specific needs.  

For some companies, Contractors All Risk Insurance may be what you need, as it’s a specialised policy designed to safeguard contractors, construction firms, builders, scaffolders, cladding contractors, groundworkers, bricklayers, plumbers, engineers, electricians and those in similar professions against a range of risks associated with building projects.  

It can also be a useful insurance for property developers, as it provides comprehensive coverage for property damage during the period that the work is being undertaken, ensuring peace of mind for those involved.  

What Is Contractors All Risk Insurance? 

Contractors All Risk insurance covers your materials on site against physical loss or damage, whether that’s your tools, any hired-in plant equipment or the contract works itself.  

Does my general insurance policy cover building work? 

Contractors All Risk Insurance is specifically tailored to the needs of construction projects, so offers broader protection than a general policy, and can also be customised to suit individual company requirements.  

How much does Contractors All Risk Insurance cost?  

The main factors that can affect the cost of Contractors All Risk Insurance include the value of work undertaken, the amount of risk involved in the project, the type and location of project, the length of the project, the contractor’s claims history and the level of site security.  

If you’re unsure what might be the best policy to cover your business, then just give the friendly team at Prizm Solutions a call. As an insurance broker, the experienced team at Prizm can evaluate the options for you, and propose the best policy for your needs no matter what size of business you run.  Check out our website for details of other policies we offer, including Public Liability Insurance and many more.