Chester & Cheshire

Construction Insurance: Do You Need It?

There are many different types of insurance out there which cover all different types of things. Most commonly, insurance is used on cars, buildings and for business. It is important that when you are starting up a business that you have insurance, which can save you in the event of an accident of one of your employees or for liability purposes.

However, when it comes to Construction Insurance North Wales, there are extra types of cover that you will need to take into consideration, that standard business insurance won’t cover. The construction industry is a very tricky and troublesome one, due to the risks that come with the job title. Construction workers are expected to work at height as well as use dangerous machinery and handle hazardous chemicals, so, in the event of an accident or death, you will need to ensure that your company is covered.

By having construction insurance in place, you will prevent your business from potential bankruptcy due to the financial implications after an accident. No matter how loyal an employee you should have the expectation that you could be sued at any time, account for medical costs and compensation to any employees or family members.

Not only is it employees that you will need to worry about, but you will also need to bear in mind, if you work with the public, what could affect them. Construction workers usually work very closely with the public and their property. If for any reason the construction work you are carrying our has any effect on surrounding properties you will be expected to rectify it, which would result in extra time and money spent to resolve the issue.

It is very important, regardless of which construction trade you are in that you do take out construction insurance to make sure that you are covered on all aspects of your business. Some insurance types that you should look at taking out with your insurance package are:

Public, Product and Employer Liability Insurance

What is liability insurance?

Liability insurance protects your business against any liabilities regarding injury to third parties or their property. It also covers you in the event of injury due to the products that you have supplied, manufacturer or import. Lastly, it protects against liability to employers for injury or illness.

Contractors All Risk Insurance

What is Contractors All Risk Insurance?

Contractors All Risk insurance protects against any physical damage to works and site materials used in the construction.

Professional Indemnity Insurance

What is Professional Indemnity Insurance?

Professional Indemnity Insurance protects against claims of loss or damage that may arise from professional negligence or bad advice.

Structural Warranty

What is Structural Warranty?

Structural Warranty provides building owners with ten years of protection against latent defects to a structure or building. These defects may occur during a build period but are not fully discovered until after building completion. This warranty is usually purchased by the builder or developer and will provide cover to the person who purchases the completed building.


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