Licensed Builder Project Specific Construction

Licensed Builder Project Specific Construction Insurance

Key Features

Online multiple quote & bind facility.

  • For residential and commercial projects.
  • Construction periods up to 24 months. (extensions on request)
  • Maintenance period as per contract up to 12 months.
  • Standard excess $1,000 for minor and major perils and $1,000 for burglary.
  • Discounts available for higher excess options.
  • Quality security with underwriters actually heavily experienced in the class.
  • Automatic minor plant and equipment cover.
  • Major plant, equipment and tools coverage available.
  • Automatic allowance for excavations up to 5 metres.
  • Cover available for existing structures.
  • Public liability for $5m, $10m and $20m indemnity limits.
  • Vibration, weakening or removal of support to full limit of Indemity
  • Automatic care, custody and control sub limit of $250,000.
  • Defense of claims in addition to limit of Indemity
  • Broad standard cover featuring corporate style benefits including, dewatering, plot ratio indemnity, floor space ratio and undamaged foundations.
  • Along with a range of endorsements to ensure all of your builder’s insurance requirements can be met.

Standard sub limits and covers.

  • Professional fees 10% of Contract Value.
  • Expediting expenses 10% of Contract Value.
  • Government charges $10,000.
  • Goods in transit $100,000.
  • Mitigating expenses 10% of Contract Value.
  • Named insured employees effects $2,500 limit $500 per employee.
  • Removal of debris 10% of Contract Value.
  • Temporary protection 5% of Contract Value.
  • Minor plant and equipment and tools up to $20,000 - (higher limits available on application).
  • Major plant and equipment including hoists cranes and mobile plant - On application.
  • Restoration of records 5% of Contract Value.
  • Increased cost of working 10% of Contract Value.
  • Goods in storage $100,000.
  • 28 days testing and commissioning.

Automatic Extensions

  • Escalation allowance.
  • Dewatering.
  • Plot ratio indemnity.
  • Undamaged foundations.

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