The Construction industry is full of ups and downs. Dealing with councils, coordinating different contractors and appeasing clients can fill up the daily plate so quickly it can be difficult to find the time to cope with additional demands.Construction Business Insurance is often the furthest thing from the minds of operators. It can become nothing more than a requirement for a lot of businesses. But make no mistake, it’s constantly working in the background for you while you operate.
So when it comes to Construction Business Insurance, it’s important to do it right.
Understand your risks, identify exposures and set up appropriate covers to protect yourself in the event of a claim.
Engaging a professional, qualified and experienced insurance broker – like imar – is a step in the right direction to reducing the Construction Business Insurance burden.
The Foundations
So what are some of the important covers to consider with Construction Business Insurance?
Public and Products Liability Insurance should be one of the first considerations for any business. Depending on your business setup and your project, additional covers such as Contract Works Business Insurance could also be on your list for consideration.
The Framework
Next up on the Construction Business Insurance list is protection for yourself and your workers.
Policies such as Income Protection, Injury and Illness, and Worker’s Compensation Insurance are key considerations for any Construction Business.
The levels of cover under these policies differ, so it’s important to consult your broker and financial adviser to assess your requirements.
Fixtures and Fittings
Additional levels of protection with covers such as Tools of Trade, General Property, Business Interruption, Management Liability and Professional Indemnity will also be on your list of considerations.
Discuss these with your broker to assess your individual and business requirements.
Visit www.imar.com.au today for a confidential no obligation discussion about your Construction Business Insurance with one of our experienced Client Managers.
You should consider if the insurance is suitable for you and read the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and policy wording before making a decision to acquire insurance. Please ask us for more details before we provide you with our services. Our FSG is available on our website.