Contract Works Insurance
10 Docs
What is Contract Works Insurance?
Last Updated: September 16, 2026Contract Works Insurance can protect construction projects against physical loss or damage during the works, with single-project or annual cover available subject to policy terms and contract requirements.
What does Contract Works Insurance cover?
Last Updated: September 17, 2026Contract Works Insurance can cover construction works, materials and selected additional exposures, with off-site, transit, existing structures, tools and plant subject to the policy arrangement.
Do I need Contract Works Insurance if I already have Public Liability Insurance?
Last Updated: September 16, 2026Contract Works Insurance and Public Liability Insurance cover different risks. Having Public Liability does not mean physical damage to the construction works themselves is insured.
Is Contract Works Insurance a legal requirement?
Last Updated: September 17, 2026Contract Works Insurance is not governed by one Australia-wide rule. Requirements can arise from contracts, principals, lenders, project arrangements and jurisdiction-specific obligations.
What is the difference between Single Project and Annual Contract Works Insurance?
Last Updated: September 17, 2026Contract Works Insurance can be arranged for a single project or across multiple eligible projects under an annual policy, with different declaration, limit and referral requirements.
Does Contract Works Insurance cover work done by subcontractors?
Last Updated: September 17, 2026Subcontracted work can form part of insured construction works, but cover depends on the project value, policy structure, insured parties, contract terms and defective-work provisions.
What if the project value changes during construction?
Last Updated: September 17, 2026If a construction project's value or scope changes materially, the Contract Works policy should be reviewed for revised limits, escalation provisions and insurer approval requirements.
Does Contract Works Insurance cover tools or equipment?
Last Updated: September 17, 2026Contract Works Insurance does not automatically cover tools, plant or equipment. These assets may require additional sections, General Property, Plant and Equipment or Commercial Motor cover.
Does Contract Works Insurance cover theft and vandalism?
Last Updated: September 17, 2026Contract Works Insurance can cover theft and malicious damage affecting insured construction works and materials, subject to policy terms, security conditions and the property insured.
Can I get Contract Works Insurance as an Owner Builder?
Last Updated: September 17, 2026Contract Works Insurance may be available for owner-builder projects, subject to insurer appetite, project details, jurisdictional requirements and the cover sections selected.