CONSTRUCTION COMPANY INSURANCE IN AUSTRALIA

As insurance brokers specialising in construction, we help our clients understand the various types of coverage that construction companies typically need in Australia.

Public liability insurance is often one of the most important types we arrange for construction clients, as it may provide protection against third-party claims that could arise from construction activities.

Contract works insurance is another type of coverage we frequently arrange for construction projects. This coverage may help protect construction projects during the building phase against risks like theft, vandalism, fire, or storm damage. Many of our clients find this essential for larger commercial projects.

Professional indemnity insurance is something we often recommend for construction companies that provide design services, project management, or professional advice. We work with several insurers who offer this type of coverage specifically tailored for construction professionals.

Workers compensation insurance is mandatory in Australia for construction companies with employees. As brokers, we help our clients find competitive workers compensation coverage that meets their state requirements while providing good value.

We work with multiple insurance providers to find the right combination of coverage for each construction client’s specific needs and budget.

As independent insurance brokers, we don’t work for any single insurance company – we work for you. Our role is to understand your construction business, assess your risks, and then shop the market across multiple insurers to find coverage that fits your needs and budget.

We start by conducting a thorough assessment of your construction operations, including the types of projects you work on, your equipment and tools, your workforce, and your specific risk exposures. Based on this assessment, we identify the types and amounts of coverage you need.

We then approach multiple insurance providers on your behalf to obtain competitive quotes. Our relationships with various insurers allow us to access coverage options that might not be available if you approached insurers directly.

Once we’ve gathered quotes, we’ll explain the differences between policies, help you understand what’s covered and what’s not, and recommend the option that provides the best value for your specific situation. We handle all the paperwork and can arrange payment plans that suit your cash flow.

While public liability insurance isn’t legally required by Australian government regulations, we find that it’s contractually required for most construction projects our clients work on. As brokers, we regularly see contracts that require construction companies to carry minimum levels of public liability coverage before they can commence work.

The typical minimum coverage amounts we see required range from $5 million to $20 million, depending on the project size and client requirements. Government and large commercial projects often require higher coverage limits.

We help our construction clients understand their contractual requirements and find public liability coverage that meets these requirements at competitive rates. Our experience with various insurers allows us to find coverage that provides the protection needed while fitting within budget constraints.

As insurance brokers, we provide several advantages over buying construction insurance directly from an insurer. First, we have access to multiple insurance companies, which means we can compare coverage options and pricing to find the best fit for your construction business.

We understand the construction industry and can identify coverage gaps that you might not be aware of. Our experience with construction claims helps us recommend appropriate coverage limits and policy features that provide real protection when you need it.

When claims arise, we advocate for our clients with the insurance company. Rather than dealing with the insurer alone, you have an experienced broker fighting for your interests and helping ensure fair treatment throughout the claims process.

We also provide ongoing service, including policy reviews, renewal management, and assistance with certificates of currency when clients need them for projects. This ongoing relationship means you have a trusted advisor who understands your business and can adapt your coverage as your needs change.

Insurance costs vary significantly based on many factors, and as brokers, we help our clients understand what drives pricing and find competitive rates across multiple insurers.

As brokers, we help our clients manage costs by identifying risk management opportunities that can reduce premiums, finding insurers who specialise in their type of construction work, and structuring coverage to eliminate unnecessary costs while maintaining adequate protection.

We also help clients understand payment options, including monthly payment plans that can help with cash flow management. Our relationships with multiple insurers mean we can often find more competitive pricing than clients might obtain on their own.

The insurance needs for residential and commercial construction can differ significantly, and as brokers, we help our clients understand these differences and find appropriate coverage for their specific work types.

Commercial construction projects typically require higher coverage limits due to the larger scale and value involved. We often arrange public liability coverage of $10-20 million for commercial projects, while residential projects might require $5-10 million.

Professional indemnity insurance is more commonly required for commercial construction projects, particularly design and construct contracts. We work with insurers who understand these requirements and can provide appropriate coverage.

Contract works insurance limits need to be higher for commercial projects due to increased material and equipment values. We help clients understand the coverage limits needed for their specific projects and can arrange either single project or annual coverage depending on their needs.

For residential construction, there may be specific requirements like home warranty insurance that we help clients understand and arrange. The licensing and insurance requirements can vary by state, and our knowledge of these requirements helps ensure our clients maintain compliance.

When you work with us as your insurance broker, the claims process becomes much more manageable. If an incident occurs, you should contact us immediately – we’re available to guide you through the initial steps and ensure you meet all notification requirements.

We help you document the incident properly, including gathering necessary evidence, photographs, and witness statements. Our experience with construction claims means we know what information insurers need and can help ensure nothing important is overlooked.

We act as your advocate with the insurance company throughout the claims process. This means we communicate with the insurer on your behalf, help explain the circumstances of the claim, and work to ensure you receive fair treatment.

If disputes arise during the claims process, we use our relationship with the insurer and our industry knowledge to help resolve issues. Our goal is to ensure you receive the coverage you’ve paid for when you need it most.

We also help coordinate any additional services you might need, such as legal representation if the claim involves significant liability issues, or assistance with temporary repairs and business continuity.