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Contractor All Risk
Keep building with our insurance professionals
Protect your work
from unexpected losses
This comprehensive insurance solution is designed specifically for commercial contractors, safeguarding your projects against a wide range of potential risks throughout the construction lifecycle. From the initial stages of ground-breaking to the final handover, Commercial Contractor All Risk Insurance provides the financial support you need to navigate unforeseen events and ensure your project's success.
What Does the Product Cover?
Property Damage
cover extends to accidental physical loss or damage to the project itself, including completed and in-progress structures, materials, and temporary works. This includes events like fire, theft, vandalism, lightning strikes, and earthquakes.
Third-Party Liability
The policy protects you against financial losses arising from third-party claims for bodily injury or property damage caused by your activities or negligence during the project. This covers legal costs and settlements.
Loss of or Damage to Contractors' Plant and Equipment
The policy safeguards your own tools, equipment, and machinery against unforeseen events like fire, theft, and accidental damage, both on-site and in transit.
Additional Covers
Depending on your specific needs, the policy can be customized to include additional cover for professional fees, delay in start-up, and latent defects.
Why you need a
MBFS Commercial Insurance Broker
01
Deep understanding of your business
Our brokers dive deep into your operations, identifying potential risks and tailor cover to your specific needs. They act as an extension of your team, not just a salesperson. They identify gaps in your existing cover and propose solutions that truly address your business's unique needs. You don't simply get a generic policy. MBFS is not tied to any single insurance company, giving our brokers access to a wider range of policies and competitive rates.
02
Cost-Effectiveness and Negotiation
With access to multiple insurers, our brokers can negotiate better premiums and find cost-effective solutions that match your budget. Our brokers understand insurance jargon and policy intricacies, ensuring you get the most out of your cover without hidden costs or exclusions. They proactively review your needs and market conditions before renewals, negotiating better terms or finding more competitive options when necessary.
03
Streamlined Administration and Support
Our brokers handle the heavy lifting, from initial application to policy management and renewals, saving you valuable time and resources. When a claim arises, they become your advocate, guiding you through the process, filing paperwork, and negotiating with the insurance company to ensure you get fair compensation. They stay updated on industry trends and risks, offering proactive advice to mitigate future challenges and keep your cover relevant.
04
Long-Term Relationship and Trust
You develop a trusting relationship with your broker, who becomes a dedicated advisor understanding your business needs and evolving alongside it. Having a dedicated professional representing your interests provides peace of mind, knowing you have an expert looking out for your business's well-being. They proactively communicate about upcoming renewals, potential risk changes, and market updates, keeping you informed and involved in your insurance decisions.
Benefits of
Commercial Contractor All Risk Insurance
Financial Security
In the event of a covered loss or damage, the insurance policy provides financial compensation, minimizing the financial impact on your business and ensuring project continuation. This allows you to focus on rebuilding or repairs without facing significant financial burdens.
Peace of Mind
Knowing your project is protected from unforeseen circumstances fosters peace of mind and allows you to concentrate on project completion with confidence. You can navigate unforeseen challenges without the worry of devastating financial losses.
Enhanced Client Confidence
Having Commercial Contractor All Risk Insurance demonstrates to clients your commitment to risk management and project completion. This instills trust and confidence in your ability to deliver a successful project, potentially boosting your reputation and attracting future business opportunities.
Contractual Requirements
Many construction contracts mandate contractors to hold Commercial Contractor All Risk Insurance, ensuring all parties involved are protected financially in case of unexpected events.
Frequently Asked Questions
What type of construction projects are covered?
Commercial Contractor All Risk Insurance can be tailored to a wide range of construction projects, including residential and commercial buildings, infrastructure projects, renovations, and more.
Is there a limit to the cover amount?
Yes, there are policy limits for different types of cover. It's crucial to discuss your specific project needs with an insurance broker to determine the appropriate cover amount.
Can I customize the policy to my specific needs?
Absolutely! The policy can be customized with various add-on covers to suit your project's unique requirements. Consult with an insurance broker to explore available options and create a policy that fits your specific needs.
How much does the insurance cost?
The premium cost depends on various factors, including the project size, location, complexity, and chosen cover levels. Contact an insurance broker to receive a personalized quote based on your specific project details.
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