Contract Works/Works In Progress Insurance
Works in progress cover will typically cover properties which are undergoing repair, renovation or major rebuilding work. A policy can cover just the structure itself, or it can be extended to include cover for the works that are being undertaken.
Cover for the structure of your building may be restricted whilst the work is being carried out to what is called FLEA perils only (Fire, Lightning, Explosion and Aircraft impact). This is a very limited basis of cover and can normally be prepared to be extended for an additional premium.
If you want to cover the structure of the building and/or the contract works please click here to download a proposal form.
Cover for the works being undertaken may be taken out by either the property owner or the contractor under a contractors all risks policy. Policies may be in joint names or in the name of either the property owner or the contractor. Note that not all building contractors carry Contractors All Risks cover which is not an automatic extension under a public liability cover.
If the contract works are not insured then the property owner is exposed to the possibility of a major loss in the event that the partially completed works are damaged by an insured peril (fire, theft flood etc) during the build. If you are a property owner and are looking just to cover the works themselves, please click here for a proposal form.
If you a contractor and are looking for contractors all risks cover, please click here for a proposal form.