This is typically taken out jointly by the contractor and the employer at the same time, with multiple parties included in the same policy. They each hold the right to file a claim against the insurer. Although all parties also have the responsibility of notifying the insurer of any grievances or damages. This would relate to anything in respect of a claim. This is always the case even though there may be no intention to make one at the time.

Contractors All Risk insurance, sometimes referred to as contractor works insurance, construction all risk insurance or a building risk insurance policy covers for risk on work that is underway on a building or construction site. For instance, if work that is in progress is damaged as a result of fire, flood, storm, vandalism or theft. This can help to pay to repair or reinstate the works. If there are unforeseen events, the Contractors All Risk insurance will cover the cost of work being redone. These policies cover a wide range of aspects, from plant hire costs to temporary works. Contractors All Risk policies can save money in the long run, should the above ever occur.

Absolutely, construction projects can be complicated undertakings. If problems were to arise before the project is completed things can become more difficult to resolve. Imagine if you were near the completion of a project and the building was to suffer irrevocable damage and you had to begin all over again. This cost could be huge and prohibitive. You can protect yourself against these events by purchasing Contractors All Risk insurance to pay for the cost of the work to be reinstated.