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This type of insurance is designed to cover the risks associated with a construction site.
BBA can arrange cover for Residential, Commercial, Civil or Mechanical projects.
This cover generally includes the following:
- Material Damage (Loss or damage to the works including fire, theft, malicious damage, storm etc.)
- Public Liability (Bodily injury and/or property damage to third parties. e.g. the building next door suffers damage as a result of the earth works).
Standard Extensions Include:
- Good In Transit
- Offsite Storage
- Mitigation Costs
- Variations and Escalations
- Professional Fees
- Removal of Debris
- Expediting Expenses
- Principal Supplies Materials
- Construction Plant and Equipment
Extensions Can Be Negotiated To Include The Following:
- Liquidated Damages
- Contractors tools plant and Equipment
- Existing Structures
Commercial Structural Defects Insurance
BBA Insurance Brokers are able to arrange Structural Defects Insurance for your Commercial Projects.
This policy is a requirement for Victorian Builders under the Building Act 1993 which recommends a limit of twice the estimated turnover or $1,000,000, whichever is greater to a maximum of $10,000,000, plus one automatic reinstatement.
Builders Warranty Insurance
At BBA Insurance Brokers, we are able to assist Professional Builders to obtain Builders Warranty Insurance.
Builders Warranty, in Victoria, is required by law for any residential work which exceeds $12,000. As per Part 2 of the Building Act 1993, a builder must obtain the required Builders Warranty Insurance prior to entering into a contract and before any money under the contract is paid. The builder must also supply the building owner with a copy of this certificate within 7 days after it is issued.
Builders Warranty provides cover to the building owner for non-completion of work or breach of statutory warranty due to death, disappearance or insolvency of the builder.
In addition to the above we are also able to arrange Owner Builders Warranty Insurance
BBA Insurance Brokers are well versed in the provision of all associated Construction insurance and are here to assist you in arranging the right policy to suit your needs.
Please feel free to contact us at BBA to guide you through the process of obtaining the right Construction Insurance policy for you.