Construction and Engineering insurance - PEACE OF MIND IN A HIGH-RISK INDUSTRY

The construction of buildings or civil works always comes with a risk of loss or damage. Contractors all risks insurance, also called CAR, provides cover for damage to property and claims for third-party injury or damage.

WHAT IS THE PURPOSE OF CONTRACTORS ALL RISKS INSURANCE?
The goal of CAR insurance is to protect the financial interests of everyone involved in a building project, no matter what type of damage occurs or who causes it. The cover is usually taken by both the contractor and the employer. Sometimes they add other named interested parties to the policy, for example the finance companies backing a construction project. Everyone noted on the policy has the right make a claim, and they are all responsible for telling the insurance company about injuries and damage that might result in a claim.

Key features
What risks does a CAR insurance policy protect against? It covers you and other relevant parties against all the risks normally associated with construction work: 

• Fire damage
• Flood damage
• Wind damage
• Earthquake
• Water damage
• Mould
• Poor construction
• Negligence
• Third party injury or damage
• Damage to permanent and temporary works
• Free issue materials on site and in transit
• Protection for both owned and hired plant and machinery
• Up to 12 months of cover after the contractual obligations are over, the 'maintenance or defects' liability period
• Unforeseen loss or damage to building works
• Machinery movement
• Public liability
• Tools
• Business interruption
• Equipment erection
• An optional professional fees extension
• An optional debris removal extension

Essential risk management and claims support
Feel free to contact us if you'd like to discuss your CAR needs with a team of experienced experts or buy a policy that's perfectly tailored to your needs. We will be pleased to hear from you, and you will enjoy excellent value for money as well as the best quality protection.  We also help with risk management and will support you throughout the claims process with professional advice and guidance.

Plant can be extremely expensive, especially specialised plant designed for specific construction jobs.  Sometimes you own it, other times you hire it, but however you secure the plant for your use, if the unexpected happens it can make an enormous hole in your company's finances. That's why consequential loss contractors plant and machinery insurance is such a good idea.

What is the purpose of Consequential Loss Contractors Plant and Machinery insurance?
This type of policy covers the sudden and unexpected physical loss of - or damage to - the insured pieces of plant, when that damage means you need to repair or replace the machine. The policy excludes internal breakdowns and applies at work, at rest, and during maintenance. It covers all the construction sites you work on during the period of the insurance rather than being site-specific.

Key features
This is what a policy covers, protecting your financial interests and delivering peace of mind to busy contractors who own their own plant as well as to those who hire expensive machinery.

• Protects your own machinery and any hired items
• Covers loss or damage to owned contractors plant
• Includes legal liability for loss or damage to hired in contractors plant
• Covers continuing hiring charges
• Covers owned or hired in plant that is then hired out to others
• Covers damage arising from an impact
• Pays recovery costs for immobilised plant and equipment
• Includes cover for theft from unattended vehicles

Professional help with risk management and claims
Feel free to contact us if you'd like to discuss your construction insurance requirements with one of our expert team. We'll make sure you choose a policy that's properly tailored to your needs. We will also support you with risk management and help with making valid claims.

When you are up against deadlines, a machinery breakdown on your site can cost a lot of money in delays and reparations, especially when you're under contract to complete the works by a specific date.  The costs of the delays can be ruinous, which is why so many contractors come to us for their machinery breakdown insurance, a relatively simple way to protect your corporate finances when the worst happens.

What is the purpose of Machinery Breakdown insurance?
MBD provides financial compensation when plant, machinery and mechanical equipment breaks down at work, when at rest or during maintenance operations. It covers the unforeseen and sudden physical loss of - or damage to - the machines named on the policy, funding their repair or replacement so your business is not left out of pocket. It means construction projects can continue in a timely manner, and can be taken out by the machinery's owner, lessor, lessee, the lender funding the machinery or jointly when more than one party has a financial interest.

Key features
A machinery breakdown policy covers the unforeseen and sudden accidental physical damage to insured machinery, plant and equipment while:

• Working
• At rest
• Being dismantled, removed or re-erected at the same site

It also covers loss or damage due to:

• Faulty operation, adjustment and casting
• Vibration
• The entry of foreign objects
• The loosening of parts
• Self-heating
• Centrifugal force

Expert help with risk management and claim services
Please contact us to discuss your machinery breakdown cover. We do much more than sell policies – we also provide excellent advice about mitigating common risks and will help you navigate the claims process to get valid claims paid quickly and smoothly.  

In some cases, most of a business' financial worth is tied up in its stock. If that stock is compromised and deteriorates, for example refrigerated foodstuffs, you can lose an enormous amount of money as well as damaging your brand's reputation and potentially losing customers. That's what stock deterioration insurance protects your finances against, returning you to the position you were in before the loss occurred.

What is the purpose of Stock Deterioration insurance?
Deterioration of Stock insurance protects your bank balance against the cost of unforeseen damage to refrigerated goods that are both owned by and in the care of your business, as a result of a rise or fall in the temperature of your refrigeration equipment. It could be down to a power supply failure, impact damage, or simple mechanical or electronic breakdown. 

Key features
This valuable policy protects your financial interests in three key ways:

• Cover for damage to goods not held in the refrigerator, that would have been kept cold if the  accident hadn't happened
• Cover for the action of the refrigerant or any stray refrigerant fumes that have leached out of the system and escaped
• Cover for the accidental failure of public electricity supplies

Great insurance products plus support with risk management and claims
It makes a lot of sense to avoid risks as best you can in the first place. As well as selling exceptionally good quality, good value cover we also help our clients minimise the risks they face and support them all the way with making valid claims. Contact us for details or to ask for a fast, efficient quote.

All it takes is a simple power cut and your electronic equipment is compromised, or simply can't work. That’s why insurance policies designed to safeguard electronic goods – things like like computers, servers, photocopiers, scanners, printers, fax machines, modems, switchboards – are so popular. The policy protects your finances against the loss of, or damage to, electronic equipment at your premises, and also when it is temporarily moved to another location.

What is the purpose of Electronic Equipment insurance?
Does your organisation rely extensively on electronic equipment? Plenty do these days, and it presents a serious risk if things go wrong. This high level of reliance drives a need to protect businesses from risks like material damage and the subsequent financial losses. We've sourced great quality, good value Electronic Equipment insurance that's specifically created to meet the needs for both the owners and hirers of equipment.

Key features
Protect your financial interests with this vital policy, which:

• Covers a variety of equipment including audio visual and medical
• Includes both owned and hired out equipment
• Covers worldwide data media loss and reinstatement
• Protects your finances against theft from buildings and vehicles
• Offers optional extra cover for additional expenditure or financial loss

Quality products plus vital ongoing support
We won't just sell you a policy then let you get on with it. We also provide valuable help and advice about minimising the risks your business faces, and we'll stand by your side if you have to make a claim, ensuring everything goes smoothly and quickly. Contact us to find out more details or get a free quote.