Why do I need construction specific insurance?
Some general policies could contain inadequacies that would leave your construction business uninsured in the event of a major loss. Therefore, you may wish to protect your company with a construction industry specific policy.
I work in a very niche industry – will your construction insurance still cover me?
Our wide client base spans most trades within construction and we have long standing relationships with many major insurers which means we have a wider knowledge of the risks faced by our customers. We will work hard to find you a policy that suits your individual needs. For more information on your particular case give one of our specialist advisors a call.
Are labour-only subcontractors covered in the same way that direct PAYE staff are under the employer’s liability policy?
Yes, both types of employees are covered for the same risks, although it is very important you declare how your workforce are employed as it will affect how your risks are calculated.
Is the financial rating of an insurer an important factor?
It is an important factor and we only use insurers with A-ratings. It measures an insurer’s financial situation and allows you to predict their ability to meet on-going policy obligations. Also, there are a number of main contractors that will not subcontract works to any companies not insured with a minimum of an A- financial rating (as determined by companies such as Standard & Poor’s, A M Best, Moody’s or Fitch Ratings). By not having a financially secure insurance policy in place you could potentially be restricting your business and the contracts you take on.
Can I pay for my construction insurance policy in instalments?
To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.