Contractors All Risks

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What Is Contractors All Risks Cover And Do I Need It?

Contractors All Risks (also known as Contracts Works or CWI), is a type of insurance designed for builders and a number of other trades working at a contract site.

It does not only cover liability, but also covers tools and plant as well.  It can be bought as a stand -alone policy or as an extension to an existing liability policy.

Contractors All Risks CAN cover:

So – a full contractors all risks policy is pretty much all the insurance a contractors needs rolled into one package!

One important point to note is the main part of a contractors all risks policy is the property being worked on. (eg building a new house).  However, cover for a pre-existing property is excluded, and must continue to be insured under its own insurance policy. (eg a house with an extension being built) unless caused by the actions of the builder.

Why is this?  If the contractor causes a fire whilst building the extension and the whole property is damaged, the contractors all risks policy will cover the damage.  However, if there is an incident caused by the homeowner – ie chip pan fire, this must be covered under the existing property insurance.

The most important thing to think about when deciding to take out a contractors all risks policy, is can you afford not to?  If you have an incident and the works need to be started again, or the plant on the job is stolen, could you afford to start again, or replace the plant out of your own pocket?  Don’t forget you will only get paid once no matter how many times you have to do the same job!

There may be specific terms and conditions placed on your policy, and you must ensure that you are fully aware of them and adhere to them.

Please give us a call, or request a call back, and we can discuss your requirements, and as always:

If we can’t give you the best price, we will always give the best advice.

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