What is contract works insurance?
While not a standard inclusion in our business insurance policies, contract works insurance could be added to your policy to help you to avoid any potential gaps in your cover. Created for tradespeople, contract works insurance provides additional cover for electrical work which is underway, for example at a client's home who is having an extension. More specifically, it provides protection should this incomplete work be damaged by an insured event. An insured event could be adverse weather like storm Dennis, theft or vandalism.
Contract works insurance, sometimes referred to as contractors all-risks cover can be added to your business insurance policy to give you that extra peace of mind. It may be necessary if for example, you undertake work on building sites which could be open to the elements, or at a client's property that is being extended. This cover is sometimes a contractual requirement from some clients, as they may hold you responsible for work in progress.
With the correct cover in place, you could make a claim to cover the cost of fixing or redoing any damaged work which you are legally responsible for. Cover may also include any labour, materials or equipment required to get the work back to the position it was in prior to the event. Damage caused to equipment, whether that is equipment that you own yourself or that you have hired, may also be covered.
At NAPIT Insurance, we have worked closely with NAPIT to ensure our policies meet the requirements of your membership and cover the specific set of risks that you face as an electrical contractor. In addition to contracts work insurance, we can arrange a number of optional extras to your business insurance, including personal accident cover and employers liability.
For a review of your existing insurance or for a quote, contact the NAPIT Insurance team on 03455 646 173, or complete an online enquiry form and we’ll get back to you.