At Goldcrest we have specialised in this sector for over 20 years now and have a wealth of experience when it comes to insurance for building contractors.
We deal from contractors with a turnover of £100k up to the larger contractors with a £20 million plus turnover.
Lets start with what we do for the large contractors. What we will do is drill down into your business and get a split percentage of all activity that is taking place and who will be carrying out the works. As a large contractor works will usually include all the high risk activity which needs to be noted. ie: Demolition/ Ground works/ Asbestos Removal/ Roofing/ Scaffolding/ Piling/ Welding etc. We will get your split of activity on who does what in relation to bona-fides/labour only and manual staff, obtain the turnover, contract period and length of contract, hired in plant charges and own plant etc and then work out a competitive figure from there.
With the smaller contractor. We look at your business and find out exactly what works you are carrying out. Usually for a £100k turnover it is four or five loft conversions a year and a few extensions.
Advice from Goldcrest
What we will always advise the builder is that to safeguard his business and the clients property they should have a contractors all risk policy when carrying out these works. Why the builder always asks ? Well if you under take a contract to extend a clients house which isn’t part of the existing dwelling then if anything happens ie damage /fire/flood, then you or the client will note covered. Public liability insurance in this aspect just isn’t good enough. Public Liability covers you only for damage to third party property and will not pick up damage to works being done on ie a loft of extension
Therefore to produce a bullet proof pitch to a client and show them how much not only their property means to you but also how much insuring your business properly means to you, a contractors all risk policy is crucial.
So if you are looking for a contractors all risk insurance policy that will suit all your needs and is bespoke to your company please give us a call and speak to one of our specialist on 02084407400