Contractors All Risks Insurance
We provide Contractors All Risks Insurance for small and large contractors including Main Contractors & PSCS, Roofing & Cladding, Mechanical, Electrical, Joinery and Fit-out contractors.
The cover is available for almost any construction trade. Our current clients include sole traders and large firms with hundreds of employees.
We get the best quotes because we work with more than 40 specialist insurers across Ireland, UK & Europe. We also have a team of qualified and experienced professionals as well as dedicated claims handlers.
What is Contractors All Risks Insurance?
A Contractors All Risks policy generally contains 3 cover sections:
Damage to the Contract Works
This section covers claims arising from damage to the contract works during construction. It can also extend to cover materials being brought to the site or temporarily stored offsite. The cover specifically excludes damage to pre-existing structures.
ADFT (Accidental Damage, Fire & Theft) Insurance for owned plant and temporary buildings
This section covers damage to or loss of owned plant, machinery, tools and equipment as well as temporary buildings on site. Most policies can extend to cover transit and offsite risks also.
Almost every contractor that hires in plant does so subject to terms and conditions of hire (often printed on the back of invoices or delivery dockets). These terms and conditions transfer liability for damage or loss of the plant/equipment during the hire period, to the hirer. This can include hired in cranes with operator. A hired-in-plant insurance policy provides cover for this risk.
Cover is always subject to the policy terms and conditions
Examples of Contractors All Risks Insurance Claims
✓ A fire at an apartment block caused €75k worth of damage. Insurers paid the cost of repairs and the loss of rent.
✓ A tile came loose and fell from the roof of an apartment block causing serious injury to a pedestrian on the footpath below. The property owners liability insurance paid the compensation and legal costs arising from this unfortunate incident.
✓ An overnight fire during a construction project destroyed €500k worth of equipment, materials and completed works. The main contractor and sub-contractors successfully claimed off their Contractors All Risks policy for the value of the materials, plant and completed works.
✓ A crane turned over on site and was completely destroyed. The contractor claimed for the pre-accident-value of the crane through their Contractors All Risks insurance policy.
✓ A contractor hired an MEWP and it was stolen from site overnight. The hire company demanded payment of €60k as this was part of their written terms and conditions of hire. The claim was paid under the Contractors All Risks Hired-In-Plant insurance policy.
Why purchase Contractors All Risks Insurance?
Construction sites are high risk environments where accidents happen and thefts or malicious damage is common. Contractors have significant amounts of equipment, plant and machinery as well as hired in plant at these locations.
In addition, contractors have significant amounts of completed work at risk during the course of the contract. It is important that the right asset protection is in place to insulate contractors against losses. Contractors All Risks insurance provides bespoke cover for these assets and exposures.
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“We have been a customer of Martin Insurance for business and vehicle use for a number years now and they always provide a friendly, efficient, reliable and professional service. Each year we know they are looking after our needs and making sure we get the best service and customer care. We would have no hesitation in recommending Martin Insurance to provide the correct cover for your needs.”