FD Beck Insurance Brokers

Protect Your Assets with Comprehensive Builders Insurance

Your future is in good hands

The construction or building industry is growing at a rapid pace. However, it also remains as one of the most high-risk industries from an insurance perspective. As we all know, many things could go wrong on a construction site. This includes losing valuable construction tools and equipment, on-site injuries, property damage and much more. Such incidents may result in huge financial losses. Additionally, it can also take a toll on your internal operations and puts your reputation at risk.
FD Beck Insurance Brokers has a solution that could safeguard your business, and yourself, from all of that. We provide comprehensive insurance packages for builders and business owners. Our insurance solutions will cover you from the risks you may encounter in the future.

What is Builders Insurance?

Builders insurance, also known as contract works insurance or tradesman insurance, is an insurance coverage specially customised to protect the assets of those in the construction industry. This includes protection against claims of third person injury, loss to property and the repairs and replacement of tools and equipment.

Who should get this insurance cover?

Businesses of all sizes and verticals that involve building or construction projects should consider having builders insurance. This includes SMEs, large commercial businesses, sub-contractors, and owner builders. Did you know that lender of financer for a project is likely to mandate that you have this insurance in place?

Insurance Coverage and Potential Benefits

Construction insurance covers go hand-in-hand to safeguard your assets as a builder and yourself as you go about your work. Our builders insurance package would include the following insurance products:

Property Damage

  • Covers expenses for physical loss, destruction of tangible property, plant & equipment, including the removal of debris.

Public Liability Insurance

  • Loss or damage to property or personal injury to a third party occurring within your business operations or caused by your company.

Product Liability (only available under an Annual Policy)

This will cover claims for compensation against your construction company for injury or damage to third party property resulting from a faulty product after your project has completed.

Existing Structures (optional cover)

  • This will cover expenses resulting from sudden and accidental physical destruction to existing structures caused by either natural events or the actions of the contractor or builder. Usually excluded from home warranty insurance.

Coverage Limitations

While a builders insurance policy covers all the needs of contract works, it has its limitations. For example, public liability insurance will only cover third persons. This does not include you as you would need personal insurance for that, i.e. you can’t sue yourself for injury to yourself. Separate to Workers Compensation or Construction Insurance you may want to think about the following:

As builders, you need to be aware of how vulnerable you are to risks due to the nature of your business. While life insurance or tradesman insurance may seem like a well-enough cover, you still need builders insurance, especially public liability coverage, to protect your assets when things go wrong with the building you are tasked to work on.


When should I get a builders insurance policy in place?

Cover needs to be in place from the moment your are on site, not when the framework or foundation is placed.

Is builders insurance mandatory?

Financing is involved in almost all types of construction projects, and most financial lenders will require this insurance placed before any work commences.

My subbies have contractor’s liability policies, so why do I need builders insurance?

Because contractors liability policy only covers them and it won’t extend to include the licenced or registered builder.

Contact Us​

FD Beck Insurance Brokers is a trusted insurance broker that can give you information about your business insurance needs and help you choose from available insurance products to create the perfect builders’ policy cover.