An owner builder is anyone who decides to build or do construction work on their own– without the help or hiring of a registered builder. With this comes the responsibility for all subcontractors and the risks that come with construction projects. To be safe from liability and legal responsibilities, one must acquire an owner builder insurance. This covers any accident or legal liabilities that might happen.
This insurance is for people that own business assets in Australia. Commercial property insurance covers fire and defined events, business interruption, glass breakage etc. Some commercial policies can also be extended to include car insurance.
The halt in work operations caused by calamities can affect profits. These cases may reach short to extended periods of time depending on the situation. A business interruption insurance policy covers your company when you cannot operate.