Have you ever wondered what insurance is needed for businesses working in the construction sector? 

Construction insurance includes the following types of insurance policies:

• Public liability insurance: Provides protection if your business activities kill or injure a third party (non-employee) or damages their property. As a construction business who is likely to work near other people and their property, this is a type of insurance that you should certainly consider to ensure that you’re covered against potential claims.
• Product liability insurance: Provides cover if a product that you supplied, manufactured, adapted or imported has caused damage or injury to people or property.
• Employers’ liability insurance: This is a compulsory type of insurance for employers, regardless of whether the member of staff is permanent, temporary, a volunteer, contractor or freelancer. The minimum level of protection is £5m, which will cover the cost of compensation claims if they get injured or ill at work.
• Contractors all risk (CAR) insurance: CAR insurance provides protection against damage that occurs to site materials and works that you have been contracted to undertake. These are normally excluded under a regular public liability insurance policy.
• Professional indemnity insurance: Provides cover against negligent advice or if your work causes a problem for your client (for example if a construction project is delayed). If your construction business offers advice to clients or is responsible for designs, this type of insurance should be considered. Some clients also require construction businesses to have a certain level of cover in place, so it is worth checking this before you start work.
• Structural warranty: If your construction business is responsible for building or buying new buildings, then a structural warranty also know as latent defects insurance will provide you with 10 years’ worth of protection. This includes cover for latent defects that occur during the build period, but which are not discovered until after completion has taken place and is also known as latent defects insurance.
• Plant and machinery insurance: If you use plant and machinery on site (such as diggers, excavators cherry pickers, or generators), regardless of whether you own the equipment or you’ve hired it, this will help to cover the replacement or repair costs in the event that it is stolen or damaged.
• Engineering Inspection: Ensures that you keep any machinery and equipment in full working order, so that it is safe to use. The insurance ensures that inspections are carried out regularly by a competent engineer and are arranged for you by your insurer.
• Legal Expenses: Cover in the event of employment disputes, legal defence costs, contract disputes, Tax, VAT, PAYE and NIC investigations and more.
• Directors and Officers Insurance: Directors’ and officers’ insurance (also known as D&O insurance or management liability insurance) will protect your business if a claim is made directly against the directors and officers of your company. Even if you’re the owner of a limited company, personal claims can still be made against you, and therefore a D&O insurance policy can provide invaluable protection.
• Fleet and commercial vehicle insurance: Do you use a van as part of your work? Then you will need to ensure that you have the correct amount of van insurance in place to cover you whilst driving it.

These are just examples of some of the types of construction insurance policies that we look after at The Yorkshire Broker. As we know that no two businesses are the same, speak to us today to find out which policies will best meet your needs.