Building Contract InsuranceBJP Insurance Brokers Ltd are construction insurance specialists. We can offer you support in assessing and sourcing contractual insurance for building contracts. Today’s Building contracts (JCT, NEC, PPC …) all have various insurance implications for the parties concerned – employer, property owner, design team, contractors and sub contractors.
BJP can offer specialist advice on contractual insurance requirements and source a suitable insurance product.  - We provide free assessment of contractual insurance requirements.
- We can help your clients find the right insurances for their project.
- Our team of qualified construction insurance specialists can offer you specialist contractual insurance advice and support.
- All our insurance products are all supported by specialist claim experts. If there is a claim, we will find your client the best settlement.
- Introducer agreements are available for all professional and commercial bodies who want us to assist their clients directly.
Call Stephen Hegarty to discuss how we can help you on 0118 979 2121.
Examples of contractually required Insurances:
1. Joint Names Insurance
Building contracts can sometimes request insurance on a joint-names basis. Some insurers are not keen to extend their cover to add a joint-insured. We can find you the right cover with the right insurer.
2. Joint Names Insurance of the ‘Works’
If you are a property owner (or contractually an ‘Employer’), we can advise and help you source this cover if contractually required. This insurance is commonly requested in joint names of the ‘Employer’ and ‘Contractor’.
2. Non-Negligence Insurance (JCT Clause 6.5.1 or similar)
This cover is an extension to the ‘Contractor’s’ public liability to provide cover for third party property damage where there is no clear negligent act. Some insurers will not extend their cover to include this insurance – we can find you the right cover with a more sympathetic insurer.
3. Collateral Warranties
This is where a contract contains a binding section that allows certain third parties to have rights under a building contract. In most cases, professional indemnity is also requested of the ‘Contractor’. These warranties can be tricky and a legal assessment may be required. We can help you source both the insurance cover and the legal assessment.
4. Latent Defects Insurance & Insurance backed Warranties
New properties, refurbished or extended properties sometimes need to have the protection of an insurance backed structural warranty – typically for a 10 year period and designed to cover any latent or inherent defects. We can source the best product at the best price. |
