Contractors all risk insurance

Contractors all risks insurance is a type of policy that offers cover for ongoing work on a contract site. It typically includes cover for your contract works, your own plant, your tools and equipment, your employees' tools, hired-in property and temporary buildings during construction, as well as their fixtures and fittings. The 'all risks' element means that the policy will cover any loss except those specifically excluded from the cover.

'All risks' means that insurance cover is not limited to a pre-defined set of risks. Instead, it offers blanket protection against any and all risks, except those specifically excluded in the policy's wording.

Professional indemnity insurance is a requirement for NICEIC Scheme(s) where the scope of work undertaken includes periodic inspection and testing. This will cover the cost of legal fees and compensation if a client alleges a failure in your professional advice. The good news is that professional indemnity cover is included as standard in most of our contractors insurance solutions, designed to provide comprehensive, flexible cover at an affordable price.

Efficacy cover is liability insurance, which protects you in the event of an injury to a third party or damage to their property resulting from the failure of a product or service to perform its intended function. For example; an alarm system, fire control or extinguishing system, or electronic security system. The cover applies to either failure of a product or a fault in its installation. With our specialist electrical contractors insurance cover we automatically include efficacy cover of £100,000 as standard.

How much insurance cover you need to protect your business and your livelihood depends on the nature of your business, but also your attitude to risk. First of all, if you employ people, employers liability insurance with a limit of at least £5 million is a legal requirement. Equally, public liability insurance of at least £2 million is also a condition of NICEIC certification.

Professional indemnity insurance is a requirement for NICEIC scheme(s) where the scope of work undertaken includes periodic inspection and testing. This will cover the cost of legal fees and compensation if a client alleges a failure in your professional advice.

All these liability covers are essentially designed to help with legal fees and compensation if a client, employee or member of the public takes legal action against you related to your work. On top of that, if you use a business vehicle, insurance is compulsory, and you may also want to consider insurance for premises, tools, contract works and personal covers like income protection and personal accident. The good news is that the insurance you need is readily available from NICEIC Insurance services– with flexible, competitively priced policies that can be tailored to your needs.

There are some exceptions, but if your business has at least one employee, then the likelihood is you’ll need employers liability insurance. Remember too that temporary workers, "labour-only" sub-contractors, volunteers and people doing work experience all count as employees for the purposes of insurance. The Employers' Liability (Compulsory Insurance) Regulations 1998 made employers liability insurance cover of at least £5 million compulsory for any individual or company with employees.

The exceptions include: unincorporated family businesses, however if the family business is incorporated as a limited company, it will need to be covered by employers liability insurance.

If a business has volunteers or family members helping out without formal employment, they may not be covered under the employers' liability insurance, but it could be wise to consider coverage for them as well.

You are also exempt if you are the director of a limited company and the sole employee, and own 50% or more of the issued share capital.

A "To Whom It May Concern" certificate of insurance is a document that provides proof of insurance coverage to a third party. This type of certificate is often requested by individuals or organisations that need verification of a business's insurance policies, typically for purposes such as contracts, leases, or compliance with regulations. 

It is important to note that a certificate of insurance is not a contract and does not alter the terms of the insurance policy. It merely serves as evidence of coverage and does not guarantee that a claim will be paid.

The TWIMC Certificates have to be manually generated and in adherence with the levels of cover that you have purchased and are available upon request. Should you wish to receive a TWIMC, please contact us on 0333 015 6629.

Your Sum Insured will normally be the gross amount covered under a particular section of cover such as Contents. Where the cover is Liability, you will find the Sum Insured is replaced with an Indemnity Limit. The indemnity limit is the maximum amount you can claim under the insurance during the annual period of cover. It is important to understand that Insurers will cover you either for Any Claims Made or on Aggregate. Any Claims Made will mean that you are insured up to the indemnity limit and you can make as many claims as long as they do not exceed that limit. Aggregate on the other hand is where this limit is reduced each time a claim is made.

For example you if you hold £1,000,000 cover and have it on Any Claims Made basis, you can claim as many times as you need as long as the claim does not exceed £1,000,000. If you were to have it on an Aggregate basis and were to make a  £750,000 claim, you would only have £250,000 cover left.

Should you wish to discuss this in more detail or to check if any of the above applies to your policy, please contact us on 0333 015 6629.

The terms Declared Value and Market Value are used in insurance and both have an impact on how a claim is settled.

Declared Value is where you insure an item based on your opinion or valuation. It is most common with vintage cars, art work, jewellery and one offs/limited editions where there are considerations for sentimental value and if the item can not be replaced. Normally any settlement will not have any deductions made unless the item is over valued.

Market Value is more commonly used where the loss or damage to an item is settled based on what it would cost to replace the item like for like. For example a modern motor vehicle or computer declared unrepairable will be valued this way by an engineer/loss adjustor where the age, condition and market value may influence the settlement offer.

It is important to understand that during the event of the claim, it is your responsibility to prove the value of the item. Best practices include taking images of the item and keeping receipts/valuations to proof both ownership and value.

Should you wish to discuss this in more detail or to check if any of the above applies to your policy, please contact us on 0333 015 6629.

Whilst this policy is popular among electrical contractors, we are able to cater over 83 different trades from Landscape Gardeners, Plumbers, Window Cleaners to Renewable Energy Installers.

You can find a complete list of trades when obtaining a quote through our website here. If your trade is specialized or not listed, please select "other," and we will reach out to you. Alternatively, feel free to contact us at 0333 015 6629.

While we cannot provide coverage for your vehicle under this policy, we are pleased to advise that we can offer you cover through an alternative motor insurance policy. If you require coverage for your vehicle, please reach out to us directly at 0333 015 6629.

Yes. All new policies sold online and renewals can be paid for by Debit and Credit Card. Some policies have an option to pay by finance which is offered via Close Brothers Premium Finance. 

Whilst not offered online, some Insurers may also offer a direct debit. Please contact us if you wish to learn of different methods of payment and whether Direct Debit is offered.

We make individual client administration charges per policy (up to a maximum of 3 policies, per policy period) to cover the costs associated with administering your insurances e.g. arranging a new policy, carrying out short-period or mid-term cancellations, mid-term changes, providing replacement or duplicate documents and for other administrative tasks. We will advise you of the amount of fee before you become liable to pay it. Individual charges will not be made in relation to employee benefit related products.

To access your documents, simply log into your Account, click on "Your Policies" and then select the "View" button  on the policy. From here you can download the document if needed.

Please note that under your account, there is a button titled "Documents". This button is for uploading documents and not for accessing your policy documents.

Log-in to the portal

The portal enables us to be more environmentally friendly as we reduce the amount of printed policies and adopt a digital approach. 

Yes. You can manage your policy renewal online. We will inform you by email within 28 days before your renewal date and upload all your renewal documentation onto the portal for you to review.

If you have not heard from us prior to the renewal, please check your documentation carefully in case there has been a change to your circumstances to prevent accidental underinsurance or a gap in cover.  

You can also make payment online for your renewal by card and where applicable by Premium Finance or Direct Debit. If you had paid your previous years policy by Direct Debit, please contact us as it is not uncommon for renewals on Direct Debits to renew automatically.

Please don't assume your policy has been renewed until you have received confirmation in from us. 

If you are concerned about your policy, please call us prior to the date of renewal and one of our Team will be happy assist you.

Unfortunately you can not make changes online. If you need to make any changes to your policy please contact us on 0333 015 6629.

Any cancellation will also need to be handled offline. Please note that all policies are contracts and there may be stipulations that could affect any refund amount due. Such examples include:

• Any claims made within the period of insurance (excluding claims made in previous years unless made under Professional Indemnity or claims that have been settled as non fault or where the claim has been settled with no payment being made).
• The Insurers terms and conditions stated within the Policy Wording states that any cancellation in cover are non refundable.
• Some Insurers may place a condition that if a refund is below a set amount, there will be no refund due to processing fees.

Should you wish to discuss this in more detail or to check if any of the above applies to your policy, please contact us and one of our Team will advise you accordingly.

The knowledge that experienced claims professionals will support you is just as important as the policy cover.

Our dedicated in-house claims team will be by your side, fighting your corner from start to finish. We promise to be there when it matters most.

Make a claim

Alternatively you can call us on  0333 015 6629, and speak to our team of experts who will be on hand to provide the best solution and guide you through the next steps.

Should you have any further enquiries, call an one of our dedicated team experts now on 0333 015 6629.