Competitive Business Car Insurance
If you are needing insurance for a business owned car such as a pool car then look no further. As business and pool car specialists, we can cover any vehicle and are specialists in this field.
Builders’ Indemnity Insurance, Backed By ‘Exceptional’ Service
Looking for cheaper builders’ indemnity Insurance? Let us compare our markets to find the construction professional indemnity insurance that’s right for you. As one of the UK’s leading construction insurance specialists, we can help you protect yourself from professional indemnity claims from your customers. To find out more, call us today on 01482 434343 or request a callback and let our award-winning team help you get the cover you need.
Call us today on 0800 977 6037 and let our award-winning team help you.
Call us today on 0800 966 6037 and let our award-winning team help you.
Why choose Coversure for your Builders’ Indemnity Insurance?
Our award-winning team is rated as ‘Exceptional’ by feefo, and with over 50 years of construction insurance experience, you can rest assured you’re in safe hands. As an independent broker, we’re not tied to any one insurer, and we’ll compare the market to find you great cover for a price. To find out more, call us free on 01482 434343 or start your contractor indemnity insurance quote today.
Fleet Insurance backed by ‘Exceptional’ service
Our award-wining team is rated as ‘Exceptional’ by feefo and with over 50 years of business fleet insurance experience, you can rest assured you’re in safe hands. Being independent we can put your needs first, and we’ll compare the market to find you great cover for a great value premium.
What is Builders’ Indemnity Insurance?
What is Fleet Insurance?
Builders’ indemnity insurance, also known as professional indemnity insurance for construction or contractor indemnity insurance, protects builders and other construction professionals should they be sued by a client over the advice they have given. Common reasons for a professional indemnity insurance claim within the construction industry are that the client feels the advice was wrong or inadequate and/or that it cost them money.
What does Builders’ Indemnity Insurance cover?
Builders’ indemnity insurance is like any other form of professional indemnity insurance in that it can protect policy holders from claims for:
Breach of confidence – unintentionally or accidentally sharing confidential or sensitive information without consent. So, for example, telling a third-party about a problem with a site that then causes investors to lose faith in the project
Negligence or breach of duty of care – making a mistake in your work or giving bad advice to a client
Breach of confidence – unintentionally or accidentally sharing confidential or sensitive information without consent. So, for example, telling a third party about a problem with a site then causes investors to lose faith in the project
Defamation – making false or damaging claims about a person or organisation
Professional indemnity – should the advice you give your client be misleading or wrong and it costs them money and they decide to sue, you’ll be covered for legal fees and compensation claims should they win
Civil liability – if a claim occurs because of your business’s activity for a client
Loss of data or documents – such as the plans for a new development that are commercially sensitive
Call us today on 0800 977 6037 and let our award-winning team help you
Who Needs Builders’ Indemnity Insurance?
Almost all construction and building professionals will give their clients advice and as such almost all construction professionals should have builders’ indemnity insurance in place. Specific ones include:
Construction Firms
All shapes and sizes, from those doing residential developments to larger industrial and civil engineering projects.
Building Firms
Whether a one-man builder or a small to medium building contractor we can arrange insurance for you including alterations and repairs through to new builds.
Building surveyors
As a building surveyor giving clients is a key part of your job and so having professional indemnity insurance in place is seen by many as a must-have cover.
quantity surveyors
Being a quantity surveyor means offering professional advice daily, so again, having professional indemnity insurance in place is seen by many as a must-have cover.
solo contractors
Being the only contractor on a job means the client is likely to ask you for advice and you may well be responsible for holding plans and being held in their confidence, all of which makes having construction professional indemnity in place is important.
Sub-contracted construction firms
Sub-contractor of all kinds are vital to the construction industry, both labour only or bona fide and may be direct or via an employment agency requiring additional cover all of which we can help with.
What other policies should construction firms consider?
While builders’ indemnity insurance is an important protection, it’s far from the only one that construction contractors and builders should have. Other important policies include:
Public liability insurance – or PL insurance as it’s also known, forms the basis of most construction or building site insurance policies. It will protect you/your business should a member of the public be accidentally injured or their property damaged because of your work. Construction often involves working in public spaces and as accidents do happen it makes sense to have PL insurance in place
Employers’ liability insurance – or EL insurance, protects employers from compensation claims from their employees should they be sued for loss or injury at work. If you have people working for your construction business, be they full-time, part-time, or contracted or sub-contracted, then having employers’ liability insurance cover is a legal requirement. Failure to have a policy in place can lead to a £2,500 fine for each day you are without it.
Personal injury insurance – construction sites can be hazardous places and if someone is injured on your site then you could be left facing a hefty compensation claim. According to the latest Health & Safety Executive’s (HSE) latest report, there were 69,000 workers off work-related ill health, 45 fatal injuries, and 53,000 non-fatal injuries in 2022/233. Injuries and claims are on the rise in the UK, so this is an important cover to have in place
Contract works insurance – contract works insurance – also called contractors all risks (CAR insurance) cover or JCT Option C – protects you against risks like fire, theft, vandalism, and accidental damage to materials, ensuring your projects are safeguarded from unexpected setbacks
Plant and hired-in plant insurance – also known as construction plant insurance or construction fleet insurance, plant insurance will cover your cranes – be they owned or hired – from loss, accidental damage, and ongoing hire charges for a fixed period. There’s been a sharp rise in the number of construction plant thefts in recent years and this is now a £1bn problem for the industry
How much does
Builders’ Indemnity Insurance cost?
At Coversure we don’t believe in one-size-fits-all solutions for our clients. Instead, we’ll get to know your needs and create a package of cover that fits your requirements. What we can say is that your professional indemnity insurance for construction will depend on things such as…
The level of cover you require, so the policy limits on things like your public liability insurance
The type of work you do – if you’re operating in high-risk inner-city construction sites or on motorway maintenance, that will push up your premiums
The size of the company you’re working with – working with multinationals on multi-million-pound developments will be seen as riskier than doing a home extension
The level and type of advice you are giving – if you’re giving the client specialist advice on something substantial, such as the type of RSJ to be used in a large development, your construction PI insurance premiums will be higher
Your claims history
The size of your business
The duration of the work – the longer the project, the greater the chance of a claim
The ages, skills and qualifications of your team
How to get cheaper Builders’ Indemnity Insurance
This is a question we get asked a lot, especially as professional indemnity claims have been on the rise in the UK over the past few years, and insurers’ appetites have reduced. The good news is that there are several easy ways to potentially get cheaper construction PI insurance:
Shop around – like any other insurance policy, it can pay to shop around. Better still, get an independent construction insurance broker such as us to do the shopping around for you
Use an independent insurance broker – construction PI insurance quotes can involve multiple complex risks with policies containing exemptions and limits that may not be obvious to the layman. By getting some advice from an independent broker that specialises in construction insurance, such as us, you can be sure of getting the cover you need
Increase your excess – your excess is the amount you pay in the event of a claim. We’ve seen quotes come down by as much as 10% by increasing the excess
Pay annually – while it’s convenient to pay monthly, it will cost you more
Limit the amount of advice you give and who within your business can give it
Stick to what you know – if recommending products, then stick with tried and tested ones that you can rely on
How much does Builders’ Liability Insurance cost?
At Coversure, we don’t believe in one-size-fits-all solutions for our clients. Instead, we’ll get to know your needs and create a cover package that fits your requirements. What we can say is that your builders’ indemnity insurance quote will depend on things such as…
The level of cover you require
The type of work you are doing and for whom
The size of the clients you are working for
The level and extent of the advice you are giving clients
Your claims history
The size of your business
How long you will be working on a project for
The ages, skills and qualifications of your team
Committed to finding you the protection you need
If you’d like some independent advice or an insurance quote, please call us on 01482 434343
Committed to finding you the protection you need
If you’d like independent advice or an insurance quote, please call us on 01482 434343.
Insurance specialists for business, property and motor
Local service – online, by phone, or in person
Help and advice to ensure you’re protected
Frequently Asked Questions
We get asked a lot of questions about construction insurance, so to make getting the cover you need easier, here are our construction company insurance frequently asked questions and answers. We’ve covered the most important issues here, but if you’d like some independent advice, then please call us on 01482 434343 or request a callback. Our team of specialists will be happy to talk you through the options to ensure you get the protection that’s right for you.
Builders’ indemnity insurance also known as professional indemnity insurance for construction or contractor indemnity insurance, protects builders and other construction professionals should they be sued by a client over the advice they have given. Common reasons for a professional indemnity insurance claim within the construction industry are that the client feels the advice was wrong or inadequate and/or that it cost them money
No, but given the risks you run and the potential payout size, it’s well worth having it in place
Almost all construction and building professionals will give their clients advice, and as such, almost all construction professionals should have builders’ indemnity insurance in place
No, professional indemnity protects construction firms against the advice they give and some of the professional conduct. Public liability insurance protects them against claims for accidental injury or damage to property
No, but if you have employees, then you will need employers’ liability insurance
There are several ways you can potentially save on building site insurance. Use an independent insurance broker; use an independent construction insurance broker – not only can they do the shopping around for you, but they’ll also have both the insurer contacts and the specialist knowledge required to find you the cover you need. Limit the amount of advice you give and who within your business can give it, and stick to what you know. If recommending products, then stick with tried and tested ones that you can rely on. If you’d like some help getting cheaper insurance, call us on 01482 434343 or request a callback, and one of the team will be happy to give you all the help you need
Getting a quote is easy. You can get your builders’ indemnity insurance quote here, call us on 01482 434343 or request a callback, and one of the team will be happy to give you all the help you need
