Contract Works Insurance

Contract Works Insurance is an insurance product developed to cover against risks associated with civil, commercial and residential construction projects including swimming pools and is made up of two sections.

SECTION 1: MATERIAL DAMAGE

Loss or Damage to the insured construction project.

This covers the cost of materials and labour to re-establish a project to the stage it was prior to the insured loss.

There are a number of scenarios on a construction site where loss or damage to a building project can occur, including; storms, fires, earthquakes, water damage, malicious damage and theft. These types of incidents are not covered under a standalone property policy, but are under a Contract Works policy.

SECTION 2: BROADFORM LIABILITY

Loss or damage to third party property or Personal Injury to a third party person. 

AB Phillips and SURA Construction have worked together to formulate a policy that is designed for businesses operating in the pool and spa industry and not just the broader construction sector. Some of the key features of Contract Works Insurance are:

  • Dewatering - the removal of water from the completed sections of the construction site following an indemnifiable event.*
  • Errors and Omissions Extension option which provides a full financial loss cover arising out of your Professional Services.*
  • Partly Completed Projects - if a project commenced prior to the commencement of this policy, section one extends to cover those completed parts of the project.*
  • Mobile Machinery & Equipment and Employee Tools - Optional cover for loss or damage due to theft of Mobile Machinery & Equipment and Employee Tools.*
  • Care, Custody and Control Extension - damage or loss of property owned, leased or hired by or under hire purchase or on loan to you or otherwise in your care, custody, physical or legal control.*

* Within the terms and conditions of the policy wording by SURA Pty Ltd (ABN 35 147 580 756 AFSL 294313). You can obtain policy wording by requesting it from the AB Phillips insurance team.

The benefits of Contract Works Insurance include:

Insurance which covers the SPASA Member Contractor and the Resident Owner. It covers the respective rights and interests in the full insurable value of the work required under your Contract, at the construction site, from the Commencement Date “on site” until the end of the defects liability period noted on your coverage summary.

It covers the Public Liability of the Residential Owner (named in the contract) and the SPASA Member Contractor to third parties in respect of personal injury, death or damage to property arising from or in connection with work being done under your SPASA Recommended Contract.

Simply said, this means that if any materials or equipment required for work are stolen or damaged on site, or if any person is injured or killed on site (as a result of, and during the course of Construction) both the Residential Owner (named in the contract) and the SPASA Member Contractor are protected.

WHO NEEDS CONTRACT WORKS INSURANCE?

Contract Works insurance should be taken out by licensed builders and contractors on commencing a residential or commercial building project.

HOW DO I ARRANGE THE REPLACEMENT OF “WATERWORKS” INSURANCE WITH CONTRACT WORKS INSURANCE?

Your WaterWorks policy is now an annual Contract Works policy. Please contact Sarah Gardiner-Smith from AB Phillips on

sarahg@abphillips.com.au about your annual ‘Contract Works’ and ‘Liability’ policy.

MAKING A CLAIM

Immediately when you become aware of any circumstance you think is likely to give rise to a claim that may be covered by your Contract Works cover, please advise AB Phillips on 1300 242 136, PO Box 832 Moorabbin Vic 3189 or email

johnw@abphillips.com.au , in writing, as soon as practicable.

FOR MORE INFORMATION

For more information, visit http://www.abphillips.com.au/swimming-pool-spa-association-of-australia-spasa or contact Sarah Gardiner-Smith, Account Manager on (03) 8586 9363 or email sarahg@abphillips.com.au today.