The construction industry inherently involves various risks, including accidents and unforeseen project disruptions. These can severely affect timelines, leading to substantial financial losses.
Tailored insurance solutions for your business
The success of any construction project largely depends on effective risk management, which involves robust business practices, meticulous planning, and thorough attention to project contracts. Despite best efforts, some risks are unavoidable, and this is where construction insurance plays a critical role.
Experts in construction risk and insurance
At ADK Insurance Brokers, we offer tailored insurance solutions and expert risk management advice to businesses across Australia’s construction sector. With extensive experience in commercial, domestic, civil, and mechanical construction projects, we have helped businesses navigate the complexities of the industry. Whether you manage national or local construction projects, our brokers provide personalized advice based on a comprehensive analysis of your needs throughout the full life cycle of your projects—from planning and site work to handover and defect management.
What Insurance Do You Need for Construction?
The construction industry is fast-paced and ever-changing. With over 35 years of experience, ADK Insurance Brokers brings innovative, strategic advice and forward-thinking solutions to meet the needs of both emerging companies and established industry leaders. We specialize in construction and engineering risks, from contract works to public-private partnerships, as well as complex developments such as tunnelling projects and greenfield sites.
Latent Defects Insurance for Builders and Developers
Latent Defects Insurance (LDI) covers loss or damage to a completed building due to defects in design, materials, or workmanship that were not identified at practical completion. The coverage period extends for up to 10 years, protecting developers and builders from future liabilities.
What Is Construction Insurance?
Construction insurance is a comprehensive suite of policies designed to protect builders, contractors, developers, and project owners from the unique risks associated with construction projects. Whether you’re constructing residential, commercial, or infrastructure developments, this insurance helps safeguard your finances, reputation, and legal standing.
What Construction Industry Insurance Covers
Construction insurance provides broad protection for builders, contractors, and developers. It helps cover project damage, third-party liability, worker injury, and professional risks, keeping your business and projects secure from start to finish.
Construction Works Insurance (Contract Works Insurance)
Covers damage to the construction project due to fire, storm, theft, vandalism, or accidental damage. It may also include coverage for off-site storage, materials in transit, debris removal, and professional fees.
Public & Products Liability Insurance
Protects against third-party injury or property damage caused by your work or materials. It’s often required for compliance with councils and principal contractors.
Professional Indemnity Insurance
Covers claims of negligence, errors, or omissions in design or consultancy work. Essential for architects, engineers, and project managers.
Workers’ Compensation Insurance
Mandatory in Australia for employers. It covers medical costs and lost wages due to work-related injuries.
Builders Risk Insurance
Protects the physical structure during construction from risks such as fire, theft, and severe weather.
Optional Add-ons
Tools and equipment coverage
Legal expenses
Environmental liability
elay in start-up or advanced loss of profits
Cover at a glance
Comprehensive protection for construction projects of all sizes
Cover for property damage, theft, fire, and accidental loss
Public liability and professional indemnity options
Workers’ compensation for employee injuries
Protection for tools, equipment, and machinery
Optional extensions for legal expenses and environmental risks
Tailored policies for builders, developers, and contractors
Why Small Business Professionals Need Insurance
For small businesses, insurance is a critical component of risk management, safeguarding against potential financial loss, brand, and reputational damage. Regardless of the goods or services your business provides, ensuring quality products and exceptional service is a priority.
However, unforeseen events can disrupt even the best-laid plans. Depending on your business type, industry-specific risks may require tailored coverage. Our team can help identify potential uninsured risks in your business profile and recommend appropriate policies to mitigate these risks.
Who needs it?
Construction insurance is essential for anyone building, managing, or financing projects — from builders and trades to developers and owner-builders.
Builders and Tradespeople
Working on residential, commercial, or industrial projects.
Property Developers and Project Owners
Financing or overseeing construction projects.
Property Developers and Project Owners
Financing or overseeing construction projects.
Owner-Builders
Managing their own home construction or renovation projects.
Protect your projects from the unexpected
Even the most meticulously planned projects can be disrupted by unforeseen events like storms, theft, or legal disputes. Construction insurance ensures you’re not left with significant financial burdens and helps you comply with regulatory requirements across Australia.
