Builder – Commercial Defects Insurance

commercial-defects copy copy

Commercial Structural Defects is applicable to Victorian Commercial Builders.

The policy is an annual cover and the premium is determined on the level of structural work included in a commercial project. These annual policies cover the commercial builder for legal liability for claims made during the period of insurance in respect of defects in structural work. Commercial Defects Insurance
The cover is there to offer recourse to clients for structural defects occurring post construction. That being said, what does a Commercial Defects Policy actually cover? Good question. We all like to know that “we are covered”, but it would also help to have an understanding of the actual protection provided by the policy. The knowledge will empower commercial builders to make decisions based on the terms and conditions of their policy and reduce the likelihood of having to make a claim.

Cover Commercial Defects insurance covers commercial construction work against structural defects after project completion and notified during the policy period. The term “construct” can refer to a new construction, a re-building of an existing structure or the erection or re-erection of a building. “Construct” can also mean repairs or alterations, extension or enlargement and to place or re-locate the building on land. The “insured” covers any person who is, or becomes during the period of insurance, a principal, partner, director or employee of the insured, who is a registered building practitioner. Structural defects are defined as any defects in the structural works, which affect the stability or strength of the building due to defective design, workmanship or materials. The structural works includes all internal/external load bearing structures essential to the stability of the construction. In the first instance register your enquiry and we will send you the relevant proposal form. Construction and Public Liability Insurance is also available through BuildSafe. Be Sure Be Safe Build Sure BuildSafe Enquiry Form >>> Call 1300 856 603 for more information
BuildSafe you have gone well beyond the call of duty and I’m totally grateful,