Builders Commercial Structural Defects Insurance>>>
Builders Commercial Structural Defects Insurance
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.
What’s included in the Policy:
- Covers commercial construction work against structural defects after project completion and notified during the policy period
- New construction, a re-building of an existing structure or the erection or re-erection of a building
- Repairs or alterations, extension or enlargement and to place or re-locate the building on land
- 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.
Why Choose BuildSafe?
Obtaining Commercial Defects Insurance is a straightforward process – just that many Insurance companies make it hard for the Builder. Not so at BuildSafe Insurance Brokers. We’ll help and get our hands dirty.
Got a Question about Commercial Defects Insurance? We’ve got the Answer!
Any defect in the structural works which affects the stability or strength of the building or any part thereof and is attributable to defective design, defective or faulty workmanship and/or defective materials and which;
1. Results in a regulatory authority closing or prohibiting the use of the building or any part thereof.
2. Does or would prevent the continued practical use of the building or any part thereof.
3. Results in destruction of the building or physical damage to the building or any part thereof.
4. Results in threat of imminent collapse that may reasonably be considered to cause destruction of the building or physical damage to the building or any part thereof.
1. All internal and/or external load – bearing structures essential to the stability or strength of the building or any part thereof, including, but not limited to foundations, floors, walls, roofs, columns and beams.
2. All other works forming part of the external walls and roofing, but excluding weatherproofing works not designed to add strength or support to the building, moveable elements of external windows, doors and skylights.
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