Construction Insurance for Builders, Tradies & Property Developers

WHAT WE DO

Contract Works, Public Liability, business insurance packs and project-specific developer solutions — structured properly for builders, trades and property developers.

Servicing construction businesses to around $50 million turnover

Practical Insurance Solutions for the Construction Industry

Construction insurance isn’t just about having a policy — it’s about having the right structure.

TPIB helps builders, tradies and developers arrange insurance that:

Protects projects during construction
Covers liability exposure properly
Aligns with contracts and project requirements
Continues to protect you after the job is finished

Contract Works Insurance

Protects your project during construction against insured loss or damage.

Includes:

Works in progress
Materials and site stock
Temporary structures
Storm, fire, impact and theft
Optional existing structures and maintenance cover

ANNUAL CONTRACT WORKS & LIABILITY OPTIONS

Annual Insurance — There are Two Ways to Structure Your Cover!

Annual Contract Works and Liability insurance can be arranged on:

Projects Commenced Basis
Turnover (Declaration) Basis

Choosing the wrong structure can create gaps, admin issues or renewal risk.

Projects Commenced Basis- ( also known as Run-off basis)

Best for larger, varied or contract-driven projects

Key Features

Each project is declared
Cover runs for the life of the project
Often continues until completion or agreed period (commonly up to 2 years)

Advantages

Greater certainty of cover to insure what you have started to build
Better suited to larger builders and contractors
Stronger alignment with contract requirements with your clients
Less reliance on yearly renewal for existing projects
Your insurance cost for the entire project ( up to 2 years) is known upfront.

Considerations

Requires declarations and proper record keeping
More administration
Premium cost fixed if value of projects commenced is similar to estimate of works given when the policy is taken out. i.e if you think you will complete $10m in contracts over the next year but you actually do $15m you will have addition premium to pay when at the end of the insurance period.

This type of policy is particularly beneficial for builders who want continuity and certainty in their coverage.

or Turnover Basis ( also known as Transfer Basis)

Best for ongoing trade businesses and repeat jobs and work

Key Features

Based on annual turnover
Covers all work within scope
Adjusted at end of year

Advantages

Simple, efficient structure
Lower admin
Predictable annual premium

Real Difference

Turnover basis: You rely on future renewals to maintain cover
Projects commenced: Cover follows the project lifecycle ( which you may have agreed to in your construction contract)

The insurers may apply additional premiums to cover completed parts of projects, especially if multiple projects are nearing completion when transferring policies.

Critical Consideration (Important)

Turnover-based policies typically:

Expire at renewal date
Rely on the insurers offering renewal
Are exposed to:
- Market hardening
- Claims history impacts
- Changes in insurer appetite

This can create risk where:

Projects are still ongoing
Future liability exposure exists
Renewal is declined or restricted due to changes in the market or your recent claims history

PUBLIC LIABILITY INSURANCE

Covers legal liability for injury or property damage to third parties.

Available as:

Standalone Public Liability
Part of a business pack
Part of a Contract Works policy
Broadform Liability (recommended in many cases)

Business Insurance Packs for Trades

Designed for trade businesses needing practical, bundled cover:
Public Liability
Tools and equipment
Commercial motor
Portable equipment
Business interruption
Theft and property

COMPLETED WORKS & LIABILITY RISK
Your Risk Doesn’t End When the Job Is Finished
One of the biggest gaps in construction insurance is what happens after you leave site.
Products Liability — Critical Cover
To remain protected after completion, your policy must include Products Liability.
This covers:
Damage caused by completed works
Third party injury after handover
Property damage arising months or years later
Example Scenarios
A balcony collapses after completion
Water ingress damages a neighbouring property
Faulty installations causes injury
These are completed works claims, not construction phase claims.

Do I want Combined or a Broadform Liability policy?

A Combined Contract Works & Liability
Convenient bundled cover
May include products liability
Can be restricted depending on wording

A Broadform Liability (Recommended in many cases)
Stronger Products Liability structure
Designed for ongoing business exposure
Better suited for:
- Builders
- Trade contractors
- Businesses with ongoing liability exposure

What is important here is that
If you don’t have proper Products Liability, your completed jobs may not be fully protected.

FOR BUILDERS & TRADESMEN

Insurance That Matches How You Actually Work

We help:

Builders
Subcontractors
Trade businesses
Small to mid-tier operators

With:

Standalone Public Liability
Contract Works (annual or project-based)
Business packs
Certificates for contracts
Cover aligned to real operations

FOR PROPERTY DEVELOPERS

Project-Specific Insurance for Developers

Developers don’t always need to rely on builders to arrange project insurance. And there can be good reason to insure your project with a Principal Controlled works policy that in turn will indemnify your main contractor and subcontractors.

TPIB can assist with:

Principal Controlled Construction & Liability Policies

Arranged at the project level, not builder level.

Why Developers Use This Structure

Greater control over insurance
Consistent cover across the entire project- no risk of the policy being lapsed due to main contractors financial position or ability to complete the works.
Reduced duplication of insurances on the project
Ability for builders to remove insurance costs from tenders
Cleaner project-wide risk structure
More reliable cost estimate for the entire projects insurance costs.
Not reliant on your main contractor to renew their annual policy to provide cover for your risk.