Construction works and public & products liability

Master Builder Platinum Protection™

Master Builders has developed Platinum Protection™; a construction works insurance policy designed to give you high-quality insurance protection against loss or damage that may occur to your works in progress.

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Your jobs can be insured for a wide range of circumstances, including events such as theft, malicious damage, storm, flood, cyclone, tsunami, fire and bush fire, subsidence or landslip. Also included are provisions for resultant damage to correctly executed sections of the works caused by faulty design, plan, specification, materials or workmanship in other sections of the works.

Master Builder Platinum Protection™ is no ordinary insurance policy. It provides an extensive scope of insurance protection well beyond the coverage offered by most other construction works insurance policies, and an exceptional balance of competitive pricing and excellent insurance coverage.

The benefits

With a Master Builder Platinum Protection policy, you get much more than just a standard policy. With us, you will benefit from our  Platinum Level insurance protection - including an extensive range of exclusive policy features that are automatically included every time.

You'll also benefit from our bulk buying power of the Master Builders membership and specialist insurance advice from experts in building and construction insurance.

Benefits include:

  • A wide range of essential policy extensions at no extra charge
  • Specialised insurance plans for the housing and commercial sectors
  • Flexible policy alternatives (project specific, monthly declaration or annual turnover)
  • Automatic minimum cover allowances for plant, equipment and tools on site, works value variations, owner-supplied materials, professional fees, debris removal following insured loss, materials in transit, loss mitigation expenses, expediting costs, additional costs of reinstatement, off-site storage and fabrication
  • Builders margin included in repair costs for insured losses.

We've made it easy for you, with quick turnarounds. Give us a call on 1300 13 13 26 to talk to one of our insurance specialists.

What it covers

Construction Works

Construction Works Insurance is designed to cover building works in progress, should loss or damage occur during construction. Insurance can be arranged specifically for each project or as an annual policy covering all projects undertaken with the insurance premium paid on works turnover.

There is no such thing as a standard policy, so builders should take particular care when taking out construction works insurance, as there are significant variations in the extent and quality of policies issued by different insurance companies.

Our Master Builder Platinum Protection Construction Works Insurance policy covers:

Project works are insured for an extensive range of events

Cover includes theft, malicious damage, storm, cyclone, flood, tsunami, fire and bush fire, subsidence or landslip. Also included are market leading provisions for resultant damage from faulty workmanship, materials, design, plan or specification.

Contract compliance

Compliance with insurance clauses of most standard contracts including Master Builders, Australian Standards, QBCC, ABIC.

Extra contingencies automatically included 

Allowances for works variations, escalation costs, inflation protection, owner supplied materials, professional fees, debris removal, mitigation expenses, expediting costs, materials in transit, off site storage and off site fabrication plus more are automatically included in every policy.

Generous allowances for construction and defects liability periods

Up to 18 months construction period and 18 months defects period, so the chances of insurance running out before completion is minimised. Longer periods are available by request, if needed.

Replacement value with builder’s margin allowed in repair costs

Repairs are insured for replacement value and builder’s margin is also claimable. In the event of construction delay due to a claim, cover even includes provision for inflationary costs to build any unbuilt portions of the project.

Special extended terms for specs and strata projects

Cover continues after completion pending sale for specs, or pending registration of spec stratas, for up to 18 months from construction commencement.

Plant, machinery, equipment and tools

Includes $20,000 site cover that can be increased or extended to cover off site, Australia wide. Cover is for replacement value and includes items hired in, if responsible.

Partial occupancy by owner plus delayed handover

Partial occupancy of the works by principal, prior to completion is allowed. Also, up to 90 days continuation of cover post completion is included, should the builder still have contractual responsibility for the works.

Public & Products Liability

Covering you for public and product liability, our Master Builder Platinum Protection Insurance policy covers:

Broadform liability terms of coverage

Protects your legal liability if you are held responsible for third party personal injury or property damage in your business activities and in addition, approved legal expenses.

Products liability in respect of your completed works

Your legal responsibility does not end at handover. Products liability cover protects you if your works cause third party injury or damage post completion. Your policy must be in force at the time damages occur.

Contract compliance

Compliance with insurance clauses of most standard contracts including Master Builders, Australian Standards, QBCC, ABIC.

Contractual liabilities and indemnities

Provision for personal injury or property damage liability arising solely by reason of contract. This includes indemnity provisions and liability of others assumed by contract

Your liability from subbies actions and your liability to them

Cover is provided for your legal liability arising from subbies actions. Also insured is your liability to subbies, their workers or other workers on site (Statutory WorkCover insurance may still be needed).

Vibration damage to property adjoining your sites

Cover is included up to the full limits of your policy in the event of damage to surrounding buildings or land caused by vibration, removal or weakening of supports. Also insures piling contractors, if obligated under contract.

Plant items on site

Includes liability arising from hoists, cranes and unregistered plant items, as well as property damage from registered plant whilst in use on site.

Office, storage, display, sales, workshops and property owner

Covers liability for all such activities and premises automatically. Property owner liability in respect of other properties used in your business is also insured.

Got a question?

Call the Master Builders Insurance team to discuss your insurance needs.

Phone 1300 13 13 26

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