How much can you claim on Contractor’s All Risks Insurance?
Rhino offers some of the most generous cover limits around, for the best possible price.
Limits of Indemnity start at £10,000 (for the actual contract works) and go up to £250,000, for building contractors undertaking larger builds.
For more information on the specific amounts the Policy will pay out, check out our handy table in the FAQs.
How Much Does Contractors All Risks Insurance Cost?
Just like with all insurance, exact premiums vary depending on factors such as the size of your business, the number of employees and the types of works undertaken. Contractors All Risks Insurance is calculated on a project-by-project basis. Things like your contract value, the type of project undertaken and the security you have in place.
The best way to get an idea of how much you’ll pay is to head over to our quick quote engine, enter a few simple details about your business and you’ll have a personalised quote in seconds.
Do Builders Need Contractors All Risk Insurance?
The short answer is yes. Without it, your business may not survive the costs of rebuilding a job from scratch or replacing costly machinery or materials.
If you’re a builder, contractor or developer, you’re likely to be establishing long-term sites around the property or structure you’re working on. On these sites you’ll have everything from materials for the build, equipment, tools and machinery (whether owned by you or your subcontractors or hired from a third party) – as well as the actual building and project under construction.
These things are all crucial to a job’s completion. Not only this, they’d cost a fortune to replace should anything happen on-site to cause their loss or damage.
As a self-employed builder or contractor, you’re in charge of the project, so anything that happens to the site will be your responsibility to put right. Fire, flood, theft, vandalism or weather damage to a job site would be a financial disaster for your business, which is exactly where Contractors All Risks Insurance comes in.