Protect Your Business with Contract Works Insurance
Contract Works Insurance protects construction, renovation and alteration projects during the build phase. In New Zealand, standard home or business insurance won’t cover a property while significant structural work is underway — so contract works cover is essential whenever construction risk exists.
This type of insurance is commonly required by construction contracts and lending institutions before funds are released, because it ensures that sudden and accidental physical damage to works in progress doesn’t become a major financial loss.
What Contract Works Insurance Typically Covers
A contract works policy provides protection for:
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Physical loss or damage to the works in progress, including partially completed structures.
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Building materials and supplies on site, and often materials in transit to the site.
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Temporary structures such as scaffolding or site fencing are used while work is underway.
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Accidental events like fire, storm damage, flood, theft and vandalism during the construction period.
Cover may be arranged on a single-project basis (for one specific build) or on an annual policy covering multiple projects within agreed parameters.
Why It Matters for Your Business
Without contract works insurance, your business – and your lenders or clients – can be exposed to significant risk if an insured event damages the project under construction. A well-structured policy protects the value of your investment and helps ensure your build stays on track, even when the unexpected occurs.
Getting the right advice means you’re not overpaying for unnecessary cover while ensuring your business is protected in the event of the unexpected. Our clients trust us to be there when it matters most – that means clear guidance when you set up your cover and hands-on support if you ever need to claim.
Business Insurance
FAQs
There is no cost for our advice. If you take out a policy, the insurer pays us directly.
We cover the key areas of business protection – business assets and tools, vehicles, business liability and interruption, contract works, and marine insurance.
Our life and living insurance team can also help you with life insurance, health insurance, trauma cover, income protection, and ACC Extra.
Our business insurance advisers understand what it takes to run a business. We work with owners across a wide range of industries, taking the time to understand your business structure, risks, and key people.
By getting to know you and your business, we can recommend tailored insurance solutions that protect what matters most, support continuity, and align with your broader financial goals – helping you make informed decisions with confidence.
Yes. We’ll review your existing business insurance cover, spot any gaps or overlaps, and ensure it meets your current needs. There’s no pressure to change anything – just straightforward advice on where you stand.
Finsol business insurance advisers provide independent, expert advice tailored to your business. Unlike going directly to a single insurer, we compare policies across multiple providers to find the cover that best meets your unique needs.
Plus, with our ongoing support, you have a trusted adviser in your corner to guide you through claims and any changes to your business insurance requirements.
If you need to make a claim, our dedicated business insurance team manages the entire process for you. We guide you step by step, handle all communication and paperwork with the insurer, and keep you informed throughout, so you can focus on running your business while we handle the claim.
We recommend reviewing your business insurance at least once a year, or whenever something changes in your business. This way, you can be sure your cover still matches your needs.
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