Contractors in construction and maintenance need to ensure they check Ts&Cs along with any exclusions before signing up to new insurance policies. Underinsurance could lead to higher costs in the long run.

Rising materials costs and a shortage of affordable, skilled labour are taking their toll. So many construction and maintenance businesses are looking for ways to save money. Although generic policies might be cheaper, they often don’t cover the risks construction and maintenance contractors face in their daily work.

ECIC is one of the specialist underwriters used by our Directors and account executives, who have a long track record of supporting clients in the construction and maintenance industries. ECIC released a statement urging contractors to use brokers with industry-specific experience and expertise to help protect against the risk of an insurance claim not being paid and to provide adequate protection in the event of a claim being made against them.

Common restrictions in insurance coverage that contractors need to check are:

• Height limits
• Depth limits
• Activity restrictions
• Premises restrictions
• Hot work exclusions
• Activity exclusions
• Subcontractors not being covered.

Richard Forrest Smith, CEO of ECIC, said: “While there is specialist cover available online to purchase direct from an insurer, it makes absolute sense to use an insurance broker – they will seek out the cover that’s right for your business and the risks you face. They will ask all the right questions to ensure you buy adequate protection and, most importantly, they will know the claims record for the insurers they work with.

“This is one area where contractors should use expert help and find specialist cover; the risks of not doing so can be far-reaching.”

Need assistance?
Our specialists help clients to set up the appropriate type of insurance, and we also provide a full claims management service. Call us on 01525 719955 or email info@homecountiesinsurance.com and ask for help.

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