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Insurance for Builders

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Your Peace of Mind

When a builder buys insurance, they are buying a peace of mind. A peace of mind that should a claim arise their liabilities and assets are protected. It's as simple as that.

So what are the key risks?

Building involves a lot of stakeholders like, developers, design consultants, trades, local authorities, manufacturers, suppliers and so on. Some of the site conditions can be very challenging and involve a lot of risk. When something happens, are lot of people are affected.

Builders can be quite frustrated dealing with changes to scope, specifications, government directives and complex project management issues whilst expected to protect their margins that moves from month to month. Whilst many may succeed with reward for effort, some are lucky to break even by the end of the project. Others are better off doing something else.

Risk increases when there are poorly written contracts and lack of proper procedures to administer contract terms. Bad communication and workflows systems between site and office teams to monitor safety and quality can lead to catastrophic consequences. Material and labour shortages can compromise quality with the threat of extreme, unforeseen weather events that can cause significant damage or delays. What's more, cybercrime is now a real and present threat, most especially to those construction businesses which often use insecure connections from mobile workplaces, sharing files and data with stakeholders outside the business. Most at risk are those builders who do not have a good construction software to manage all their information and data.

Protection, Strength & Service

Protection:

When you're working on a construction site, a lot of things can go wrong. Damage to a building could cost builders more time, money and even their reputation. On-site injuries may result in considerable pain, stress and significant financial loss.

That's why having the right type of insurance is an important part of your protection allowing you to get on with the job with a peace of mind.

Strength:

Silverback Insurance is all about strength in the selection of the right insurance cover solutions. We offer a comprehensive range of insurance product options for you to select from. We will make sure to take care of your business insurance needs through insurance reviews and consultation to give you a better understanding of the kind of risks you can be protected from.

Management Liability Insurance

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

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Business Insurance

A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

Details Get Quote

Business Package

Purchase up to six products under one Business Insurance Package.

Details Get a quote!

Service:

Silverback Insurance provides professional insurance services that goes the extra mile. We take the stress out of life by helping you select the most appropriate insurance cover options for your business. Our advise will help you identify, assess and manage your risks in the most effective way.

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General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Petara Tanuvasa, Silverback Insurance Pty Ltd, ABN 74 643 561 746

This article originally appeared on and has been published here with permission.