Construction & Plant Hire Insurance

Construction & Plant Hire Insurance

FROM MAJOR PROPERTY DEVELOPERS TO LOCAL BUILDING & CONSTRUCTION FIRMS, WE HAVE YOU COVERED

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SHORT TERM PLANT HIRE INSURANCE

VISIT HIRESHIELD
Hireshield Website

The construction industry demands bespoke solutions and specialist advice and we are a marketing leading provider to both contractors and sub-contractors.

Every client’s requirements are different, from single to multi-site projects, building homes to commercial properties, roads to bridges, working at height or bored pile construction whatever developments you undertake, you need the support of an insurance expert.  

Our brokers have required knowledge; following identification of your risks, we will search the market to negotiate a programme of covers specifically designed to mitigate your exposures.  We will provide ongoing monitoring as your projects develop; continually identifying and protecting against emerging risks.

INSURANCE COVERS

The covers we provide for construction companies include (but are not limited to):

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PUBLIC LIABILITY INSURANCE

Construction is a hazardous industry, making liability cover vital to those involved. Public liability insurance will protect you against claims or proceedings for personal injury or death of third parties arising from undertaking construction works.

Construction contracts usually include a clause which requires a contractor to carry public liability insurance.

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EMPLOYERS LIABILITY INSURANCE

If you employ one or more people you are legally required to have Employees Liability Insurance. Employee liability insurance will protect you against the cost of compensation arising from an employee’s illness or injury, sustained as a result of their work for you.

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CONTRACTORS ALL RISKS

Contractors All Risks insurance is a property-based contract with certain extensions providing cover to meet your contractual obligations. Various covers are available under this heading:

  • From the moment that a contract is awarded there will be an exposure in respect of the Works especially relative to unfixed materials on site. Policies can be arranged to provide cover for the Works as they progress and up to the date of Practical Completion. The policies can be further extended to provide ongoing protection during the appropriate maintenance period.
    Most wordings can also include the completed properties if required and if built on a speculative basis subject to certain timescales and agreement.
    Policies traditionally include storage on site and in transit for unfixed materials. Policies can also be extended on request to include storage of such materials destined for inclusion in the Works whilst off site.
  • See plant hire section below
  • See plant hire section below
  • Whilst not compulsory many employers decide to include an element of cover for their Employees Tools whilst on site. This can be provided upon request.
  • These policies can be extended to provide property insurance for temporary buildings such as site huts and containers as well as show homes and also the contents thereof.
  • Whilst not widely purchased it is important to appreciate that cover is available to provide protection for future loss of income or expenses following an insured loss to the Contract Works. This can be significant if a major loss occurs towards the end of the contract with exposures including future expected rental income, continuing interest payment and the like.
    We have experience of placing these covers in the market and would be happy to advise and discuss if appropriate.
  • Becoming more common is the choice to insure larger one-off contracts on a specific project policy. This provides cover for all parties included in the contract for Public Liability, Non-Negligence and Works. These policies avoid the possible issues that otherwise exist with differing sub-contractor insurance levels and confusion over where liability rests between main contractor and the various sub-contractors.On larger contracts this can be a more competitive and comprehensive way of providing the insurance.
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PROFESSIONAL INDEMNITY INSURANCE

Everyone makes mistakes. If a builder makes an error, omits to complete something as part of the construction process or breaches regulation it could result in financial losses for a client, personal injury or even death.   The individual may then face claims of professional negligence and may have to pay compensation. Professional Indemnity cover will help cover the costs of defending a claim and provide a financial pay-out should the claim prove successful.

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STRUCTURAL WARRANTY

Historically Structural or Residential Warranties have been provided solely by NHBC.

In more recent years the market has expanded, and we are able to access all of the potential markets including NHBC. Most contractors will only have access to a single market.

This enables us to review the possible alternatives and thereby providing the most competitive option depending upon the actual contract being undertaken and your needs in terms of cover.

If you are involved in any form of new house building or conversion to residential then you will have need of this service and will be pleased to discuss and advise as required.

PLANT HIRE

HIRESHIELD INSURANCE SOLUTIONS

Hireshield is a long-established scheme aimed specifically at Companies in the Tool, Plant, Crane Hire and Traffic Management sectors.

The products offered under the scheme are underwritten by a carefully selected panel of insurers, based on their financial strength, policy cover and ability to provide a first-class service to clients.

Learn more about the products offered under the scheme below or download our brochure here.

LOOKING FOR SHORT TERM HIRE INSURANCE?
Hireshield Website
VISIT OUR ONLINE FACILITY HERE

Flexible tailor-made protection for plant hirers, designed to meet the needs of your business and offering competitive terms and premiums.

Policy sections include:

  • Material damage
  • Business interruption
  • ‘All risks’ cover – on specified items
  • Money
  • Personal accident
  • Goods in transit
  • Legal expenses
  • Terrorism

 

APPLY FOR A QUOTE

To apply for a quote, please leave your details below and a member of our team will be in touch shortly.

*Required fields

Cover for plant and equipment on an All Risks basis whilst anywhere in the UK. Includes cover whilst in your premises, in transit and out on hire.

Cover is arranged on a blanket basis for owned and hired in plant and includes the following.

  • Comprehensive ‘All Risks’ cover
  • Warranty free
  • Subrogation waiver extension
  • Demonstration Equipment Cover
  • Reinstatement of plant for equipment up to 24 months old
  • Third party machinery movement cover
  • Lifting risks cover- crane hire
  • Profit rebate clause
  • Continuing Hire Charges
  • Low excess levels
  • Access to Hireshield Short Term

 

APPLY FOR A QUOTE

To apply for a quote, please leave your details below and a member of our team will be in touch shortly.

*Required fields

The Hireshield short terms facility is exclusive to Tysers clients. The facility responds to the needs of our hire company clients who wish to provide the hirer access to a one-off short-term insurance solution which will meet the requirement of their hire conditions.

Quotations and cover can be provided at the point of sale, Hireshield avoids the need for form filling and cover is immediate.

Cover is available through an online fully transactional website www.hireshield.co.uk

The main benefits to you and your customers are:

  • Online quotes & instant cover
  • Policy in joint names of hire company & hirer
  • ‘All Risks’ cover anywhere in the UK
  • Competitive pricing
  • Sliding scale excesses
  • Warranty free basis
  • Easy to use website with UK site map of available Hire
  • Companies with potential additional revenue

 

VISIT OUR SHORT-TERM HIRE FACILITY HERE

Our broker has arranged all aspects of our insurances for over 6 years and we have always been happy with the service.

Their communication is excellent, and they have always taken the time to highlight some of the conditions in our Contractors Policy in particular, which if not adhered to, have the potential to effect claims. We appreciate their direct, straightforward yet professional approach.

They have become our valued business partner.”

DIRECTOR, SPORTS SURFACES CONSTRUCTION COMPANY, WEST YORKSHIRE

We appointed our broker about 4 years ago when they competed for our business and were able to save on our premium. However, we are not just interested in money and the advice we have received from them has been invaluable, they have consistently challenged and reviewed our insurance programme to ensure it remains fit for purpose. We were exhibiting when we had an accident with the gazebo causing damage to surrounding exhibitors. The in-house claims department sorted all aspects of the claim out without us even having to chase for information.

Our business has recently expanded, and our insurances have had to evolve as our requirements have changed.

We have always found them professional and consider them an important business partner.”

DIRECTOR, SPECIALIST CNC ENGINEERING COMPANY, LANCASHIRE