It doesn’t matter if you are a large contractor, a smaller subcontractor or you run your own small construction business because you always need to make sure that you are following the legal and regulatory needs to be able to operate in this industry. This Australian government takes health and safety very seriously indeed and so it is a requirement that you carry the right kind of construction insurance at all times. They insist on this not only to protect the people who work for you and the various other contractors that may visit your work site but also put it in place to protect you as well.

Any business in the sector cannot afford to not have construction works insurance because it is the one thing that provides them with the essential peace of mind that they need every single day. If you own your own construction business then you know and understand the time and effort that it took to get you to where you are at this point in your life today and it would be a shame to throw it all away because something happened and you didn’t have the right insurance to cover the costs. The following are just some real-life benefits of having the right construction works insurance in place.

  1. You get third-party insurance coverage – It is always your goal to keep everyone safe when they are working on your job site but sometimes no matter what you do, people will get hurt anyway and so this is why you need to have the right kind of insurance in place. This will help to pay for any medical help that they need and any rehabilitation that comes after that as well.
  2. Damage to property is covered – Anything can happen on a construction site and even though the weather forecast says that there will be light rain overnight, flooding can happen if this happens, then all of the equipment that is on the ground that belongs to you and your business may be damaged or even put out of action altogether. Having the right kind of insurance in place covers you for such things.
  3. Injuries to your workers – Even though you are working with professional tradesmen and others all the time, sometimes they can be distracted and they can make mistakes causing them injuries on site. The worst-case scenario is that something might lead to the death of an individual and in this case, you need to have the right kind of work insurance in place or you will be forced to pay compensation from your own pocket and this will likely close down your business altogether.
  4. It covers loss of income – Due to the fact that you are involved in the construction game, you need to make sure that you are covered for any eventuality and so many people have far too much time on their hands here in Australia and so they use that time to go to construction sites and to actually cause damage to the machinery that you have and the work that you have done. When this kind of damage takes place, it may set you back a number of days and you may have to replace expensive machinery like excavators this is a significant amount of money out of pocket if you do not have the right kind of insurance in place.
  5. It provides peace of mind – When you are dealing with a particularly large contract, everything that you have worked hard for up until this point which includes your business is always in jeopardy if things go wrong with this particular job. You as the contractor are liable for anything that goes wrong so having the right kind of insurance in place helps to protect you from all of the common types of damage and injury that might occur, and that gives you peace of mind.

These are just three of the reasons why you would and should always need to have the right kind of insurance in place. As an employer, you need to do whatever you can to reduce your liabilities and to make sure that the right policies are in place to cover your costs. This is the business that you have worked hard to build up and so do whatever is necessary to keep it operational so that you will still be trading and be successful many decades from now.


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