Insuring your design and construction business
If you work in the demanding field of design and construction, insurance is essential to make sure you’re covered for the unexpected. Planning and coordination are critical, but you can still be taken by surprise, whether it’s contractual disputes with suppliers, legal disagreements with clients or accidents at work. Having the right business insurance means you can focus on your day-to-day business.
Why you need business insurance in the design and construction industry
Injured during a site visit
A fall while visiting a construction site results in a fractured leg for a project director. Specialist surgery means several weeks off work, leaving the business without a key member of the team. Personal accident cover as part of business insurance for design and construction professionals will provide a weekly pay-out to help with expenses so you can focus on getting better.
Delays cause a compensation claim
A design issue on plans for a new house means revisions to groundworks, delaying the project by months. The client blames negligence in drawing up the plans and feasibility studies and claims compensation for the delays. Hiscox professional indemnity cover as part of business insurance is there to handle the legal costs and settlement of the claim.
Damaged laptop delays project
A laptop containing critical project data is damaged after coffee was spilled on it. While the data can be recovered it’s still an unhelpful and time-consuming problem. Office insurance covers the cost of a new laptop and the recovery of the data, keeping delays to a minimum.
If you’re not sure what you need, tell us a little more about your design and construction business. We’ll help you to build your quote and explore any other insurance needs.
Build my cover
Key types of insurance for the design and construction industry
Public liability insurance
Public liability insurance is critical in the design and construction industry. It’s a physical field that deals in site visits, machinery and a lot of potential health hazards. If a member of the public claims they’re injured or their property was damaged due to your products or the actions carried out by an employee, then whether you’re to blame or not, your policy will cover your legal expenses and any compensation. Both public liability and product liability cover will help you with the costs of compensation and the legal expenses of the claims process.
Personal accident insurance
Personal accident insurance ensures that if you’re injured, you fall ill or someone else who’s key to the business can’t work, you’re able to carry on as normal. It might be a matter of a day or two, but if it’s a longer-term issue, personal accident cover provides a lump-sum or weekly pay-outs to help with expenses, as well as providing support with costs for retraining another member of the team if it’s required.
Professional indemnity insurance
Professional indemnity insurance is there to cover the cost of compensation and legal claims against you where a client believes your work is below standard or has caused their business harm. If a client feels that you, an employee or even a volunteer has made a mistake or been negligent with professional advice or a service, it’ll help you to cover your defence costs and any settlement of the claim.
These are just some of the types of business insurance for design and construction firms that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
Get your quote