Builtin’s 8 tips on getting your commercial vehicle insurance right
If there’s one asset a tradie will have insured it’s their ute/van/wagon/truck. This article lists 8 tips to help ensure you have the right cover and are getting the best value from your policy.
read moreWill 10 year builders warranty insurance soon be compulsory?
Once again MBIE is looking into the feasibility of making it compulsory for builders to take out insurance. Insurance to protect homeowners that is. This approach is common in Australia, where individual states require builders to be licensed and take out insurance...
read moreShould builders insure their tools?
Tools theft is rife around the country at the moment and if it hasn’t happened to you yet you’ve probably at least heard of it happening to someone you know. We’re urging all tradies to take extra precautions when on site and to ensure your tools are securely locked away, ideally out of sight from the road at night.
read moreHow recent changes to the Construction Contracts Act affect your retentions
New rules for protecting retention money came into effect on the 31st of March 2017. These require developers and head contractors to hold “on trust” any retention money they’ve withheld from their subcontractors. This on trust obligation, which applies to all...
read moreA reminder about the key issues with construction/contract works insurance
Construction (contract works) insurance is a contractual requirement for most building projects. Here are some of the most important things to be aware of when it comes to contract works insurance.
read morePitfalls in contract works insurance – three important issues that affect your cover
As with any contract of insurance, the devil is in the detail and it’s important you read and understand the terms & conditions contained within it. Below are three things you may not be aware of that could affect your cover. Cessation of Work Most policies...
read moreRisk Management & Insurance Basics for Tradies
Running any kind of business involves a certain degree of risk, and building trades are no exception. Indeed, tradies face additional responsibilities placed on them by the Building Act, such as disclosure requirements, mandatory contract terms and implied warranties....
read moreRansomware attacks an increasing threat to Kiwi trade businesses
Attacks on small business have skyrocketed in the last 12 months, as hackers target poorly protected systems for ransom.
read moreA better way to manage retentions – with a retention bond
From the 31st of March 2017 retention money withheld by a principal or contractor must be held “on trust” until being released to the subcontractor. Retention bonds offer many benefits for principals, contractors & subcontractors, including improved cashflow and no onerous “on trust” obligations.
read moreNatural disasters & insurance – a timely reminder for builders
A number of issues with contract works insurance arose following the Christchurch earthquakes. These are worth highlighting again now.
read moreWho should arrange contract works insurance?
Whose responsibility it is to arrange construction insurance depends on a number of factors. This 1 minute video and short blog explain it simply.
read moreWhat responsibility do builders have for faulty products?
The Building Act imposes a number of “implied warranty” obligations on builders. This means builders automatically provide these warranties to their clients when doing any residential building work.
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