Recent high levels of tools theft have resulted in a substantial increase in insurance claims. 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. What’s...
There are some common issues with contract works insurance that often catch builders out. Find out what they are in our latest article.
Alongside good risk reduction measures there are a number of insurance options you can take to reduce the cost of bad debt. Even the most rigorous and disciplined credit management cannot prevent bad debts, so any business with these exposures should ensure they are protected.
No, it’s not your wagon, it’s you and your ability to earn an income. Here are some facts: 4 out of 10 Kiwi men will be off work for at least 6 months at sometime in their life[1] 90% of disability is due to illness not accident[2] ACC only covers accident, not...
If something goes wrong on site, you may be insured. Which policy applies will depend on what’s happened. Our infographic will help you decide.
Expert advice: getting your commercial motor vehicle insurance right. If there’s one asset a tradesperson will have insured it’s their ute/van/wagon/truck. As an aside, we strongly recommend all builders insure their most important asset: themselves. Loss of earnings...
This does not need to be the case, as there are tools available to reduce your financial exposure when working as a subcontractor. Question: How can tradies protect their retention money? Despite changes to the Construction Contracts Act (CCA), meaning that from 31st...
It’s fair to say that when something goes wrong, how well your insurance responds can be the difference between a good result and a nightmare. Having represented both sides of the equation when it comes to liability claims for builders, Builtin suggests a number of...
In the wake of the Stonewood Homes Christchurch collapse, a specialist trade insurer is urging all building subcontractors to take out insurance to protect themselves from the cost of such an event. Builtin New Zealand, a boutique insurance provider that specialises...
We take the time here to explain some of the most common insurance and guarantee options for builders, and highlight some of the common exclusions.
Sometimes accidents happen on site. If you’re prosecuted, having the right insurance in place could save you thousands of dollars.
Errors & omissions indemnity or professional indemnity insurance (they are the same thing) covers your liability for mistakes you make (or someone acting on your behalf makes) that cause someone else a financial cost.
