With thousands of construction-related clients Builtin has seen more than our fair share of claims from concrete contractors. Here are a few examples to help explain why liability insurance is so important for them.
Towards the end of 2014 Michael Scott and his wife met with their financial adviser and took out Partners Life cover. Just a few months later Michael noticed a slight tremor in his left hand. As scan confirmed that he had Parkinson’s Disease. At only 50 years old, it was a diagnosis that would change the course of his life.
We often hear from builders who want to make sure they're "covered for everything". Unfortunately, protecting yourself from every possible event is, like life, simply not possible. Like life, insurance is a balance between risk and cost. However, there are some risks...
In February this year the directors of Mainzeal were ordered to pay $36m for breaching their duties under section 135 of the Companies Act because Mainzeal was trading while balance sheet insolvent before it collapsed in 2013. Do you know if your company is solvent? ...
Whether you’re building new or doing an alteration, extension or renovation, your contract will require that contract works insurance is arranged. Even if you don’t have a contract, for example if you’re doing a spec build, building your own house or if the job is...
Have you taken the simple steps needed to protect your identity, email, banking and business data from identity thieves, hackers or ransomware? Scammers are targeting builders because they are more likely to send invoices for large one-off amounts that can be...
It's easy to forget things when you're thinking about Christmas and the holidays, as well as rushing to finish off projects for demanding customers. Here are six things you should remember: 1. Secure your sites before you go (and take your tools with you) They're...
It’s not uncommon for people to confuse these two types of insurance and think that they offer similar cover. They don’t! INCOME PROTECTION Provides regular monthly payments to replace your income if you’re unable to work due to illness or injury. Won’t ACC do that?...
The risk of bad debt is substantial for trade businesses, but not one often considered or well managed. This is especially true for small business owners, who may not have the time or expertise to understand the problem, let alone find solutions. This article has some tips to help reduce bad debt risk in construction.
There are many ways that a construction project can go pear shaped. Unforeseen events can substantially affect the ability of the parties involved to complete it within time and budget. This article explains the insurance options to reduce the risk of such an event taking your business down.
At Builtin we think that the more our clients, and indeed all trade contractors and professionals, understand their cover and how insurance works, particularly when it comes to making a claim, the better their experience of it will be. That’s why we’ve written this...
One of the most common questions we get asked is what insurance a builder (or sparky, plumber, roofer, tiler etc) should have. Everyone wants what we call the “Goldilocks Package”: not too little, not too much, but just the right amount. Here’s what our Goldilocks Insurance Package includes.
