Demolition and asbestos insurance

 

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Finding the correct demolition insurance policy is not always straight forward. Recently many insurers have been increasing the amount of exclusions on demolition insurance policies, to avoid larger claims.

As your broker, our job not only is to ensure that you are covered correctly, but also to ensure that as a client, you understand what insurances you require, and what insurances you are most likely to claim on.

We have compiled data regarding what insurances you are likely to claim on, and what the most common causes of these claims are.

Get yourself a demolition insurance quote today, just enter your details below, or call us now on 1300 859 381.

 

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What you need to know about Demolition Insurance

When it comes to demolition and asbestos removal, the top 3 claimed on insurances are Public Liability, Worker’s Compensation and Property Damage.

The majority of demolition companies will employ 20 people or less, have in-house fuel supplies, and will usually have facilities to garage heavy equipment and perform maintenance which can house flammable chemicals and increase risk of fires. So it is crucial to have the correct Demolition insurance policies in place.

Considering visitors aren’t going to be on your premises often, the main public liability exposure will be when you’re out on site. The use of explosives, collapsing of structures and flying debris are all main claim occurrences of demolition. While bodily injury, contaminated material within the vicinity of the site is a main contributor. So making sure you have the correct public liability insurance policy in place is essential.

The following covers are available to demolition companies: Property damage, business interruption, theft, goods in transit, equipment breakdown, commercial motor, public liability, products liability, professional indemnity, management liability, employer liability / workers compensation, cyber risks and so on. Contact our team on 1300 859 381 for a quote today.

We can offer a variety of different policies to Demolition contractors:

– $5 Million Public Liability Insurance

– $10 Million Public Liability Insurance

– $20 Million Public Liability Insurance

We can offer higher limits if requested.

– Insuring work in the CBD, or inner-city if requested.

– Coverage for up to 20 metres high, we can offer higher limits if requested.

– Insurance for Demolition contractors working in Residential, Commercial, and Industrial situations, if requested.

Our team have years of experience helping Australian Demolition contractors find the right insurance policy to suit their needs. Granted, we understand that every scaffolding company is different, and each operate their business in different ways. Given that, as brokers we will need to collect certain business details from you in order to provide you with a quote.

What you need to know about Claims

We will often engage in negotiation with insurers on your behalf when handling your claims. Because as your broker, our job is not only to handle your claims, but also to negotiate claims with insurers on your behalf, to ensure that you get a fair outcome.

However, please ensure that all of the information you provide to us while handling your claim is true and correct, as inconsistencies in claims details can severely lengthen the claims process.

What you need to do when you may have a potential Claim

In any case, when a claim occurs, the first thing you should do is get in contact with us as soon as feasibly possible. You can reach our team via email at office@fortuneinsurancebrokers.com or alternatively you can call our team from Monday to Friday during business hours on 1300 859 381.

It is important also to review your policy’s Product Disclosure Statement (commonly referred to as a PDS) which will be attached to your policy documents. As brokers, we understand that these documents can often be ignored. However in the event of a claim, it is critical to review these documents to ensure that you follow the instructions from your insurer, the minimise chances of miscommunication or error in the event of a potential claim.