Last updated 1 day 15 hours ago
So you’ve run building sites before, for many years perhaps, and nothing’s ever gone wrong. Then, you hit the end of the month and your insurance bill’s come in. You wonder why you bother paying that money when you’ve never had a problem. It’s not just your bottom line you need to consider when you weigh up the your insurance policy, your employee satisfaction can change and in the event of an accident you’ll find yourself much deeper in debt than you even imagined.
Would you want to work on an unsafe worksite? Many builders think “my work site is safe” but it doesn’t matter if it’s safe or not, an uninsured work site is an accident waiting to happen. Workers who aren’t looking after the books might not want to work somewhere where being injured is a bigger risk than the physical harm themselves.
What if something does go wrong? Any injury which occurs and needs hospital treatment will now be your responsibility. Insurance companies work on the fact that less accidents occur across the board, but if you’re the unlucky one you benefit from the others who are all hoping it doesn’t happen to them. Remove the safety net of insurance and you’ll foot the entire bill yourself.
So don’t be too swept away by a few dollars saved, think about the pictures, and talk to your local building insurer today. No one can predict accidents, but you can help prevent the consequences.
For specialised insurance policies developed for owner builders, call 03 9998 2113 and speak to the experienced team at BuildSafe.
Last updated 3 days ago
If you are working in a dangerous environment, insurance is absolutely necessary to protect yourself and your employees in the case of an accident. Building insurance is extremely necessary because of the inherent risks of working with power tools and other heavy materials, but how do we get past all the legal mumbo jumbo? While your local insurance salesperson should be able to help you out, here’s a helpful insight into ‘limit of indemnity’, one of the cornerstones of insurance policies.
The limit of indemnity is the largest amount your insurer will pay out in the case of an accident. This may be a limit per claim, an annual maximum or a combination of the two. By understanding the term you can better assess the possibilities of insurance and the risk involved with certain jobs. Keeping the possibility of accident, and the insured amount, in mind will allow you to correctly plan the work on your project, while keeping safety in the upmost importance.
A products liability or Professional indemnity policy may allow a certain amount per accident, with no maximum amount of claims over the insured period, however an aggregate policy works on overall payouts and allows insurers to cap the amount of payouts they give over a predetermined insurance period.
It’s very important that you choose the right insurance for your site, so please see your local professional today. It is better to know and be safe, than risk the safety of your employees.
For specialised insurance policies developed for owner builders, call 03 9998 2113 and speak to the experienced team at BuildSafe.
Last updated 3 days ago
You might be working on a commercial building site, or even just working on your own house, but there are always possibilities for injuries. Aside from purchasing adequate insurance cover, you should be aware of the most common injuries on a site so you can avoid them.
It’s fairly obvious that working with heights is going to have some risk. If you’re on top of a ladder which hasn’t been secured to the next level, the whole thing might tip back and cause you some great damage after you hit the ground. In a similar way, carrying items that are too heavy can cause a similar accident. Beyond the ladder, working at great heights, like multiple floors mid-completion can be risky because of the drop. Roofers are obviously at the greatest risk, but anyone working on scaffolding is in a similar position.
Machinery is used for good reason – it gets the job done in half the time or even less – but the power that causes it to be a useful tool also leads to potential accidents. All workers should be properly trained in any piece of machinery they are to use.
The final common accident is not unique to building sites, but is heightened by the nature of the job. Trips and slips on tools, cables, pipes, planks, or water – these will be costly to your insurance company and to your project. Try to keep the site free of debris to ensure a safe environment.
Of course, accidents do happen, so make sure that you are adequately covered by building site insurance just in case! For specialised insurance policies developed for owner builders, call 03 9998 2113 and speak to the experienced team at BuildSafe.
Last updated 3 days ago
Insurance should not be considered an optional extra when building a home, as there are many potential hazards that could end up costing you dearly. Taking an owner builder course will inform you about the types of builder insurance available, and why these are so essential for your project.
Importance of Builder Insurance
A standard home insurance policy will not typically cover accidents and losses that occur during the construction stage, especially as buildings are much more vulnerable prior to completion. Builder insurance is tailored especially for the needs of builders and owner builders, and will usually cover your building materials and the structure of the building against damage from the elements, including fire, storms and wind damage, as well as theft and vandalism. Some policies also cover building tools and may cover the cost of any demolition that needs to be carried out.
Public Liability Insurance
It's likely that many people will visit your construction site during the time involved in bringing projects to completion, so you need to make sure you have adequate insurance in place to cover accidents or injuries to people on your site. Without public liability insurance, you could face expensive legal costs if someone presses charges against you for injuries sustained.
Owner Builder Insurance Victoria
Ensure you are fully covered when undertaking renovations or construction to your home. Find out more about the insurance options open to you at BuildSafe, experts in protecting owners builders, by calling 03 9998 2113 today!
Last updated 29 days ago
Homebuilders are always looking for ways of getting more and paying less. The prospect of becoming an Owner Builder is an appealing one as you will save money and also avoid the fear of being ripped off by tradespeople. However, this will also require a certain level of commitment and responsibility, in addition to some general building knowledge which may not suit everyone looking to build or renovate their home. If you decide that full on Owner Building is not for you, you may want to find out about other cost-effective options which are available and which will suit your experience time availability and willingness to learn new skills.
One option which may not be discussed when you make your first forays into the possibility of Owner Building is Lockup building. You may not realise that the building process can be split into distinct sections. If you have commissioned an architect or designer to create the plans for you, you can tender out the works until lock-up stage. By having a registered builder do the first stage of construction under contract and complete all the major works the project will be covered by the full 6 years of builder’s warranty. At lock up stage the project can then be handed over to yourself as an Owner Builder and you can make substantial savings organising the fit-out. You can arrange the light fittings, kitchen, bathrooms, floor & window coverings and colour scheme and with no builders margins tacked onto the price you will see a dramatic reduction in cost. If you are a good shopper many bargains are available by checking out sales and auctions. So, if you want to make savings but are wary of the responsibilities of Owner Building look into the option of a reputable lock up program and you can enjoy the benefits of choice, control and cost reduction with less of the pressures and responsibilities that can come with being an Owner Builder.
Owner Builder Insurance Victoria
Ensure you are fully covered when undertaking renovations or construction to your home. Find out more about the insurance options open to you at BuildSafe, experts in protecting owners builders, by calling 03 9998 2113 today!
