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“We’re going to issue your insurance policy for this project, and here’s the cover you can expect.”
It’s not the final policy, but it gives the main contractor or client the peace of mind that cover is on the way - so you can start work on site without delays.
There is not charge against the actual letter of intent. You do however need to follow through with taking up the cover if you are awarded the Tender.
How Construction Insurance Pricing Works
We Can't Quote a Bridge, Like a Boundary Wall
Some cover is straight forward and ready to go but high risk and technical setups need proper assessment before insurers can put a number to it.
It is easy to get a cheap insurance quote – but there’s always a trade-off.
Insurers can drop the premium by increasing your excess, stripping out key parts of your cover through limitations, or adding conditions that are difficult to meet.
The details in the wording can be the difference between a paid claim and a rejected one. Without the correct advice, Most constructrion companies only find that out when it’s too late.
We’re here to help you understand and clear up misunderstandings
Insurance Is a Technical Game - and Not Always a Fair One
Insurers are known for finding ways to reduce payouts or delay claims. Over the years, we’ve seen how things play out – both when claims go smoothly. and when they don’t.
CivilSure’s experience matters.
We know how to read the fine print, challange decisions, and fight for what’s fair. In an industry where the rules aren’t always in your favour, having someone on your side who knows how it really works can make all the difference.
How Contractors All Risk Pricing Works
How Contractors All Risk Pricing Works
Here’s what affects the cost:
Type of work – Simple jobs like boundary walls carry less risk than bridges, basements, or earthworks.
Site location – Building near the coast? In a built-up area? On a steep slope? These all change the risk.
Materials used – Some materials (like timber frames or alternative building methods) may be riskier than others.
Duration of the contract – The longer the job, the longer the exposure.
Your claims history – Even if you didn’t claim, insurers will consider incidents you’ve had on past jobs.
Ground conditions – Unstable soil, high water tables, or rock excavation increase the risk of delays or damage.
How Plant All Risk Pricing Works
How Plant All Risk Pricing Works
What affects your rate:
Where the plant is operated – Is it only used on-site, or does it travel on public roads too? More exposure = more risk.
What the plant is doing – A grader working on clean roads is less risky than a machine digging trenches in water-logged clay.
Operating conditions – Sand, salt, and dust-heavy environments increase wear and tear.
Claims history – Even if you’ve repaired damage out of pocket, insurers look at your past incidents.
How your plant is insured – The value basis makes a big difference:
New replacement value – Costs more, but pays out enough to buy a brand-new machine.
Market value – Cheaper, but pays out based on depreciation.
Agreed value – You and the insurer agree on a fixed value upfront.
Retail value – Based on book pricing; may not match what you actually paid or need.
How Do Insurers Price Performance Guarantees (and Other Guarantees)?
How Contractors All Risk Pricing Works
Can this contractor finish the job — properly, on time, and without running into financial trouble?
That’s because a guarantee isn’t just a document. It’s a risk — for both you and the insurer.
The premium is usually charged as a percentage of the guarantee amount (not the full contract value), typically ranging from 1% to 3.5%, paid upfront. The final price depends on a few key factors.
What Affects the Cost of a Guarantee?
The guarantee amount – Usually around 10% of the contract value.
Your financial strength – Strong books and a solid track record lower your risk (and your premium).
Project risk – Bigger, longer, or technically complex projects carry more risk.
The type of work, location, and duration – All impact the likelihood of problems or delays.
Collateral – Some insurers may ask for security, ranging from 0% to 30% of the guarantee value depending on your profile.
Not sure what cover you need?
Got the job? Send us your Letter of Award and Contract – we’ll check exactly what cover you need.
Rather safe now than stuck later.
Don’t assume your current Contractors All Risk policy fits this project.
Every site is different – let’s double-check it’s right before you break ground.
Upload your documents now and we’ll take a look.
Before you run with that quote, take a minute to check the fine print.
Whether it’s an online estimate or a custom quote from the insurer, there are a few key things to look out for.
We’ve seen where things go wrong, so we’ve laid out what to watch for – upfront. No surprises later.
Include Insurance In Your Pricing Now
Try Our Risk Estimate Calculators to Get A Quick Idea of Premium Costings - Then We'll Guide You From There
Online Calculators
Fill in the Form. Get Covered. Simple as That.
You can also add cover for site liability in case something goes wrong while using this equipment.
There are also a lot of extensions - the most important being Plant Hired In.
What does it cover?
At its core, it includes:
All Risks cover protects your job against most types of damage — unless it’s something the policy clearly says it doesn’t cover. It only applies while construction is still in progress, and ends at beneficial occupation or practical completion; whichever comes first.
The policy caters for the following parties: The employer, the main contractor and sub-contractors. No professionals are included.
Public liability – if someone gets hurt or property gets damaged because of your work
Optional add-ons – cover for your tools, equipment, and plant (owned or hired in)
For a more detailed breakdown of the different guarantees, see our products page.
These Quotes Need To Be Customized
PI is cover against claims that arise when a professional makes a mistake, either through errors, omisions or miscalculations.
D&CI covers financial losses to clients resulting from errors, omissions or negligence in the design and construct phase of a project. This is not specifically designed for professionals - a builder can use this cover, especially when giving advice on complex builds, to clients.
Rest assured: all information you provide is kept strictly confidential and used only for the purpose of preparing your quote. And remember – your quote is 100% free and comes with no obligation to proceed.
