Insurance for Builders
Prepare for the unexpected with business insurance.
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On this page:
What is builders’ insurance?
Business insurance helps builders protect their growing businesses. Depending on the types cover you choose, it could help manage claims costs like client property damage, a third-party injury, design defects, and stolen or damaged tools.
Situations like these (and many others) could create unplanned expenses for your business. If paying legal costs out of pocket for investigating, defending, and settling claims would rock the foundations of your business, it may be time to consider business insurance to protect your business and your reputation.
Why might builders need insurance?
Business insurance isn’t mandatory in NZ for most businesses, but as part of the New Zealand New Building Act builders are required to declare details of the insurance they hold to their customers.
You may be required to have a policy to do things like:
Enter a jobsite.
Pay legal costs if you face a claim.
Work as a contractor or subcontractor
Lease a worksite
Types of builders we cover
We cover a range of builder occupations including:
House Construction
House Alteration
House Renovation
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Types of cover we offer builders
BizCover has insurance options for builders
Tailor your quote to suit the needs your business, compare cover, and buy online in minutes.
Popular cover types for Builders
Builders could also consider:
Other Covers
Portable Equipment
Tool & Portable Equipment Insurance
Covers costs of repairing or replacing your portable tools, equipment, and stock against:
- Theft
- Fire
- Accidental or malicious damage
Employers Liability
Employers Liability Insurance
Covers you against claims related to employee workplace injuries (when not covered by ACC) including costs such as:
- Legal and defence
- Compensation costs
- Contract works
- Professional Indemnity
How much does builder insurance cost?
Your small business is unique. That means you might face different risks than other businesses and may pay a different price for your cover.
With BizCover, insurance can be tailored to fit the size, risks, and needs of your business.
The prices are real, get that new policy feel
Public Liability
$26.83/mo*
Expected average cost
Statutory Liability
$16.95/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply
Get cover that works with the risks of your business
Select different cover amounts for each policy listed below.
This is the most you will be paid out if you need to make a claim.
Unsure how much to choose? Think about:
Statutory Profession Requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Public Liability
$26.83/mo*
Expected average cost small businesses to pay
Statutory Liability
$16.95/mo*
Expected average cost small businesses to pay
Factors influencing cost
Your Industry
Required Coverage
Your Turnover
Number of Emplyees
Claims History
Click here to check industry wise average prices
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Get cover that works with the risks of your business
This is the most you will be paid out if you need to make a claim.
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How it works – buying online
5 easy steps to get instant cover online today.
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Enter Business
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How it works – making a claim
We’ll assist you through the claims process & manage your claim directly with the insurer.
Let us know Fill out our claims form and provide info to support the claim
Receive extra support We will assist you with your claim
Claim results We will notify you of the claim outcome.
Let us know Fill out our claims form and provide info to spport the claim
Receive extra support We will assist you with your claim
Claims results We will notify you of the claim outcome
Our Insurers
We work with a selected group of trusted NZ insurers to offer you great cover.
The savings are real
See how much others have saved while purchasing policy through Bizcover
Martin
Gardener from
Christchurch
Saved
$2,000
on
Public Liability, Statutory Liability
& Employers Liability
Vicki
Management Consultant
from Napier
Saved
$1,500
on
Professional Indemnity &
Public Liability
Ian
Plumber from
Picton
Saved
$600
on
Public Liability&
Statutory Liability
Yvonne
Councellor from
Rotorua
Saved
$100
on
Public Liability &
Professional Indemnity
^ Savings made from January 2023 to July 2024. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
What sets BizCover apart?
We are not just a comparison and buy site.
Make Claims Online
We’ll manage the process on your behalf with the insurers.
Flexi Payment Options
Pay monthly or annually, cancel at any time.
One Stop Shop
Manage multiple cover types in one place.
Easy Renewals
Optional automatic renewal to stay protected.
Builders claims examples
Could this happen to your business?
Here are some examples of real BizCover customers who had to make a claim.
What went wrong
A builder was grinding steel near their clients’ windows, they covered the windows with fire-rated building wrap, but the wind lifted the wrap resulting in sparks damaging the glass.
Outcome
The builder made a Public Liability claim with their insurer, who assessed the builder had made reasonable steps to avoid the damage, and paid $5,300 to cover the costs of repairing the windows.
What went wrong
A builder was repairing a deck, they poured concrete to secure posts, but the weight of the concrete crushed part of an underground drainage pipe which was not visible. The drainage system later overflowed with greywater.
Outcome
The builder made a Public Liability claim with their insurer who agreed to pay $560 to cover the cost of hiring a plumber to repair the damage.
These builders had both covered their third-party property damage risk with Public Liability insurance, which covered them financially when a situation occurred where they had to make a claim.
The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover.
Frequently asked questions
Generally speaking, there is no mandatory insurance for Builders in New Zealand, but it may be required to get on certain worksites or to get some contracts. It can also provide builders with an additional sense of security by covering their risks.
Working as a builder can carry many similar risks no matter if you work from home, or on a worksite, or a dedicated premises. Builders can tailor a range of business insurance to cover the unique risks of your business.
Cyber Liability insurance protects business owners against the financial impacts of falling victim to a cybercrime. While it is not mandatory, it can help to protect business owners who store sensitive information on digital devices from the legal fees and other associated costs of a cyberattack.
15000+ NZ
small business covered
Hear from our customers
Real-life customer reviews verified by Feefo
Efficient
Trusted Customer
Efficient and great price
Quoted and bought insurance online, very quick and a great price.
Definitely worth
Burnett B
BizCover is definitely worth their word. Quick easy understandable cover
Straight forward
Trusted Customer
It is very straight forward and easy to understand and you can choose whatever you need for your business.
Fast, friendly and efficient
Kylie T
The customer service agent was excellent. He explained to me clearly all the questions I had. Can’t be beat on price for the policy I needed and I was contacted within half an hour of my enquiry. Policy was confirmed on the phone. Excellent.
