Also known as Construction All Risks Insurance, this is used for insuring construction projects against risks during building or renovation work. Whether you need an annual contract works cover across multiple sites or just a single project, cover can include;

• Physical Damage: Loss or damage to the construction project, including materials, equipment, and temporary structures, caused by events like fire, flood, earthquake, vandalism, or accidental damage.
• Cover for the existing structure: Loss to the existing structure as a result of the works being completed.
• Work in Progress: Costs to repair or replace partially completed work damaged by insured events.
• Construction Materials: Damage or theft of materials on-site or in transit to the site.
• Tools and Equipment: Loss or damage to tools, machinery, or plant equipment used on the project, if included in the policy.
• Natural Disasters: Damage from New Zealand-specific risks like earthquakes or storms, often integrated with Earthquake Commission (EQC) coverage for residential projects.

This insurance is applicable to contractors, developers, and property owners looking to protect from financial losses during construction. 

Subject to variations in insurers wording, exclusions and case specific endorsements.