What is liability and professional indemnity insurance for Construction Project Management?*
Construction Project Managers require suitable liability and professional indemnity insurance that provides cover for professional indemnity and public liability risks related to construction project management.
For example, liability and professional indemnity insurance for Construction Project Managers may include losses arising out of acts, errors and omissions from construction project management services provided such as screening, selection, specification and supervision of trades and building materials *:
Why do Construction Project Managers need liability and professional indemnity insurance?*
Construction Project Managers need liability and professional indemnity insurance to cover for business risks such as incorrect advice, legal claims against you for the provision of project management services and failure to perform essential trades and building materials related checks.
Suitable liability and professional indemnity insurance may provide Construction Project Managers with cover for the following claims:
- civil liability
- contractual liabilities
- libel and slander
- unintentional infringement for intellectual property
- claims preparation
- Breach of confidentiality
- public liability
- claims investigations costs
- employee dishonesty
- care, custody and control extensions
- cross liability
- indemnity to others
Note that Construction Project Managers can be held liable for the advice or the services they perform that may cause financial loss to a third party. As a result Construction Project Managers need professional indemnity insurance.
Furthermore, Public Liability insurance is a core cover for all Australian businesses - including for Construction Project Managers - to cover you against damage to a third person or their property.
If you are a Construction Project Manager looking for business and professional indemnity insurance please 1300 542 573 to TALK to a SMART business insurance broker about a suitable policy at an affordable cost for your business.
How much does Construction Project Management insurance cost?*
For many self-employed Construction Project Managers a $1million professional indemnity insurance policy starts from $1780.
Construction Project Managers business insurance cost: from $2180 for combined cover of $1 million professional indemnity PLUS $5 million public liability insurance.
Please note : pricing may vary significantly from the above based on your size, clients, experience and specific construction project management business activities. Construction Managers working on large commercial projects, for councils and government typically represent greater risk; require greater limits and higher premiums.
For Construction Management professional indemnity and public liability insurance cost for your business TALK to a SMART Business Insurance broker on 1300 542 573.
How do I get a Construction Management Insurance quote?*
Depending on the nature of your Construction Project Management activities, the size of your projects, the size and type of clients you service and whether you are a sole trader, or employ staff or sub-contractors, different insurance companies and underwriters are likely to provide suitable and affordable cover.
For a suitable and affordable business and professional indemnity Construction Project Management insurance quote TALK to a SMART Business Insurance broker on 1300 542 573 or contact online.
*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a SMART insurance broker on 1300 542 573 for more information.