CONSTRUCTION INSURANCE - GRIB

From highways and bridges to sports stadiums and hospitals, we offer customized construction insurance solutions and an unwavering commitment to contractors and businesses in the field of construction.

For Expert Advice. Call Misha.

At GRIB we understand that both the construction and engineering industries are broad and that no two businesses in either industry are the same, which is why we take the time to understand the nature of your work and the specific risks involved.

Whether your business is pre-construction services, demolition, civil engineering, enabling works, formwork, residential property construction, remediation and environmental work, or in the fitting and finishing trades, we provide innovative ways for devising the right insurance programme for your business.

Complemented by our proactive claims management approach, we don't think you'll find a better insurance partner to protect your business.

Products we offer for professionals within the Civil and Construction Industry:

  • Contractors All Risk
  • Plant All Risk
  • Performance Guarantees
  • Retention Guarantees
  • Advanced Payment  Guarantees
  • Ready-Mix fleet cover
  • Professional Indemnity Insurance
  • Directors and Officers Liability Insurance
  • Motor Fleet insurance
  • Proactive claims management service

The world of construction insurance can be confusing.

To make sure you don’t get lost in a minefield of policies
and acronyms we’ve summarised the main types of insurance
you need to be aware of for your development project.

Read on to make sure you know your CAR from your PL and
of course your structural warranty!

1. Public Liability Insurance
What is it?
Public liability (PL) insurance protects against liabilities for injury to third parties (non-employees/sub-contractors) or their property.

Who needs it?
If you work near other people and/or their property, which is basically anyone in construction, you should consider having PL insurance. This will ensure you are covered against any potential claims for damage to the person and/or their property.
2. Products Liability Insurance
What is it?
Products Liability Insurance protects against liability for injury to people or property arising from products sold or supplied through your business.

Who needs it?
Although any products you supply may appear safe, there's always the risk of something going wrong. This can be extremely expensive and even if you're not at fault, you could incur substantial legal costs defending yourself.
3. Employer Liability Insurance
What is it?
Employer Liability (EL) insurance protects against liabilities to employers for injuries or illness.

Who needs it?
The Compensation for Occupational Injuries and Diseases Act of 1993 (formerly known as the Workmen’s Compensation Act) was implemented to protect an employee injured or killed in the line of duty. As with any Act, there are a multitude of provisions and clauses, but the bottom line is that all business owners in South Africa should supplement any compensation provided by the fund, with an effective Employers Liability insurance policy.
4. Contractors All Risks Insurance
What is it?
Contractors All Risks (CAR) insurance protects against physical loss or damage to works and site materials that you were contracted to undertake. These types of losses are normally excluded under a regular Business insurance policy.

How does it work?
CAR insurance provides cover for incidents that occur while working on a contract site. These incidents could range from injury, loss/damage to 3rd parties, loss/damage to the contract works or material to death..

Who needs it?
Employers and contractors.
5. Professional Indemnity Insurance
What is it?
Professional Indemnity insurance protects against claims for financial loss, personal injury and property damages arising from your negligence, errors or omissions while working with clients.

Who needs it?
Anyone who offers services or advice in a specialised field that could be held accountable by law for their advice or service to the general standards of their profession or industry.

FAQs

What you need to know ...
These are just some of the most frequently asked questions we receive about our Construction & Engineering cover.

1Who needs Construction Insurance?
Construction insurance is an essential purchase for any builder, contractor, and construction company or construction manager. Considering the fickle nature of the construction industry, insurance should be comprehensive and cover a multitude of possible problems.The cost of fixing these problems when things go wrong is normally many times higher than the cost of an insurance premium. This is why construction insurance is an essential part of any construction budget.
2What does a Construction Insurance policy typically NOT cover?
The transportation of building materials from warehouse to building site is not normally covered and must often be included as a policy extension. Construction insurance also does not cover any extra costs incurred due to the delayed completion of a project regardless of the reason for the delay.
3Can I get additional cover for a Construction Insurance policy,
In construction, there are numerous sub-contractors that will enter your construction site. How do you know how many are on your site at any one time and if they're the same contractors working from day to day? A standard policy may only cover your immediate workforce and specific contractors. Ensure your policy covers all the people who could potentially enter your site.
4How much does Construction Insurance cost?
Construction insurance is usually a percentage of your total construction budget. The size of the percentage is dependant on the scope of the project. For example: a small house represents a far lower percentage of your total cover than a high rise office block would. The exact percentages are determined by the level of cover you require and the insurer you choose to go with.

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