Owner Builder & Single Project
Contract Works Insurance.
Fast, project-specific insurance for owner builders, renovators, and one-off developments. We cover the build, the materials, and your liability.
Recognition
Access to Australia's leading construction insurers and underwriting agencies, including.
THE QUICK DEFINITION
What Is Single Project Contract Works Insurance?
Single Project Contract Works Insurance is designed to cover physical loss or damage to a construction project, together with Public Liability, for one defined site and period of works.
Unlike annual policies, it applies only to the nominated project and typically runs from policy inception during construction through to practical completion, as defined by the policy terms.
Widely used for:
Owner Builders
Managing their own residential build.
Renovations
Extensions involving structural works.
Small Developers
Completing a one-off project such as a duplex or townhouse.
RISK WARNING
Why Is This Cover Important?
Many people assume their existing Home & Contents insurance will continue to protect them. In practice, this is often not the case.
Once significant construction begins (particularly where there are structural changes, roof removal, or a material increase in project value), most home policies apply exclusions or limitations that remove cover during the build.
Damage to the Works
Events such as fire, storm, theft, or vandalism can result in substantial financial loss if materials or partially completed works need to be rebuilt.
Exposure of Existing Structures
During renovations, the original building is often left exposed. Existing Structures cover can be arranged to help protect the pre-existing property while works are underway.
Public Liability Exposure
Construction sites present increased risk. If a third party is injured or property is damaged in connection with the works, you may be personally liable.
What Is Typically Covered?
At Tank Insurance, we arrange cover through established Australian insurers and underwriting agencies, selecting terms that suit the specific risks of your project.
Material Damage
Loss or damage to contract works caused by insured events such as fire, storm, theft, vandalism, and malicious damage. Some perils, including flood, are subject to insurer acceptance.
Public Liability
Cover for legal liability to third parties for personal injury or property damage arising out of the insured works, commonly available with limits of $5M, $10M, or $20M.
Removal of Debris
Costs associated with clearing insured debris following a claimable event, usually within policy sub-limits.
Professional Fees
Reasonable architects’, engineers’, or surveyors’ fees required to reinstate insured damage, where covered under the policy.
Existing Structures
Cover for the existing home or building during renovations. Standard policies often exclude this, leaving your primary asset exposed during the build.
Tools & Equipment
Coverage for plant, machinery, and tools left on site or in transit. Essential if you own expensive equipment that stays at the project.
Maintenance Period
Extended cover for loss or damage occurring during the defects liability or maintenance period after practical completion.
Availability and scope of cover are subject to specific policy terms, conditions, limits, and exclusions. Please refer to the Product Disclosure Statement (PDS) or policy wording.
PRICING
How Much Does Owner Builder Contract Works Insurance Cost?
Premiums are calculated based on specific risk factors. Understanding these can help you estimate your budget.
Total Project Value
Materials, labour & profit.
Location & Type
Construction method & postcode.
Duration of Works
How long the policy needs to run.
Site Risks
Site conditions & surrounding exposures.
Smaller renovations
Often priced based on the limited scope of works and liability exposure to existing property.
New home builds
Typically rated as a percentage of the declared construction value (the higher the value, the higher the base premium).
Higher-risk projects
Such as those in bushfire-prone areas or involving complex engineering, may attract additional underwriting considerations and loading.
THE BROKER ADVANTAGE
Why Arrange Your Policy Through Tank?
Construction projects move quickly. You don't have time for slow admin, call centres, or policies that don't payout when you need them.
At Tank Insurance, we leverage the buying power of a national network to negotiate better terms, and we provide the personal advocacy you need to get claims paid fast.
Frequently Asked Questions
Ready to Get Started?
If you are planning a build, renovation, or single development and need Contract Works Insurance arranged efficiently, speak with Tank Insurance today.
Get a quote or talk to a specialist before you start building.