Contracts Works Insurance policies insure that all construction-related activities of a construction project are put into one package policy, covering the interests of every party involved in the development. These parties include the project owner, general contractor, subcontractor, and on some conditions, materials and equipment suppliers.

Contract Works Insurance, also known as Construction All Risks Insurance, covers fortuitous, accidental risk of physical loss or damage to the contract works during construction, also covering third party liabilities, and the advance loss of profits. Contract Works Insurance are an all-risk policy, subject to policy conditions.

Limits under Contract Works Insurance policies are based upon the full estimated contract value. Sub-limits can be applied to certain coverage extension, and a specific limit will apply to third party liability coverage.

The Contract Works and Building Works Insurance is vital for project owners or developers, as it provides the business with continuous protection for the business, throughout every stage of the construction process, covering the abundant amounts of risk and danger, which construction imposes.