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Commercial Renovation Insurance protects your business from Public Liability, Property Damage, and more.
Renovation projects will often mandate that contractors carry a specific amount of Public Liability Insurance – e.g. $1 million. Our Commercial Renovation Insurance perfectly fulfills this requirement. It also protects you from property damage, ensuring that any harm caused to your client’s property is covered.
This type of insurance is industry-standard for all renovation contractors. Sometimes, home owners will even buy it for their contractors.
This type of insurance will cover:
1. Physical damage to your client’s property (e.g. damage to walls while renovating)
2. Public Liability to third-parties (e.g. damage to neighbour’s property during the project)
Given the high risk of renovation jobs, it’s essential that contractors carry Commercial Renovation Insurance at all times. Protect your business from expensive litigation today.
What Does Commercial Renovation Insurance Cover in Singapore?
- Property damage: Covers repair costs if you accidentally damage your client’s property during renovation.
- Public liability: Covers you if you damage neighbouring property during your project. Also covers you if you injure 3rd parties, like members of the public while performing your renovation.
- Subcontractor Errors: Coverage for property damage or injuries caused to others by your sub-contractors.
1. You’re renovating a client’s house. You accidentally damage some water pipes while hacking the walls, causing a huge flood. This policy will pay for repair costs to fix the damaged pipes, and replace damaged flooring caused by the flooding.
2. You’re renovating a commercial property. A part of the ceiling accidentally drops onto someone while they’re walking underneath it, causing serious injuries. The injured person sues you for personal injury damages. This policy will pay for legal expenses like your lawyer’s fees, and court damages.
Do I Need Commercial Renovation Insurance?
As long as you provide any kind of renovation service, it’s critical that you have Commercial Renovation Insurance to protect your business. For only $250, you can protect yourself against expensive public liability and property damage, that could otherwise potentially bankrupt your business.
The vast majority of commercial renovation businesses in Singapore will have a renovation insurance policy.
How Much Public Liability Cover Does This Insurance Provide?
We provide up to $4 million in Public Liability for our standard packages. Our standard packages can be quoted and bought within 24 hours.
If you require more than $4 million in Public Liability, we can craft a tailored policy for you. Drop us a message below and we’ll get back to you ASAP.
How Much Does Commercial Renovation Insurance in Singapore Cost?
Commercial Renovation Insurance in Singapore starts from just $250. Prices will vary depending on your project size and annual revenue.
With Provide, you save up to 25% on your annual premiums. That’s because our digital operating model creates lower overheads, and we pass every dollar saved back to our clients.
To get the best coverage for your business at the lowest cost possible, it’s crucial to work with a great broker. Our industry experts, with 20+ years of combined experience, will:
1. Analyse your unique needs.
2. Craft a custom protection plan for you.
3. Search the market for the best coverage and lowest prices for you.