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Commercial Renovation Insurance protects you from accidental property damage (e.g. to client's property), and public liability.

Commercial renovation insurance coverage will include:
1. Accidental damage caused to client’s property, e.g. broken walls
2. Public Liability, e.g. injuries to members of the public

Commercial renovation insurance is a must-buy for all renovation contractors. Clients and MCSTs will often demand that you carry commercial renovation insurance. Also, main-contractors or developers will also demand that their sub-contractors carry their own commercial renovation insurance. When you choose Provide to provide your insurance, you’ll have a quick and hassle-free experience.

What's included in Commercial Renovation Insurance coverage?

Commercial renovation insurance covers you for material damage caused to your client’s property. Accidents are common in renovation projects. You could accidentally damage a client’s ceiling, walls, floor, and other property. Maybe you drop a hammer while you’re on top of a ladder and smash a floor tile. Or maybe you accidentally demolished the wrong wall. Whatever the case, commercial property insurance is there to protect you if you wind up becoming liable for property damage.

Commercial renovation insurance also covers you for public liability. This protects you from legal liability due to i) property damage, or ii) injuries to third-parties. Third-parties could be members of the public. For instance, maybe while installing new tiles on a client’s roof, your workers accidentally drop some tiles onto the pavement, and these tiles hit someone on the head. Commercial renovation insurance would cover you for legal expenses and damages if that injured person sued you.

Do I need Commercial Renovation Insurance?

If you’re a renovation contactor, you definitely need Commercial Renovation Insurance. It’s almost always a pre-requisite in contracts that you sign with main-contractors and developers. Even if the contract doesn’t require you to carry this type of insurance, it’s a good idea to have it anyway, given that accidents occur so frequently. 

How much Commercial Renovation Insurance coverage do I need?

Typically, most contractors will carry around $1-$2 million Public Liability coverage under their Commercial Renovation Insurance policy. This is because the majority of contracts you’ll encounter will request for $1-$2 million of Public Liability coverage. Large contracts, particularly those issued by MNCs, may demand up to $5 million in Public Liability cover.

Most contractors will also carry $50,000 to $100,000 material damage cover, to protect themselves if they accidentally damage their clients’ property. 

How much does Commercial Renovation Insurance cost in Singapore?

  • Single Project Cover: Starts from $250 per project

  • Annual Cover: Starts from $83/month

With Provide, you save up to 25% on your premiums. Our digital operating model creates lower overheads, and we pass every dollar saved back to our clients.

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