Insurance for Builders

Yes, Professional Indemnity insurance is currently required for specific builder occupations in Northern Territory, Queensland, Victoria, and Western Australia. From 30 June 2027, registered building practitioners in NSW will be required to have Professional Indemnity insurance to work in the state, under the Design and Building Practitioner Act 2020.
Public Liability insurance is commonly required to enter jobsites or to work as a contractor or subcontractor for another business. A Public Liability policy may also be required to lease commercial office, workshop, or warehouse space. Builders in Tasmania must have at least $5 million in Public Liability cover to receive a builder licence.

Professional Indemnity insurance for builders does not cover:
• Any provision of design or engineering services, or responsibility for them
• Costs to rectify, repair, replace, complete, or remediate any building work or element
• Costs to rectify, repair, or remediate defective building work
• Property development
• Breach of warranty arising from property development
• Building certification or verification of design compliance

A job-specific or site-specific policy provides cover for a single project or location for a limited period. (Please note: BizCover does not offer job- and site-specific policies.)
Job- and site-specific policies generally provide limited cover compared to a “blanket” policy. Blanket policies can cover work done on multiple sites or projects. They are often easier to manage, as you only need to worry about the details of just one policy. A blanket policy also helps you avoid gaps in cover for ongoing or smaller projects.

Yes. Many policies—including Public Liability and Professional Indemnity insurance—can cover you when working on multiple sites and projects.

Business insurance policies generally last for 12 months. You will need to either renew your policies or switch insurers every year.
Many builders compare new quotes each year before renewal. This helps them decide if their current policy still fits their business needs and helps them find potential savings for their business.

Yes, there are times when self-employed builders need insurance. Insurance may be required for self-employed builders to meet licencing requirements, get on site, work as a contractor or subcontractor, or lease commercial workshop or office space to run their business.
Builders face many unique on-the-job risks, whether they are a self-employed sole trader or run a building business with dozens of employees. Business insurance protects your business, tools, assets, and reputation no matter your size.