ANNUAL POLICY
Our annual project policy combination includes a material damage policy and an optional combined liability policy if required. We insure simple or complex projects whether they are owner-builder, residential, commercial, civil or mechanical.
Policy Wording
Annual Project Policy Wording (Material Damage only)
Annual Project Policy Wording (Material Damage and Combined Liability)
Product Information
Key policy features:
No average
Tools and Equipment are “new for old” if less than two years old
Contractors and subcontractors insured.
Defective Design, Workmanship and Material (DE4)
Transit
The policy automatically includes:
Off-site storage and transit (to the full sum insured)
Subrogation waiver for all insureds
96 hours event clause
Defects liability cover (if contractually applicable)
Testing and commissioning
Variations and escalation
Removal of debris
Professional fees
Expediting expense
Leak search and locate
Mitigation / temporary protection costs
Reinstatement of sums insured
The policy can also be extended to include
Principal supplied materials
Contractors plant, tools and equipment
Cover advantage
Contractors and subcontractors insurance (usually automatically included)
Earthworks advantage
Financiers interests
Heritage buildings
Display homes
Existing structures
Hired in plant
Partial occupancy
Code of Compliance Certificate (CCC)
The cover provided can also include a combined liability policy which includes the following:
Key features of the annual project combined liability policy
General liability cover
Employers liability cover
Statutory liability cover
Defence costs
The annual project combined liability policy automatically includes
30 day minimum reporting window
Business advice or service
Business travel to a country outside New Zealand
Care custody and control
Defence cost advancement (for employers and statutory liability only)
Heirs, estates and legal representatives (for statutory liability only)
Innkeepers liability
Landlords liability
Product withdrawal costs
Punitive and exemplary damages (for General liability only)
Service and repair – machinery
Service and repair – motor vehicles and watercraft
Spouses
Tenants liability
Underground property or services
Vibration and removal of support
The annual project combined liability policy can also be extended to include
Defective workmanship
We can also cover:
Single Policy Projects
Contact us to find out more
We partner with insurance brokers to deliver tailored solutions for a wide range of clients and industries.
With our experience, technical knowledge and commitment to service, you have a trusted business partner who responds quickly and efficiently – helping you get more clients covered.
Head Office
MECON Insurance Limited
Findex, Level 8, 139 Quay Street
Auckland, 1010 New Zealand
Tel: 0800 632 666
Head of Construction – Cliff Scott
[email protected]
Senior Underwriter – Rebecca Sharp
[email protected]
Claims
[email protected]
Underwriting & Sales
Suite 2, 506 South Titirangi Road
Auckland, 0604 New Zealand
Tel: 0800 632 666
Head of Construction – Cliff Scott
[email protected]
Senior Underwriter – Rebecca Sharp
[email protected]
Claims
[email protected]