MECON’s Annual Projects policy combines both Material Damage and Public Liability.
We offer the flexibility of policies which can operate on a
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turnover (transfer)
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run-off (contracts commencing) or
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individual declaration (pay as you go)
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difference in conditions
We insure simple or complex projects whether they are owner-builder, residential, commercial, civil or mechanical.
Key features:
- No average
- Tools and Equipment are “new for old” if less than two years old
- Contractors and subcontractors insured where required by contract
- Defective Design, Workmanship and Material (DE4)
- Marine Transit
The policy automatically includes:
- Advertising Liability
- Contractual Liability
- Off-site storage and transit (to the full sum insured)
- Subrogation waiver for all insureds
- Vibration weakening or the removal of support
- $20,000 claim preparation costs under Section 2 – Liability
- 96 hours event clause
The policy can also be extended to include:
- Contractors plant, tools and equipment
- Cover advantage extension
- Defective workmanship
- Display homes
- Employers liability
- Exemplary damages
- Existing structures
- Forest and Rural Fires extension
- Hired in plant
- Licensed building practitioners
- Liquidated damages (for residential builders)
- Partial occupancy
- Professional indemnity
- Statutory Liability
- Testing and commissioning