JCT Insurance
Comprehensive Joint Contracts Tribunal Insurance for Construction Businesses
At Forum Insurance, we have over 30 years of experience in providing businesses and individuals with comprehensive JCT insurance cover, essential protection for your construction project if you have a JCT contract.
Joint Contracts Tribunal insurance can come in many different forms at different levels, to take into account different stages of a project as well as different project types. They include 6.5.1, 5.4a, 5.4b and 5.4c insurance.
What is JCT Insurance?
JCT Insurance, also known as Joint Contracts Tribunal insurance, is a type of cover which is a must-have for any construction projects that carry a JCT contract. JCT contracts insurance safeguards each individual, business or organisation that is part of the construction project in the event a non-negligence claim is filed. This includes clients, developers, builders, contractors and subcontractors.
What are the JCT Insurance Options?
JCT Insurance comes in a variety of types, and it’s imperative that you select the one that gives you the most suitable coverage relating to your JCT contract and the stage of the build. The types of cover include:
JCT 6.5.1
This is for when the construction process is still underway and a non-negligence issue occurs. Typically,
JCT 6.5.1 insurance covers incidents that cannot be accounted to any individual due to their nature.
JCT 5.4a
This is a subsection policy that calls for the contractor and the property owner to be identified on the building insurance policy.
JCT 5.4b
In this policy, it’s the contractor and the property developer that are named on the building insurance policy.
JCT 5.4c
This policy makes up what is known as a ‘joint names’ policy, where the contractor is also included on the home insurance policy.
If you’re unsure of which type you require at which stages, get in touch with Forum Insurance and we can assist with working out which types of JCT insurance will be most suited to your construction business and project at the right times.
Do I Need JCT Insurance?
Any building project involves a multitude of stakeholders and workers, and the number of these required keeps increasing as a construction project moves onto the latter stages. With so many people working on a single building project, the chances of a fault occurring significantly increases.
This is where JCT contract insurance comes in, as it effectively protects all stakeholders, including builders, developers, engineers, contractors, subcontractors and suppliers.
The Benefits of JCT Insurance
The biggest benefit of a Joint Contracts Tribunal policy is that it accounts for unforeseeable circumstances. In doing so, it makes sure to delegate duties clearly, ensuring there’s less room for confusion and mistakes. It also has the added benefit of adding efficiency to your construction project, allowing you to speed up the construction process.
JCT Insurance is also extensive, as not only does it cover loss or damage caused to a property under construction, but it can also include surrounding properties as well as the work of a contractor or developer.
At Forum Insurance we’re experienced in helping businesses and individuals to create comprehensive JCT insurance policies to perfectly fit their construction projects, ensuring they have suitable JCT cover at the right level. Contact us today for your JCT insurance quote.
We provide a range of different insurance policies for the construction sector, including self build insurance, property owners insurance, contractors combined and legal indemnity.
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