Keeping your business risk information up to date is essential to ensure your insurance cover remains adequate, your premium remains competitive, and your insurer fully understands and accepts your risk.

At DPI, we provide bespoke advice and service when arranging your insurance. If there’s anything you don’t understand or need help with, please don’t hesitate to contact us – we’re here to support you.

Below is a summary of the key areas we typically review at renewal for a Contractors Insurance policy and why they are important:

1. Business Activities

We’ll confirm the exact nature of the work you undertake, such as:

• Groundworks, electrical, plumbing, roofing, carpentry, demolition, etc.
• Any changes in services offered or new trades added
• Work at height, depth, or hazardous locations (e.g. railways, airports, offshore)

Providing a full and accurate description of your activities is crucial to ensure your policy responds correctly in the event of a claim.

2. Turnover and Wage Roll

Insurers rate contractor policies based on:

• Annual turnover
• Wage roll for manual and clerical workers
• Use of labour-only subcontractors and/or bona fide subcontractors

Accurate estimates help ensure correct cover levels and prevent under- or over-charging.

3. Employers’ Liability

If you employ any staff – including part-time, temporary, or apprentices – you’re legally required to hold Employers’ Liability cover.
We’ll review:

• Staff numbers and job roles
• Use of subcontractors
• Health and safety measures in place

4. Public and Products Liability

This covers injury or damage caused to third parties or their property. Insurers need to know:

• The nature of your work and where it’s carried out
• Contract values and client types (e.g. domestic, commercial, industrial)
• Any work involving heat (e.g. welding, blow torches, angle grinders) hazardous activities or substances
• High-risk sites (e.g. railways, quarries, airports, offshore, or MOD premises)

5. Tools, Plant & Equipment

We’ll confirm whether you need cover for:

• Owned tools and equipment
• Hired-in plant (with required indemnity limits)
• Contract works – covering materials and work in progress on-site

It’s essential to ensure sums insured reflect current replacement costs and the nature of the projects you’re undertaking.

6. Claims History

Reviewing any claims from the previous year’s helps identify potential risk management improvements. Frequent or high-value claims may affect terms at renewal, but demonstrating proactive loss prevention measures can support favourable outcomes.

7. Health & Safety and Risk Management

Insurers may ask for details on:

• Method statements and risk assessments
• PPE policies
• Training and certification of employees
• Evidence of safe systems of work

Strong risk management procedures can lead to improved terms and reduced premiums.

8. Insurance General Acceptance – Adverse Financial History, Health & Safety Breaches and Criminal History

Commercial insurance is subject to an ongoing fair presentation of risk and insurance contracts are subject to certain standard general acceptance criteria. It is the ongoing responsibility of the policyholder to ensure any adverse financial history, health & safety breaches and criminal history are disclosed as these are considered material facts that directly impact the insurer’s ability to accurately assess risk. Non-disclosure or misrepresentation of such information can lead to serious consequences, including the voiding of the policy, rejection of claims and legal action. Full disclosure ensures transparency, allows insurers to offer suitable terms and helps maintain the integrity of the insurance contract.

Please Note:
This guide provides a general overview and should not be construed as bespoke advice or a personal recommendation. The specific insurance needs of contractors can vary significantly depending on the size and scope of your business, your clients, and the sectors you operate in.