Construction insurance (including Contract Works and builders' risk policies) generally costs between 1 and 3 percent of the total estimated construction project value or contract sum. For example, a major residential build valued at 500,000 New Zealand dollars will typically incur annual construction insurance premiums ranging from 5,000 to 15,000 dollars, heavily dependent on project location, structural material types, site geotechnical risks, builder experience levels, and whether comprehensive public liability extensions are bundled into the master commercial policy.
1 votes
Marked as accepted