Demolition and Asbestos Removal Insurance
Tear down old structures and handle hazardous materials like asbestos with Demolition and Asbestos Removal Insurance.
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What is Demolition and Asbestos Removal Insurance?
Demolition and Asbestos Removal Insurance is a specialised type of insurance designed for businesses involved in demolition work or the removal, handling or disposal of asbestos in Australia.
It protects against the unique risks of these high-hazard industries, covering potential claims for property damage, personal injury, environmental cleanup or legal liabilities arising from your work.
Why is It Necessary for Your Business?
Demolition and asbestos removal are high-risk industries. Without the right insurance, a single incident, such as accidental asbestos exposure or damage to a neighbouring property, could cost you thousands or worse, ruin your reputation.
Here’s why getting the right Demolition and Asbestos Removal Insurance is important:
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High-Risk Nature: Demolition involves heavy machinery like excavators and bulldozers, while asbestos removal deals with a carcinogenic material linked to serious health issues including lung cancer.
Legal Requirements: In Australia, businesses handling asbestos or demolition often need specific insurance to meet licensing and contract requirements.
Financial Protection: Claims for property damage, personal injury or environmental cleanup can be financially crippling without proper coverage.
Peace of Mind: Knowing you’re covered lets you focus on delivering quality work without worrying about what could go wrong.
Businesses that Need Demolition and Asbestos Removal Insurance
Crane Insurance protects your business from financial losses related to crane operations, such as:
01
Demolition Contractors: Businesses or sole traders performing demolition work, from small residential projects (e.g., knocking down a house) to large commercial or industrial demolitions (e.g., multi-storey buildings).
02
Asbestos Removalists: Licensed professionals or companies handling, removing, transporting or disposing of asbestos-containing materials (e.g., bonded or friable asbestos from old buildings).
03
General Contractors Managing Demolition or Asbestos Work: Builders or project managers overseeing projects that include demolition or asbestos removal, even if subcontracted.
04
Construction Companies with Demolition Components: Construction firms that perform partial demolition (e.g., strip-outs or renovations) as part of their projects.
05
Asbestos Consultants or Testing Professionals: Professionals providing asbestos inspections, air monitoring or consultancy services.
06
Property Developers Undertaking Demolition or Asbestos Removal: Developers managing site redevelopment that involves demolishing old structures or removing asbestos.
07
Waste Management Companies Handling Asbestos: Businesses involved in transporting or disposing of asbestos waste.
Key Risks Covered by Demolition and Asbestos Removal Insurance
The Crane Insurance landscape is always evolving and staying informed is key.Â
Here are some recent trends and updates in Australia:
Third-Party Property Damage
Demolition work can accidentally damage nearby buildings, fences, utilities or infrastructure (e.g., a collapsing wall damaging a neighbouring property).
This can cover repair costs, legal fees and compensation claims for property damage caused by your operations.
Third-Party Personal Injury
Bystanders, clients or other workers could be injured on or near your worksite due to falling debris, equipment accidents or other hazards.
This provides coverage for medical expenses, lost wages and legal costs for injury claims.
Asbestos Exposure and Contamination
Handling asbestos can lead to accidental exposure, causing health issues for workers, clients or the public. Asbestos fibres can also contaminate air or soil if not properly contained.
Having Asbestos Liability Insurance, often excluded from standard policies, can cover claims related to exposure, health impacts or improper handling.
Environmental and Pollution Incidents
Improper disposal or accidental release of asbestos or other hazardous materials (e.g., dust, chemicals) can lead to environmental damage, triggering hefty cleanup costs or regulatory fines.
If you get Environmental or Pollution Liability Insurance, this can cover cleanup, disposal costs and fines under Australia’s strict environmental laws.
Note any relevant exclusions that may apply here
Damage or Theft of Equipment
Heavy machinery, such as excavators, cranes or bulldozers, used in demolition can be damaged, stolen or vandalised, leading to costly repairs or replacements.
This can protect your equipment, ensuring you can keep operations running.
Workplace Injuries or Illnesses
Employees face significant physical risks, from handling heavy machinery to potential long-term health issues from asbestos exposure.
Workers’ Compensation Insurance, mandatory in Australia, covers medical costs, rehabilitation and lost wages for work-related injuries or illnesses.
Professional Errors (if applicable)
If your business provides consultancy services, such as asbestos testing or air monitoring, errors in advice or reporting could lead to claims of negligence.
The right coverage can protect you against financial losses as a result of legal costs and compensation for mistakes or oversights in your professional services.
Liability of Subcontractors
If you hire subcontractors for asbestos removal or demolition, you could still be held liable for their mistakes or accidents.
Policies that cover such scenarios can protect you from claims arising from subcontractors’ actions.
Frequently asked questions
What happens if my policy excludes asbestos?
If your policy has an “absolute asbestos exclusion,” you won’t be covered for any asbestos-related claims, even accidental ones. Always check your policy and work with a broker to add Asbestos Liability Coverage.
Can I get insurance for a single project?
Yes! Some insurers offer short-term policies for specific contracts, ideal if you’re taking on a one-off demolition or asbestos job.
What if my business works with other hazardous materials?
If you handle materials like silica, lead or mould, an insurance broker can help you source policies that cover these risks too. You can contact us at Tank Insurance to explore your options.
How fast can I get covered?
You can often get a quote within hours and coverage in place within days, depending on your needs.