Here are some key features of our product:
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Targeted at specific contractor types
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Insure the exact contract value, stop paying for more than you need
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High Contract Value and Third Party Liability Limits
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10% Discount if there is no Defects Liability Period involved
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Broad extensions with competitive ratings
Choose the right plan for your business.
Let’s get started to find the best coverage for your Business. You can choose from 3 different types of plans and complete your purchase within minutes:
Renovation Contractor Suite
This plan provides coverage for:
- Interior Renovation
- Reinstatement & Rehabilitation Works
Service Contractor Suite
This plan provides coverage for Maintenance/Servicing Works involving
- Air-Conditioning / Mechanical Ventilation (ACMV)
- Plumbing
- Equipment (Including Electronic Equipment)
- Plant & Machinery
- Other Service Contract Works (Subject to underwriting referral)
Enjoy these benefits when you purchase our Service Contractor Suite:
- Testing & Commissioning on New Equipment for up to 4 weeks
Small Construction Suite
This plan covers:
- Event / Staging Setup Works
- Additions & Alteration Works
- Other Small Contract Works (Subject to underwriting referral)
Enjoy these benefits when you purchase our Small Construction Suite:
- Contract Cancellation Benefit for Event / Staging Set Up Works
- Allows for excavation up to 1.5 metres
Here’s how Contractor Suite insurance protects your business
Duration of coverage
Up to 12 Month Contract Period plus up to 12 Months Defects Liability Period / Maintenance Period
Limits of coverage
| Contract Value / Contract Works Limit | Up to $1,500,000 |
| Removal of Debris Limit | 5% of Contact Value / Contract Works Limit |
| Professional Fees Limit | 10% of Contract Value / Contract Works Limit |
| Principal’s Existing Properties Value Limit | Up to $1,000,000 |
| Third-Party Liability Limit | Up to $5,000,000 |
| Section 1 | Limits / Excess |
| Automatic Reinstatement | Not Applicable |
| Cost of Recompiling Records and Claims Preparation | 10% of Contract Value / Contract Works or $100,000 whichever is lower |
| Cover for Insured works taken over or put into service | Not Applicable |
| Designer's Risk (Resultant Damage Only) | Not Applicable |
| Employees Personal Effects and Tools | $500 per employee and $10,000 in the aggregate |
| Escalation Clause | 10% of Contract Value / Contract Works |
| Extra Charges for Airfreight | 10% of Contract Value / Contract Works, or $100,000 whichever is lower |
| Extra Charges for Overtime, Night Work, Work on Public Holidays & Express Freight | 10% of Contract Value / Contract Works, or $100,000 whichever is lower |
| Free Issue Materials | 10% of Contract Value / Contract Works, or $100,000 whichever is lower |
| Inland Transit | 10% of Contract Value / Contract Works, or $100,000 whichever is lower Any One Conveyance / Aggregate |
| Loss Payee | Where Applicable |
| Marine 50/50 | Not Applicable |
| Offsite Fabrication/Temporary Storage | 10% of Contract Value / Contract Works, or $100,000 whichever is lower Any One Location / Aggregate |
| Payment on Account | Not Applicable |
| Plans and Documents | Maximum limit of $10,000 |
| Principal's Existing Property | As specified in the Policy Schedule |
| Professional Fees | 10% of Contract Value / Contract Works, Max $150,000 |
| Public Authorities | Not Applicable |
| Removal of Debris | 5% of Contract Value / Contract Works, Max $75,000 |
| Strike, Riot and Civil Commotion | Not Applicable |
| Temporary Works | Not Applicable |
| Time Adjustment (72 Hours) | Not Applicable |
| Section 2 | Limits / Excess |
| Consultant’s, Principal’s representative and Government and Statutory Board Employees are deemed as third parties | Not Applicable |
| Cross Liability including Waiver of Subrogation against Named Insured/Principal | Not Applicable |
| Loading & Unloading | Not Applicable |
| Non Negligence (RIBA) | Third Party Limit of Liability as specified in the Policy Schedule or S$1,000,000 whichever is lesser, Any One Accident / Aggregate |
| Non Owned Vehicles | Private Vehicles Only |
| Plant and Machinery | Not Applicable |
| Underground Services | Third Party Limit of Liability as specified in the Policy Schedule or S$1,000,000 whichever is lesser, Any One Accident / Aggregate |
| Vibration, Removal and Weakening of Support | Third Party Limit of Liability as specified in the Policy Schedule or S$1,000,000 whichever is lesser, Any One Accident / Aggregate |
| Section 1 and 2 | Limits / Excess |
| Automatic Extension (30 Days) | Subject to Additional Premium |
| Cessation of Work (30 Days) | Not Applicable |
| Extended Maintenance Clause | Where Applicable |
| Jurisdiction Clause | Not Applicable |
| MR112 Fire Fighting Facilities | Not Applicable |
Enjoy more benefits with our insurance.
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Contractor segmented products: Contractor Suite insurance offers comprehensive coverage for your specific scope of works; from ‘Interior Renovation Works’ to ‘Service Contracts’, our plans are designed to extend protection for your contract works and coverage for third-party liability claims. We make it easy for you to purchase comprehensive coverage at affordable prices.
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Hassle-free application: Application for a Contractor Suite insurance can be made online seamlessly, with no paperwork. Getting your business protected has never been easier.
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Supported by BIX: Contractor Suite insurance is supported by BIX, our intuitive platform which allows you to customise all your insurance needs. You can now purchase your insurance policies, make amendments, and submit claims all on our one-stop platform!
Your queries answered.
Income Contractor Suite Insurance offers comprehensive protection and coverage against material damage to the works and legal liability to third parties during construction/engineering works.
Income has 3 Contractor Suite products to best suit your scope of works:
Renovation Contractor Suite provides coverage for interior renovation, reinstatement and rehabilitation works.
Service Contractor Suite is targeted at works involving maintenance and servicing for:
i) Air-Conditioning and Mechanical Ventilation Works (ACMV)
ii) Plumbing Works
iii) Equipment (Including Electronic Equipment)
iv) Plant & Machinery
v) Other Service Contract Works (Subject to underwriting referral)
Income Small Construction Suite includes protection for small projects such as:
i) Event / Staging Setup Works
ii) Additions & Alterations Works
iii) Other Small Contract Works (Subject to underwriting referral)
Engineering works are generally high risk in nature and our Contractor Suite Insurance provides protection from losses due to accidental damage or third party liability claims in connection with the works.
You will also be required by most Principals to provide Third Party Liability coverage and our Contractor Suite products allow for a Limit of Liability of $5,000,000 Any one Accident and Unlimited in the Aggregate.
Section 1 - Material Damage
Provides coverage for any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, in a manner necessitating repair or replacement to the contract works.
Section 2 - Third Party Liability
Indemnity against sums which the Insured shall become legally liable to pay as damages consequent upon:
i) accidental bodily injury to or illness of third parties (whether fatal or not)
ii) accidental loss of or damage to property belonging to third parties occurring in direct connection with the construction or erection of the items insured under Section 1
For Section 1, you should insure the full contract value amount stated in your Letter of Award / Purchase Order.
For Section 2, you can reference your contract documents or check with the Principal for the Third Party Limit of Liability they require you to insure.
Our Income Contractor Suite Insurance is available to be purchased online via here.
Yes, you can enjoy the following discount with your purchase of Income Contractor Suite Insurance:
10% discount if no Defects Liability / Maintenance Period is Involved (Minimum Premium still applies)
PayNow or Credit Card via our online portal
Yes, you can make changes to the policy online directly on our BIX portal via https://business.income.com.sg/corporate/log-in or you may contact us here for assistance.
You may also raise your request through your intermediary if you have purchased through them.
Additional Premiums may apply.
You can cancel the insurance any time before the commencement date of the Policy for a full refund.
For policies which have already commenced, the policies are normally non-cancellable. If there are special circumstances, you can raise the cancellation request directly on our online BIX portal via https://business.income.com.sg/corporate/log-in or contact us you may contact us here for assistance.
You may also raise your request through your intermediary if you have purchased through them.
All employees are covered under the Work Injury Compensation Act regardless of salary levels, with some exemptions.
Work Injury Compensation Insurance is compulsory for all manual employees and non-manual employees earning less than $2,100 a month.
You can approach your intermediary for more details or write directly to us at cline@income.com.sg
Print all queries
Exclusions
There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.
- Pest Control and/or Landscaping Works
- Height Works exceeding 10 metres from ground or floor level
- Contract works with Contract Period inclusive of Buffer Period of more than 12 Months
- Contract works with Maintenance Period / Defects Liability Period of more than 12 Months
- Excavation Works
- Wet Risks / Subaqueous Works / Underwater Risks
- Contracts with Contract Value more than $1,500,000
- Contracts with Principal’s Existing Property Value more than $1,000,000
- Contracts with Third Party Liability Limit more than $5,000,000
- Standalone Scaffolding Erection Works
- Standalone Demolition Works or Any Demolition Works with explosives
- Works involving, Piling, Construction of Basements, Construction of Buildings, Bridges and Dams (Even if forming only a part of the works)
- Works near Clean Rooms, Boilers, Power Plants, Cement Plants, Waste/Recycling Plants, Chemical/Petrochemical Plants, Power Plants/Stations
- Works on board vessel, Shipyard, Offshore Platform / Rigs
- Works involving Public Utilities
- External Repair and Redecoration Works
Important Notes
This is for general information only and does not constitute an offer, recommendation, solicitation or advice to buy or sell any product(s). You can find the usual terms, conditions and exclusions of this plan in the policy contract. All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance advisor. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want.
Information is correct as at 27 February 2025.
Apply for Contractor Suite.
