The JCT suite of contracts are well understood, and frequently utilised set of ‘off the shelf’ contract terms which manage the relationship between a contractor and the employer (i.e.; the renovator/property owner). Within these contracts, there are clauses dealing with insurance. Our product has been designed to dovetail with the requirements of the JCT contract, and in particular, we are able to offer ‘joint names’ insurance for existing structure and works.
The joint names requirement is a feature of the JCT suite. It requires that both the contractor and the employer are named policyholders on not just the contract works insurance, but also the buildings insurance. Noting the contractor as a joint insured precludes the insurer from subrogating against the contractor in the event that he negligently damaged the buildings or the works. The standard property market will not offer this cover. Where joint names requirement exists under contract, a renovator will need to purchase specialist cover of the type we offer to avoid serious difficulties at claim time.
There are various forms of this contract:
- JCT Homeowner – the most basic form. Suitable for small, straightforward projects
- JCT Minor Building Works – Suitable for larger projects, but where the works remain relatively straightforward
- JCT Intermediate – for larger, more complex projects
- JCT Standard – able to cope with massive developments. Rarely used on all but the largest of domestic projects
There are various insurance options. We will offer advice around which options are appropriate for any given project.