Contractor and renovation insurance explained
Contractor’s all risks insurance: what is covered
Contractor’s all risks insurance is one policy for a job on site. Here is what it covers and leaves out, in Great American’s Renovation Protect terms, and what it costs today.
What it covers
- Damage to the works, materials and plant, from the day you take possession to handover.
- Public liability if the job injures someone or damages property that isn't yours.
- On Renovation Protect: removal of debris at 10% of the contract value, and the principal's existing property to S$50,000.
What it leaves out
- It is for interior renovation, fit-out and reinstatement on one contract, with work of up to 9 months and a maintenance period of up to 12 months. Structural hacking or coring (unless a professional engineer designed it), work above 30 feet, exterior, civil and demolition work are outside it.
- Injuries to your own workers are a work injury compensation claim, not a public liability claim: make sure your WICA policy is in force for every job.
- A performance bond or deposit guarantee is a promise to pay if the job isn't finished, not insurance against damage.
What it costs today
Great American prices by the contract value, in four plans: Plan A to S$50,000, B to S$100,000, C to S$250,000, D to S$500,000, each at three liability limits (S$1,000,000, S$1,500,000 and S$2,000,000).
Neither Great American nor Income is one of our featured insurers for contractor and renovation insurance, so we rank neither. They sell different things, so they are never set against each other: Great American’s Renovation Protect insures the works and your liability on one contract, and Income’s licence guarantee is the guarantee HDB asks for to list a renovation contractor. Every example · Price your own contract.
How these prices are worked out
Great American’s prices are the premium table on its Renovation Protect proposal form (F.40302B (12/24)), the same figures as its pamphlet (5611-SGP (09/23)), GST included, read on 28 Oct 2026. Income’s are the table on its licence guarantee page (information as at 28 Jan 2026), GST-exempt, read on 28 Oct 2026. Great American's premium is paid once for the one contract; Income's once for the guarantee period. Nothing here is a live quote. Shenton Brokers is an insurance broker in Singapore. Every example is in a CSV file, updated daily.
Questions people ask
What does contractor’s all risks insurance cover?
Two halves: damage to the work itself (the works, materials and plant, from the day you take possession to handover), and public liability if the job injures someone or damages property that isn’t yours, like the flat downstairs or the building’s common areas.
What does Great American’s Renovation Protect add?
Removal of debris at 10% of the contract value and the principal’s existing property to S$50,000, with third-party liability of S$1,000,000, S$1,500,000, S$2,000,000.
What is not covered?
It is for interior renovation, fit-out and reinstatement on one contract, with work of up to 9 months and a maintenance period of up to 12 months. Structural hacking or coring (unless a professional engineer designed it), work above 30 feet, exterior, civil and demolition work are outside it. Injuries to your own workers are a work injury compensation claim, not a public liability claim: make sure your WICA policy is in force for every job.
What is the excess?
On Renovation Protect, S$2,500.00 a claim, S$5,000.00 for water damage, collapse, acts of God or the principal’s property.
One job or the whole year?
A single-project policy suits one big job. A contractor doing many small renovations is usually better off with an annual policy that covers every job up to an agreed size, with one renewal. Renovation Protect is priced for one contract.
How do I buy it?
Great American sells Renovation Protect through intermediaries: Apply Now opens its proposal form on our site, filled in from your answers, and we place the cover; you send it with the contract’s letter of award or purchase order. Income sells its licence guarantee on its own site: Buy Now takes you there with your name or UEN and HDB’s letter about your listing or renewal, and Income issues the guarantee at once. Ask Shenton to arrange sends us the plan you picked and we arrange it for you.