Frequently Asked Questions

Contractor Suite

Contractor Suite Generic FAQs
  • Q:What is Income Contractor Suite Insurance?


    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)

  • Q:Why do I need Income Contractor Suite Insurance?


    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. 

  • Q:What is covered under Section 1 and 2?


    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

  • Q:How much do I need to insure?


    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.

  • Q:How do I purchase this insurance?


    Our Income Contractor Suite Insurance is available to be purchased online via here

  • Q:Do you offer any discounts for this insurance?


    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) 

  • Q:What are the accepted payment methods?


    PayNow or Credit Card via our online portal

  • Q:Can I make changes to the Policy after purchase? (E.g. Extension of Contract Period)


    Yes, you can make changes to the policy online directly on our BIX portal via 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.

  • Q:Can I cancel the Policy after purchase?


    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 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.

  • Q:Am I also required to purchase Work Injury Compensation insurance?


    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