Insurance period and premium

The combined Construction Risks – Material Damage and Liability policy has been renewed (extended) for a short (4 month) term from 1 July 2022 to 31 October 2022. The extension will ensure project expenditure forecasting aligns more closely with the State Budget. Future anniversary dates will fall due on 31 October.

Premium rates won’t vary from the expiring period. Premium payment for this short term will be due in November 2022. Deposit premiums will then be collected based on estimated values for contracts awarded during the period 1/7/2022 to 31/10/2023.

Policy wording

Coverage is the same as the expiring policy with a number of minor changes to clarify coverage and general formatting improvements. The changes do not impact cover provided by the policy.

More Information

Contact us on 03 9270 6900 or contact@vmia.vic.gov.au.

Please read the full July 2022 - October 2022 policy terms and conditions [PDF, 1.02MB]