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Construction insurance

There is a lot of construction. New production and office buildings are rising, as well as shopping centres, apartment buildings and private residences. Old buildings are renovated. New roads are established and old ones reconstructed. In addition to construction, people have started to pay more attention to managing the risks related to the constructions. Construction all-risks insurance provides the means for managing the risks.

The construction all-risks insurance contract can be signed by the contracting party of the construction object, the main contractor or the subcontractors working on the object.

In case of construction all-risks insurance, the object of insurance is the construction works being performed, and the construction materials. It is also possible to insure the construction machines, tools, shelters, scaffolding, etc., located on the object of construction.

Construction all-risks insurance indemnifies the losses caused by:
  • the negligence and incompetence of workers
  • fire
  • water
  • burglary, vandalism
  • forces of nature
  • other damages, the reasons for which are not treated as exclusions on the basis of the insurance terms.
It is also possible to choose additional insurance coverage, which compensates for:
  • the losses caused to a third party by the building contractor (liability insurance)
  • the cost of cleaning after the insured event and the costs related to liquidating the consequences of the insured event
  • the losses caused to the existing building of the contracting party located in the immediate vicinity of the object of construction during the performance of construction works.
The erection all-risks insurance contract can be signed by the contracting party, the building contractors working on the object of construction, the owner or supplier of the equipment to be assembled.

Erection all-risks insurance provides an opportunity to insure the equipment erected (installed) together with the construction and assembly works and materials. It is also possible to insure the construction machines operating on the construction site, as well as tools, scaffolding, shelters, etc.

Erection all-risks insurance indemnifies the losses caused during the assembly of equipment, production lines and machines and other metal structures as a result of:
  • the negligence and incompetence of workers
  • fire
  • water
  • burglary, vandalism
  • forces of nature
  • other damages, the reasons for which are not treated as exclusions on the basis of insurance terms.
It is also possible to choose additional insurance coverage, which compensates for:
  • the losses caused to a third party by the building contractor (liability insurance)
  • the cost of cleaning after the insured event and the costs related to liquidating the consequences of the insured event
  • the losses caused to the existing building/structure of the contracting party located in the immediate vicinity of the object of assembly during the performance of assembly works
  • the losses occurring during the test operation of the assembled equipment/lines.
General terms and conditions of insurance contracts KT.0898.12
General terms and conditions of insurance contracts KT.0806.11 (Valid for contracts issued until 31.10.2012)