Construction Insurance
This insurance is essential for new-build construction projects, renovations, and refurbishment works, and is suitable for construction companies, contractors, and real estate businesses.
It covers material damage resulting from unforeseen events occurring on a construction site, from the start of the works through to completion. It may also cover materials, equipment, and work in progress, providing financial protection for the parties involved in the project. Depending on the cover selected, it may also include physical damage to third parties.
Not every company requires the same level of cover. That is why, as insurance brokers, we assess the type of project, determine the correct insured value, and identify the need for additional cover. This enables us to identify specific risks and recommend the most suitable solutions. We also work with several leading insurers to provide you with the best cover at the most competitive price.
Construction All Risks Insurance Cover
Standard Cover
– Fire, lightning and explosion;
– Water damage;
– Landslides;
– Storm damage;
– Flooding.
Additional Cover Available
– Faulty Workmanship;
– Theft, Robbery and Vandalism;
– Machinery and Equipment;
– Debris Removal;
– Construction Delays;
– Third-Party Liability;
– Other options available. Contact us for details.
The cover selected should be tailored to your needs and the type of risk being insured. It is also essential to check the cover, exclusions and sums insured specified in the policy..
More protection. Less risk.
Get a quote for your Construction Insurance
We’ll provide a free, no-obligation review of your insurance.
FAQs
Does Construction Insurance cover damage to neighbouring buildings?
No. Only if third-party liability cover is included.
Does Construction Insurance cover construction workers?
No. Workers must be covered by occupational accident insurance.
Does Construction Insurance cover construction defects?
It does not cover defects themselves, but it may cover damage caused by accidental errors during construction. Contact us for more information.
Is Construction Insurance compulsory?
It is not required by law. However, it is recommended and may be required by banks, included as a contractual obligation for certain projects, or requested by other entities.
Does Construction Insurance provide tax benefits for a company?
Yes. As insurance premiums are considered operating expenses, the amount may be deductible for corporate income tax purposes.
How much does Construction Insurance cost?
The cost depends on the type of project, its expected duration, the sum insured, the location, and the cover included.