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Construction Insurance

CONSTRUCTION AND ASSEMBLY WORK INSURANCE

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Construction and assembly insurance is an opportunity to protect your investments and the interests of all parties in construction and assembly and design work. In most cases, this insurance is mandatory for construction companies at the request of customers and partners.


CAR & EAR

( CAR - Construction All-Risk and EAR - Erection All-Risk )

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Total construction risk insurance is a complex insurance policy consisting of a property insurance part and a liability insurance part . The policyholder may be a person who has an insurance interest - a construction company (general contractor or subcontractor), a client of construction works, the owner of a building or the legal possessor.


PROPERTY INSURANCE


Property damage insurance cover is valid during the construction period and the subsequent warranty period. The insurance cover for the property damage guarantee period is offered together with the insurance cover for the construction period. The object of insurance is the construction of a building or the performance of construction work. It is also possible to secure construction machinery, tools and implements used in construction work, such as heat accumulators, scaffolding, tools, tables, chairs, shelves, cabinets, computers and office equipment in a warm and / or storage room.

An insured event of property damage is unexpected and unforeseen damage, destruction or loss of the object of insurance at the place of insurance and during the validity of the insurance cover for a reason that is not excluded according to the insurance terms and conditions.

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CAUSES OF PROPERTY DAMAGE

 

  • Fire, lightning strike

  • Water or other liquid escaping from a broken inland waterway network or sewerage system or parts thereof, or leaking from the said parts of the building; water or other liquid escaping from a broken heating, cooling or fire-fighting system of a building or parts thereof, or leakage of such systems

  • A tree or other object that has fallen on the insured object due to a storm or storm, a natural flood

  • Burglary, robbery and vandalism

  • Construction machinery colliding with a moving or stationary object, running into an obstacle, overturning, falling into the machine or falling into a ditch or ditch, and carelessness of the machine operator when using the machine


POSSIBLE ADDITIONAL PROTECTIONS

 

  • Cleaning, demolition and freight costs related to the elimination of the consequences of the insured event

  • Additional costs due to working outside working hours and on public holidays (overtime pay) in connection with the restoration of a damaged building

  • Additional costs incurred due to the need for expedited delivery of damaged material or spare part that needs to be replaced (additional cost for express transport)

  • Damage to the customer's existing building during the construction works

  • Damage caused by a design error to a properly constructed building or part thereof

  • Damage caused during sample operation or testing;

  • Damage caused by transporting construction material from the place of departure of the cargo to the construction site.


LIABILITY INSURANCE


Liability insurance cover is valid during the construction period and the subsequent warranty period. The object of insurance is the proprietary obligations of the insured person arising from unlawful damage related to the construction activities. The insurance cover extends to persons insured on the basis of an insurance contract. The insured person is the policyholder and all persons used by the policyholder in the performance of his or her construction contractual obligations.

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An insured event of liability damage is the unlawful infliction of damage by the insured person to a third party, as a result of which the insured person has incurred a legal obligation to compensate for the damage.

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LIABILITY INSURANCE COVERAGE EXPANDS

 

  • Claims between insured persons (cross-liability)

  • Requirements for Damage or Destruction of an Underground Cable, Pipeline or Other Underground Communication

  • Requirements due to vibration, removal or weakening of support elements.

 

DAMAGES FOR COMPENSATION

 

  • Damage resulting from damage, destruction or impairment of the victim's property

  • Property damage due to personal injury, such as the cost of treatment for the victim, damage due to temporary and / or permanent incapacity for work or funeral expenses

  • Legal aid expenses (expenses of the insured person for legal aid, expertise and court proceedings), if they are necessary to prove the absence of fault of the insured person.

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