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Construction insurance

Guaranteed security for your construction project

Whether you're building a house according to your own plans, converting a rustic property into an idyllic holiday home or renovating an old family estate, you're realising a dream. And your construction insurance sees to it that it doesn't turn into a nightmare. Because even the best architect and builder are not immune from construction accidents. Protect yourself so that you can make your plans in peace.

Generali construction insurance coverage

 

Indispensable insurance for all your construction projects

If you look at the risks, construction insurance can be very worthwhile. Construction insurance from Generali is doubly attractive: it encompasses both insurance for material damage resulting from accidents and principal’s liability insurance for third-party claims. And, if your company needs other specific cover, your construction insurance offers the flexibility of including additional modules.

 

 

What is insured?

There is a wide range of construction risks that are difficult to foresee. Construction insurance from Generali offers you security in the building phase and ideal coverage:

 

Construction damage and loss

  • damage to or destruction of construction work caused by unforeseeable and sudden construction accidents
  • loss due to theft
  • water damage to building
  • malicious damage

 

Principal’s liability insurance

  • insurance coverage for claims arising from personal injury or property damage
  • defence against unjustified third-party claims
  • Generali pays your loss prevention costs

 

 

What add-ons are available?

This construction insurance offers you a range of add-on options. For example, you can also insure:

  • existing constructions and moveable property located in them
  • scaffolding and formwork materials and temporary structures, construction offices, fencing, advertising signs
  • building plot and ground
  • more

How you benefit

  • Covers construction work and third-party claims for damages in a single product
  • Also covers the costs of cleaning up, fault finding and reconstruction
  • Flexible addition of supplementary insurance that is important for your company and your construction project

HOW GENERALI CONSTRUCTION INSURANCE WORKS

 

PRACTICAL EXAMPLE

Mr Smith is renovating his house and at the same time adding a new, larger balcony. During construction work for the balcony, part of the existing facade breaks off and falls into the pit. On checking the plans, it is found that the architect's calculations were correct and that safety rules were followed. In addition, Mr Smith's neighbour discovers that cracks have developed in his walls since the construction work started and demands that they be repaired.

 

But there's no need to worry. Not only will we assume the costs of rebuilding the balcony, but also,

 

as part of the combined supplementary insurance:

  • the costs of fully repairing the façade (existing structure), which is not part of the original construction work;
  • the costs of repairing or replacing the movable property in the building that was damaged or destroyed as a result of the façade collapse;
  • the costs of repairing or replacing the construction equipment and tools that were damaged or destroyed by the façade collapse.

 

as part of the principal's liability insurance:

  • the costs of a review of the neighbour's claim by an expert;
  • the losses incurred by third parties, provided they are in fact incurred as a result of the construction;
  • Mr Smith's defence in the event of a dispute against unjustified claims by the neighbour, if the damage was not caused by the construction work.

Important questions

The policy is concluded for the duration of the construction work. It ends when the insured construction work is accepted or considered to be accepted. But no later than the date agreed in the policy.

Principal’s liability insurance insures the principal and the owner of the building plot. Construction insurance against damage and loss insures the principal, the geologists, architects, engineers and contractors, including subcontractors.

New construction or redevelopment as well as renovation of a turnkey building are insured. All construction work including fees that the principal commissions or performs.

The premium depends on the type of construction, location of the building, selected cover and insured amount.

Additional options

Protects your business against legal and financial risks.

Protects your vehicles in the event of glass breakage, theft and collision.

Protects your business and your employees in the event of costly accidents.