Prepare for Disasters with Construction All Risk Insurance
Construction All Risk Insurance enables developers, clients, and contractors to prepare for construction disasters. While there is no way to prevent disasters, there is a way to prevent financial losses due to insured events.
When we're busy designing and financing a construction project, we have to consider severe weather, accidents, and other risks to the project. As much as we try to prepare, these risks are completely out of our control. Once that construction is started, you might get nervous every time you see dark clouds overhead or hear the sirens of firetrucks.
What if a hailstorm comes? Or what if a fire starts? That tree at the construction site does look a quite old...Was it leaning toward the project or away from it? This is why insurance companies offer Construction Risk Insurance.
Policies for Construction risk Insurance are offered by several companies including Balta, BAN, BTA, ERGO, Gjensidige, & If. Our brokers can help you analyze all of these companies and policies to help you get a great policy, without all the confusion.
Our services, including comparison, analysis, and one-one-one communication and ongoing, 24/7 support will come at no additional cost. This is because we are paid by the servicing fee already included in every insurance policy.
What does Construction Risk Insurance Typically Cover?
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Construction works and materials
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Construction equipment and tools
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Removal of ruins and debris
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Existing property
Additional coverage can include:
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The cost over overtime, night shift work, work on holidays, and cargo transportation (if these are needed due to the insured event)
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Equipment and installed equipment inspection insurance
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Insurance of underground cables and pipelines
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Designer's Error Insurance
What does Construction Risk Insurance Typically Exclude?
Financial losses due to preventable situations such as:
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Construction Delays
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Quality of material or equipment
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Quality of work performed
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Design errors
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Accounting errors
Additional coverage can be purchased such as:
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Equipment and installed equipment inspection insurance
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Insurance of underground cables and pipelines
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Designer's Error Insurance
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Insurance for overtime, night shift work, work on holidays, and cargo transportation (if these are needed due to the insured event)
