Insurance of construction and installation risks
The essence of construction risk insurance is that at all stages of construction, from the development of a feasibility study to the commissioning of the facility, there is an opportunity to compensate the insured for sudden and unforeseen losses, as well as to protect the capital invested in construction.
At the same time, the enterprise must plan its future expenses; distribute funds in accordance with the financial plan; prevent unexpectedly high losses that may arise as a result of damage, which contributes to the protection of private enterprises from bankruptcy and ensures their competitiveness.
Who can insure?
Legal and natural persons, entities of entrepreneurial activity, who have a license to carry out construction and installation works and are investors; customers; general contractors; contractors; subcontractors.
Property insurance?
- facilities of construction and installation works;
- building materials and structures;
- construction machinery and equipment;
- construction site equipment;
- auxiliary facilities;
- property that is already on the construction site or nearby, belongs to, is in the custody or under the control of the customer or contractor;
- with the consent of the parties responsible for damage caused to life, health or property of third parties during construction and installation works.
What risks are covered?
When insuring construction and installation risks – damage, death, and loss of facilities of construction and installation work or insured property due to:
- fire hazards (fire, lightning strike, explosion, fall of manned aircraft objects, their debris or cargo);
- natural phenomena or natural hazards;
- unlawful actions of third parties;
- emergency events;
- water damage;
- other unforeseen and accidental events
What is the validity term of the Contract?
Period of construction and installation works.
What is the territory of the Contract?
The address where the construction and installation works are carried out.
Why is it necessary to purchase an insurance policy for construction and installation risks from IC AXIOMA?
IC AXIOMA has many years of experience in insurance of construction and installation risks, as well as access to various insurance companies and programs. Therefore, by purchasing an insurance contract with IC AXIOMA, you receive professional advice on choosing the best insurance coverage, where the broker will understand your risks and circumstances and select the best insurance coverage, taking into account your wishes. For your convenience, you can always find your insurance contract in the Personal Cabinet on the IC AXIOMA website, which is accessible 24/7. The broker works in the interests of clients, therefore, in the event of an insurance event, IC AXIOMA supports the Client and does everything to speed up the process of settling the insurance event and obtaining insurance compensation.